Mod 7 Unit 3 Earned Value Management (EVM)

Front

Earned Value Management (EVM) is used to measure project performance and progress. It compares __________.

Back

actual cost against the budgeted/planned cost to assess project progress.

Front

Earned Value (EV) of a project

Back

The total dollar budget of the work that has been completed.

Front

Role of EVA results for project managers

Back

To communicate performance results to stakeholders and make decisions or recommendations.

Front

What is reported at the end of a specified time period in EVA

Back

The value of work completed, actual cost, and value of work scheduled.

Front

The baseline budgeted cost is used for

Back

Determining the earned value (EV) of a project.

Front

The actual cost (AC) is the total dollar value of costs incurred to date, including work and invoices already paid. It also includes ____________.

Back

any expenses that have been incurred but not yet invoiced or paid.

Front

Project managers use methods to simplify percentage completion determination.

Back

These methods are used when actual units don't reflect the needed effort.

Front

Indexes in EVA

Back

Used to assess the current status and predict how the project will end.

Front

PCIC Calculation Formula

Back