Microsoft Project 2021 From Beginners to Advanced - Example of Earned Value Analysis

The video tutorial covers earned value analysis, focusing on setting and updating baselines, understanding percentage complete, and analyzing earned value reports. It explains the importance of comparing progress with a baseline and how to adjust baselines when project changes occur. The tutorial also discusses the difference between percentage complete and physical percentage complete, and how to interpret earned value reports to assess project performance.

What is the primary purpose of saving a baseline in earned value analysis?

• To track the number of tasks completed

• To compare project progress against a set standard

• To ensure all resources are utilized

• To calculate the total project cost

When should you consider saving a new baseline?

• When a project is completed

• When a major change occurs in the project

• When a task is delayed by a day

• When a new team member joins

What is the difference between percentage complete and physical percentage complete?

• Percentage complete is for resources, while physical percentage complete is for tasks

• Percentage complete is automatic, while physical percentage complete requires manual input

• Percentage complete is based on cost, while physical percentage complete is based on time

• Percentage complete is calculated manually, while physical percentage complete is automatic

Which method should you use if you want the project to calculate earned value automatically?

• Physical percentage complete

• Resource-based calculation

• Manual calculation

• Percentage complete

What does a horizontal line in the earned value report charts indicate?

• Budget constraints

• Future values

• Current project status

• Past performance

In an earned value report, what does it mean if the grey and blue lines are above the orange line?

• The project is ahead of schedule

• The project is on track

• The project is not performing well

• The project is under budget

What does a negative cost variance (COV) indicate in an earned value report?

• The project is on track

• The project is ahead of schedule

• The project is over budget

• The project is under budget