You are managing a datacenter infrastructure project. You have spent $250,000 out of a total budget of $600,000. You have completed 30% of the work thus far, but according to the schedule you should have completed 40% of the work. Which of the following best describes the situation?
A. Your project is over budget and behind schedule B. Your project is over budget and ahead of schedule C. Your project is under budget and behind schedule D. Your project is under budget and ahead of schedule
Your project is over budget and behind schedule-monitoring & controlling - cost managementthis is an evm question. the amount spent is the actual cost (ac). the work completed of 30% is the same as earned value (ev). the work you were supposed to complete of 40% is the planned value (pv). to answer this question you simply need to calculate cost variance (cv) and schedule variance (sv). cv = ev - ac or $180,000 - $250,000 = ($70,000), which means your project is over budget. sv = ev - pv or $180,000 - $240,000 = ($60,000), which means your project is behind schedule.