MENU
You are the project manager of the GHY Project. This project is scheduled to last for one year and
has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are up
posed to be at your second milestone which accounts for half of the project completion. There have
been some errors in the project which has caused you to spend $2,073,654. What is this project's
schedule variance?
The schedule variance can be found by subtracting the planned value from the earned
value. In this instance, it is $2,025,000 minus
$2,250,000.
Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that
the schedule is ahead or behind what
was planned for this period in time. The schedule variance is calculated based on the following
formula:
SV = Earned Value (EV) - Planned Value (PV)
If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater
than 0 shows that the project is ahead of
the planned schedule. A value of 0 indicates that the project is right on target.
Answer option B is incorrect. This is the cost variance for the project.
Answer option A is incorrect. 10 percent is not a valid answer.
Answer option D is incorrect. This is not a valid variance for this question; variances are typically
negative numbers.