Consider a project that involves painting five similar houses over ten weeks (one house every two weeks)for a total budgeted cost of $20,000.The budget is $4,000 per house.At of the end of week 5, you determine that $10,000 has actually been spent and three houses have been painted completely. What is the earned value of the project?
A) $10,000
B) $12,000
C) $4,000
D) $20,000

Question

Quizplus · Accepted Answer

To find the earned value, we need to find the value of the work that has been completed so far. 
Since three houses have been painted at the end of week 5, the value of the work completed is three times the budgeted cost per house, which is:
3 x $4,000 = $12,000

Therefore, the earned value of the project is $12,000.

Consider a Project That Involves Painting Five Similar Houses Over