What is the difference between planned value PV) and earned value EV)?
A) Planned value is the budget set out for the project and earned value is the expected return for the project
B) Planned value is the expected return for the project and earned value is the budget set out for the project
C) Planned value is the budget set out for the project and earned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package
D) Planned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package and earned value is the budget set out for the project
E) There is no difference - planned value and earned value are interchangeable terms

Question

What is the difference between planned value PV) and earned value EV)? 
A) Planned value is the budget set out for the project and earned value is the expected return for the project
B) Planned value is the expected return for the project and earned value is the budget set out for the project
C) Planned value is the budget set out for the project and earned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package
D) Planned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package and earned value is the budget set out for the project
E) There is no difference - planned value and earned value are interchangeable terms

Quizplus · Accepted Answer

Planned Value (PV) refers to the total cost of the work planned/scheduled as of a specific date, while Earned Value (EV) represents the value of work actually performed up to that date, based on the project's budget.

What Is the Difference Between Planned Value PV) and Earned