Determining the earned value involves collecting data on the percentage complete for each work package and then converting this percentage to a Rand amount by multiplying the_____ of the work package by the percentage complete.
A)total budgeted cost (TBC)
B)cumulative budgeted cost (CBC)
C)cumulative earned value (CEV)
D)cumulative actual cost (CAC)

Question

Quizplus · Accepted Answer

The total budgeted cost (TBC) represents the total amount budgeted for the entire project, so multiplying the percentage complete of each work package by its corresponding TBC will give the earned value for that work package. Cumulative budgeted cost (CBC) represents the total amount budgeted up to that point in time and is not relevant for calculating earned value. Cumulative earned value (CEV) is the total of all earned values up to a point in time and is not used in the initial determination of earned value. Cumulative actual cost (CAC) represents the total actual cost up to a point in time and is also not relevant for calculating earned value.

Determining the Earned Value Involves Collecting Data on the Percentage