In earned value management,schedule variance is defined as:
A)The difference between the earned value and the actual cost.
B)The difference between the earned value and the planned value.
C)The difference between the actual cost and the planned value.
D)The difference between the cost and schedule performance indices multiplied by the budgeted cost at completion.

Question

Quizplus · Accepted Answer

Schedule variance (SV) is calculated by subtracting the planned value (PV) from the earned value (EV). SV helps in determining whether the project is ahead, behind or on schedule. Therefore, option B is the correct answer as it defines the difference between earned value and planned value. Option A and C are incorrect as they describe the difference of earned value with actual cost and planned value with actual cost, respectively. Option D is also incorrect as it does not define schedule variance.

In Earned Value Management,schedule Variance Is Defined As