PMI Scheduling Professional (PMI-SP) — Question 1

George is the project manager of the NHQ Project and has a budget of $778,000. The project is scheduled to last for one year with an equal amount of work completed each quarter. The second quarter of the project has ended and George has spent $325,000 but has only finished forty percent of the project.
Management needs a variance report for the project schedule. What value should George report in this instance?

Answer options

• A. .96
• B. -$77,800
• C. $-34,500
• D. -$13,800

Correct answer: B

Explanation

The correct answer is B, -$77,800, which reflects the negative variance indicating that the project is behind schedule. The other options do not accurately represent the difference between the planned budget for the work completed and the actual spending, thus they cannot be correct.