PMI Scheduling Professional (PMI-SP) — Question 3

You are the project manager of the OOI Project and you're forty percent complete with this project. The project has a BAC of $2,345,650 and you have spent
$950,000 to date. Based on your aggressive scheduling you should at the 45 percent milestone today, but due to some early delays you're running late. What is the schedule variance of your project?

Answer options

Correct answer: B

Explanation

To calculate the schedule variance (SV), you use the formula SV = EV - PV. The Earned Value (EV) at 40% completion is $938,260 (40% of $2,345,650), and the Planned Value (PV) at 45% completion is $1,053,368 (45% of $2,345,650). Therefore, SV = $938,260 - $1,053,368 = -$117,282, making B the correct answer. The other options do not reflect the correct calculation of schedule variance.