Civil Engineering Tools
BeamTrussMohr's CircleUnit ConversionsCentroidDeflectionBucklingConcreteRebarFE Prep

Cost and Schedule Status of a Project

Mediumproject controlsearned value
At a progress review, a project reports a budgeted cost of work performed of $180,000, an actual cost of work performed of $210,000, and a budgeted cost of work scheduled of $200,000. The project status is best described as:
  1. AUnder budget and ahead of schedule
  2. BUnder budget and behind schedule
  3. COver budget and ahead of schedule
  4. DOver budget and behind schedule
Show solution

Answer: D. Over budget and behind schedule

Cost variance is CV = BCWP − ACWP = 180,000 − 210,000 = −$30,000, and a negative cost variance means more was spent than the work performed was worth, so the project is over budget. Schedule variance is SV = BCWP − BCWS = 180,000 − 200,000 = −$20,000, and a negative schedule variance means less work has been completed than planned, so the project is behind schedule. Equivalently CPI = 0.86 and SPI = 0.90, both below 1.0.
Practice this deckUntimed, one problem at a time, with your progress saved.

Related problems

Keep studying