CAPM (Certified Associate in Project Management) Practice Exam

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Which value is used to monitor the budget of the work accomplished?

  1. Planned Value (PV)

  2. Actual Cost (AC)

  3. Earned Value (EV)

  4. Cost Variance (CV)

The correct answer is: Earned Value (EV)

Earned Value (EV) is the value used to monitor the budget of the work accomplished in a project. It represents the value of the work that has been completed based on the budget and schedule. By comparing the Earned Value to the Actual Cost (AC) and Planned Value (PV), project managers can determine how well the project is performing in terms of cost and schedule. Cost Variance (CV) is a measurement of cost performance which indicates whether the project is under or over budget. PV represents the authorized budget assigned to the work to be accomplished.

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