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Actual costs, original budget, revised costs, earned values

Given the following information for the latest period (5), answer the below questions.
# 1. Actual costs to date are $550.
# 2. The original budget through period 5 was $350.
# 3. The revised costs for the project at completion (EAC) are $900.
# 4, The sum of the earned values to date are $400.
# 5. The total original budget (BAC) for the project was $700.
# 6. The Reserve/ Contingency fund has not been used.

1. Identify the correct statement to enter in your status report at the end of period (5).
a. The schedule is 50 days late.
b. The schedule variance is - $150.
c. The schedule variance is -$50.
d. The schedule variance is + $200
e. None of the above.

2. Identify the correct statement to enter in your status report at the end of period (5).
a. The cost variance is + $150.
b. The cost variance is - $150.
c. The cost variance is + $200.
d. The cost variance is - $200.
e. None of the above.

3. Identify the correct statement to enter in your status report at the end of period (5).
a. The project will finish on schedule and under budget by $200.
b. The project will finish on schedule and over budget by $200.
c. The project will finish on schedule and on budget.
d. The project will finish $ 200 over budget.
e. None of the above.

Solution Preview

1. Identify the correct statement to enter in your status report at the end of period (5).
e. None of the above.

Schedule Variance = Budgeted cost of work performed (BCWP) - ...

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