PK0-005 Tools and Documentation Practice Question
A project has a planned value (PV) of $50,000, earned value (EV) of $40,000, and actual cost (AC) of $45,000. What is the schedule variance (SV) and cost variance (CV)?
⚠ Common exam trap
Many exam-takers confuse the formulas for SV and CV, swapping the order of subtraction (e.g., using PV - EV for SV or AC - EV for CV), leading to incorrect positive values instead of the correct negative ones.
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
SV = -$10,000, CV = -$5,000
Schedule variance (SV) is calculated as EV - PV = $40,000 - $50,000 = -$10,000, indicating the project is behind schedule. Cost variance (CV) is EV - AC = $40,000 - $45,000 = -$5,000, indicating the project is over budget. Option D correctly states both negative variances.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
SV = -$5,000, CV = -$10,000
Why it's wrong here
Values are swapped; SV is EV-PV, CV is EV-AC.
- ✗
SV = -$10,000, CV = $5,000
Why it's wrong here
CV would be positive only if EV > AC, but here EV < AC.
- ✗
SV = $10,000, CV = $5,000
Why it's wrong here
Positive variances would indicate ahead of schedule and under budget, which is not the case.
- ✓
SV = -$10,000, CV = -$5,000
Why this is correct
Correct: SV negative indicates behind schedule; CV negative indicates over budget.
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