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
SV is EV minus PV, giving -$10,000, and CV is EV minus AC, giving -$5,000; this option assigns -$5,000 to SV and -$10,000 to CV, transposing the two results. It is tempting because both signs are negative, matching the genuinely over-budget, behind-schedule position.
- ✗
SV = -$10,000, CV = $5,000
Why it's wrong here
SV is EV minus PV ($40,000 - $50,000 = -$10,000), correct here, but CV is EV minus AC ($40,000 - $45,000 = -$5,000), not +$5,000. It is tempting because it correctly computes SV and then reverses the CV subtraction, which would be right if actual cost were below earned value.
- ✗
SV = $10,000, CV = $5,000
Why it's wrong here
SV is EV minus PV ($40,000 - $50,000 = -$10,000) and CV is EV minus AC ($40,000 - $45,000 = -$5,000); both values here are positive and reversed in sign. It is tempting because it swaps the operands, which is the correct calculation when AC exceeds PV and the variances happen to be positive.
- ✓
SV = -$10,000, CV = -$5,000
Why this is correct
Schedule variance is EV minus PV, giving $40,000 minus $50,000, or -$10,000. Cost variance is EV minus AC, giving $40,000 minus $45,000, or -$5,000. Both negative values indicate the project is behind schedule and over budget.
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