PK0-005 Tools and Documentation Practice Question
A project manager is reviewing earned value data: PV = $150,000, EV = $120,000, AC = $130,000. Which THREE statements are correct?
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
✓
The schedule performance index (SPI) is 0.8.
Option A is correct: SPI = EV / PV = $120,000 / $150,000 = 0.8, which is the exact schedule performance index for this data. Option C is correct: an SPI of 0.8 (less than 1.0) means less work was accomplished than planned, so the project is behind schedule. Option E is correct: CV = EV − AC = $120,000 − $130,000 = −$10,000, indicating a negative cost variance. Option B is wrong because CPI = EV / AC = $120,000 / $130,000 ≈ 0.92, not 1.08. Option D is wrong because the CPI below 1.0 and the negative CV show the project is over budget, not under budget.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
The schedule performance index (SPI) is 0.8.
Why this is correct
SPI is calculated as EV divided by PV, so $120,000 ÷ $150,000 = 0.8. This is the earned value formula applied directly to the stem's figures, confirming the schedule efficiency ratio stated in the option.
- ✗
The cost performance index (CPI) is 1.08.
Why it's wrong here
CPI is EV divided by AC, giving 120,000 / 130,000 = 0.92, not 1.08. The figure 1.08 is tempting because it resembles a favourable ratio, but that value is AC/EV inverted, or a misreading of the earned value inputs; a CPI below 1.0 signals cost overrun.
- ✓
The project is behind schedule.
Why this is correct
With EV ($120,000) below PV ($150,000), less work has been completed than planned at this point, so the schedule variance is negative (−$30,000) and the schedule performance index is 0.8. This satisfies the stem's behind-schedule condition, independent of cost performance.
- ✗
The project is under budget.
Why it's wrong here
With EV of $120,000 below AC of $130,000, the project has spent more than the work earned, so it is over budget. It is tempting because AC exceeding EV looks like healthy spending, but the variance EV minus AC is negative $10,000, confirming a cost overrun.
- ✓
The cost variance (CV) is -$10,000.
Why this is correct
Cost variance is EV minus AC, giving $120,000 − $130,000 = −$10,000, so the project is $10,000 over budget. This satisfies the stem's requirement to identify correct earned value statements, since a negative CV directly reflects spending above the value earned to date.
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