PK0-005 Tools and Documentation Practice Question
A project manager is using earned value management. The project has a schedule variance (SV) of -$5,000. What does this indicate?
⚠ Common exam trap
Project+ often tests the confusion between schedule variance (SV) and cost variance (CV), where candidates mistakenly associate a negative SV with being over budget instead of behind schedule.
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 project is behind schedule.
A negative schedule variance (SV = EV - PV) indicates that the earned value (EV) is less than the planned value (PV), meaning the project is behind schedule. In this case, SV = -$5,000 confirms the project has accomplished less work than planned at the measurement date.
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 project is ahead of schedule.
Why it's wrong here
A negative schedule variance means earned value falls short of planned value, so the project is behind schedule, not ahead. The sign is the axis: positive SV indicates ahead of schedule, negative indicates behind. Cost performance is measured separately by cost variance.
- ✓
The project is behind schedule.
Why this is correct
Schedule variance is calculated as earned value minus planned value; a negative result means less work was completed than planned at that point. An SV of -$5,000 therefore indicates the project is behind schedule, not over budget.
- ✗
The project is under budget.
Why it's wrong here
Schedule variance compares earned value against planned value, measuring time performance in cost terms; it says nothing about spending. Confusing SV with cost variance is the trap. A negative CV, not SV, would indicate the project is over budget.
- ✗
The project is over budget.
Why it's wrong here
Budget status is reported by cost variance, which compares earned value with actual cost. Schedule variance compares earned value with planned value, so it reflects schedule performance only. A negative CV, not SV, would indicate the project is over budget.
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