Quick Answer
The answer is the variance analysis report, which is the correct tool for identifying specific work package cost overruns in a project. This report works by comparing the planned budgeted cost of work scheduled against the actual costs incurred at the work package level, calculating key metrics like cost variance (CV = EV - AC) and schedule variance (SV = EV - PV) to isolate exactly where the overrun is occurring. On the CompTIA Project+ PK0-005 exam, this question tests your understanding of the Control Costs process and the distinction between reports that aggregate data versus those that drill down into individual work packages. A common trap is confusing the variance analysis report with a simple status report or a cumulative cost report, which only show totals without isolating the source. Remember the memory tip: "Variance is the pair—CV for cost, SV for schedule—and the work package is where you find the culprit."
This PK0-005 practice question tests your understanding of tools and documentation. Read the scenario carefully and evaluate each option against the stated constraints before committing to an answer. After answering, compare your reasoning against the explanation and wrong-answer breakdown below. Once you have made your selection, read the full explanation to reinforce the concept and understand why each distractor is designed to mislead on exam day.
A project manager is reviewing the project budget and notices that the actual cost is significantly higher than planned. The project manager wants to identify which specific work packages are causing the overrun. Which report or tool should be used?
Status report
Why wrong: Status report gives high-level summary, not detailed variance.
Variance analysis report
Variance analysis report compares planned vs actual costs at work package level.
Pareto chart
Why wrong: Pareto chart prioritizes issues but does not provide cost variance per work package.
Earned value report
Why wrong: Earned value report provides overall cost and schedule performance, not detailed per work package.
Answer choices
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
Variance analysis report
A variance analysis report compares planned (budgeted) costs against actual costs at the work package level, enabling the project manager to pinpoint specific packages causing the cost overrun. This report directly supports the control costs process by calculating cost variance (CV = EV - AC) and schedule variance (SV = EV - PV) for each work package, isolating the source of the overrun.
Key principle: Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Answer analysis
For each option: why learners choose it and why it is or isn't the right answer here.
Status report
Why it's wrong here
Status report gives high-level summary, not detailed variance.
Variance analysis report
Why this is correct
Variance analysis report compares planned vs actual costs at work package level.
Related concept
Read the scenario before looking for a memorised answer.
Pareto chart
Why it's wrong here
Pareto chart prioritizes issues but does not provide cost variance per work package.
Earned value report
Why it's wrong here
Earned value report provides overall cost and schedule performance, not detailed per work package.
Common exam traps
CompTIA often tests the distinction between a variance analysis report (which isolates work package-level cost variances) and an earned value report (which shows aggregate EVM metrics), leading candidates to mistakenly choose the earned value report when the question specifically asks for identifying which work packages are causing the overrun.
Detailed technical explanation
Variance analysis at the work package level uses the earned value management (EVM) formula CV = EV - AC, where a negative CV indicates a cost overrun. The project manager can generate a variance analysis report from the project management information system (PMIS) by filtering on work packages with CV < 0, often expressed as a percentage (CV%) to normalize against budget. In practice, this report may also include to-complete performance index (TCPI) to forecast whether remaining work can be completed within the remaining budget.
Key takeaway
Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Real-world example
A practitioner preparing for the PK0-005 exam encounters this exact type of scenario on the job. The correct answer here is not the most general option — it is the best answer for the specific constraint described. Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option. Real exam questions reward reading the full scenario before eliminating options, because the constraint defines which answer fits.
What to study next
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FAQ
Tools and Documentation — This question tests Tools and Documentation — Read the scenario before looking for a memorised answer..
The correct answer is: Variance analysis report — A variance analysis report compares planned (budgeted) costs against actual costs at the work package level, enabling the project manager to pinpoint specific packages causing the cost overrun. This report directly supports the control costs process by calculating cost variance (CV = EV - AC) and schedule variance (SV = EV - PV) for each work package, isolating the source of the overrun.
Identify which exam domain this question belongs to, review the core concept, then practise similar questions from the same domain.
Read the scenario before looking for a memorised answer.
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Last reviewed: Jun 30, 2026
This PK0-005 practice question is part of Courseiva's free CompTIA certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the PK0-005 exam.
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