The cumulative earned value of the project is
A) the sum of the planned costs of the project
B) the sum of the budgeted costs of the work actually performed.
C) the sum of the budgeted cost of the work scheduled.
D) the sum of the differences between what was planned and the actual costs.

Question

Quizplus · Accepted Answer

Cumulative earned value is the budgeted cost of the work actually performed. It represents the value of the work that has been completed so far, based on the budget that was set for it. Therefore, option B is the correct answer. Option A refers to planned costs, which do not reflect the actual progress of the project. Option C refers only to the budgeted cost of the work that was scheduled to be performed, without considering whether it was actually completed. Option D refers to variances between planned and actual costs, which are not necessarily related to the value of the work completed.

The Cumulative Earned Value of the Project Is