If you hired a consulting firm to develop a system which is estimated to take four months to complete with the tasks evenly divided over the four months and you agree to pay for the project with equal monthly installments, those payments would be called:
A) Planned Value (PV)
B) Budget At Completion (BAC)
C) Actual Cost (AC)
D) Earned Value (EV)
E) None of these

Question

Quizplus · Accepted Answer

Planned Value (PV) represents the estimated value of the work planned to be done. In this scenario, since the payments are divided equally over the four months according to the work scheduled to be completed, they align with the concept of Planned Value.

If You Hired a Consulting Firm to Develop a System