Which statement best defines cost variance?
A) planned value plus actual costs
B) earned value minus the actual cost
C) rate of performance minus earned value
D) planned value minus the rate of performance

Question

Quizplus · Accepted Answer

Cost variance (CV) is the earned value minus the actual cost. If cost variance is a negative number, it means that performing the work costs more than planned. If cost variance is a positive number, performing the work costs less than planned.

Which Statement Best Defines Cost Variance