Jean is managing a project in his organization. The planned value for this project is $4,500. At the end of eight weeks, he finds that his earned value is $3,500. What is the present schedule variance for the project? What does the variance signify?
A) $-1,000; behind schedule
B) $+1,000; ahead of schedule
C) $-1,000; on schedule
D) $+1,000; on schedule
E) $+1,000; behind schedule

Question

Quizplus · Accepted Answer

The schedule variance (SV) is calculated by subtracting the planned value (PV) from the earned value (EV). 
SV = EV - PV 
SV = $3,500 - $4,500 
SV = -$1,000, which means the project is behind schedule. Therefore, the best choice is A: $-1,000; behind schedule.

Jean Is Managing a Project in His Organization