Cost Variance (CV) is __________
A) how much we actually spent for work completed
B) how much we budgeted to spend at the beginning of the project
C) how much of the budget we have left to spend on the project
D) how much of the budget we really should have spent on the work completed so far
E) the difference between the estimated cost and how much we have actually spent

Question

Quizplus · Accepted Answer

Cost Variance (CV) is defined as the difference between the estimated cost of work performed and the actual cost incurred for that work. It measures the cost performance of a project by comparing what was planned to be spent versus what was actually spent.

Cost Variance (CV) Is __________