Define Planned Value (PV). What is the relationship between PV and Budget at Completion (BAC)?

12. Define Planned Value (PV). What is the relationship between PV and Budget at Completion (BAC)?

13. When are Fixed Formula Earned Value (EV) measurement rules appropriate?

14. What is the difference between percent complete and percent complete with gates Earned value (EV) measurement rules? What advantage does the latter have over the former?

15. Under what conditions would the To-Complete Performance Index (TCPI) formula provide the least useful information?

16. Under what conditions would the high end Estimate at Completion (EAC) formula provide a value numerically less than the low-end EAC formula?

17. In performing an earned value analysis, what does a CV of negative100 and a CPI of 1.02 mean?

18. Describe the cost baseline. What is the difference between the cost baseline and the performance measurement baseline?

19. Describe the relationships among project cost, schedule, and scope.

20. How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system?

21. What is a cost account? How is it used?

22. Why is it important to resist changes to the performance measurement baseline? Under what conditions would changes to the baseline be appropriate? When would changes to the baseline not be allowed?

23. Cost Variance (CV) and Cost Performance Index (CPI) can both be used to determine whether a project is on budget, under budget, or over budget at a particular point in time. Why have two measures for the same thing?

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