Earned Value Management (EVM): Definition & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Earned value is _____.

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1. Actual cost is _____.

2. Sean's project has a SPI of 1.0 What does this mean?

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About This Quiz & Worksheet

This quiz and worksheet combination will help you assess your knowledge of earned value management (EVM). To pass the quiz you have to be aware of calculations involved in EVM and related terminology.

Quiz & Worksheet Goals

Information reviewed includes:

  • The meaning of earned value
  • SPI
  • Calculation of SPI

Skills Practiced

  • Defining key concepts - ensure that you can accurately define the key term actual cost
  • Problem solving - use acquired knowledge to solve CPI calculation practice problems
  • Reading comprehension - ensure that you draw the most important information from the lesson on earned value management

Additional Learning

Earned Value Management (EVM): Definition & Example is a lesson that will teach you about this method, which is used to assess project progress and performance. Objectives covered include:

  • Review key definitions used in EVM
  • Understand how to interpret SPI and CPI
  • Know what cost performance metric is
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