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Earned Value Management: Definition, Formula & Examples

Instructions:

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

question 1 of 3

What is earned value management?

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1. What does SPI mean?

2. What does it mean to have a CPI of 1.5?

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About This Quiz & Worksheet

Use the worksheet and quiz to determine what you know about earned value management. Quiz questions will cover areas such as what earned value management is and what is meant by SPI.

Quiz & Worksheet Goals

The quiz and worksheet will help you to:

  • Assess a given value of CPI
  • Explain a WBS
  • Determine whether or not a given project is ahead of schedule

Skills Practiced

Practice the following:

  • Interpreting information - verify that you can read information regarding SPI and interpret it correctly
  • Distinguishing differences - compare and contrast topics from the lesson, such as WBS and CPI
  • Knowledge application - use your knowledge to answer questions about earned value management

Additional Learning

Find out more about this subject via the lesson entitled Earned Value Management: Definition, Formula & Examples. The lesson will help you to learn the following study goals:

  • Identify and understand the various components of earned value management
  • Recognize how to obtain actual cost, planned value and the earned value
  • Interpret the formula for calculating how an organization spends their time and money on a given project
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