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1. What are the three project cost reference perspectives that are used by earned value analysis?
Planned value, actual cost, and earned value.
Project budget, project schedule, and project resource list.
Project costs, project benefits, and corporate discount rate.
2. What is earned value on a project task?
The amount of revenue or savings that the project will earn in the first year, divided by the budget for that task.
The percentage of the task that is complete, expressed as that percentage of the budget for that task.
The amount of money spent on a task divided by the budget for that task.
3. In earned value analysis, what is the relationship between Current PV and Cumulative PV?
Current PV and Cumulative PV are synonyms. The Current PV is the cumulative sum of all PVs up to the present point in time on the project.
Current PV is the planned, or budgeted, project costs for the current time period – normally monthly. The Cumulative PV is the sum of all Current PVs from the beginning of the project up to through the current time period.
Current PV is the targeted PV that the stakeholders desire the project to spend and Cumulative PV is the actual costs that the project has incurred.
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