AALL10 · Chapter 10Project Planning & Implementation🏛️ Past Licensure QuestionID: f55f3890
In Earned Value Management (EVM), the total authorized baseline cost budgeted for all work scheduled to be accomplished across the project is designated as:
In Earned Value Management (EVM), the total authorized baseline cost budgeted for all work scheduled to be accomplished across the project is designated as:
Multiple Choice Options
- A
Actual Cost (AC)
- B✓ Correct Option
Planned Value (PV) / Budget at Completion (BAC)
- C
Forecast Value (EAC)
- D
Sunk Cost
Detailed Technical Solution & Explanation
In EVM, Planned Value () is the authorized budget assigned to scheduled work. When considering the entire project when all planned work is accomplished, the total cumulative planned value equals the Budget at Completion ().
Option Analysis:
•
Option A (Actual Cost (AC)): Actual expenses incurred, not budgeted value.
•
Option B (Planned Value (PV) / Budget at Comple...): Correct. Standard EVM metric for total budgeted cost of planned work.
•
Option C (Forecast Value (EAC)): Estimate at Completion ().
•
Option D (Sunk Cost): Past irrecoverable expenditure.
Reference: Demo · Set 4NEC Licensure Syllabus