A project has a Budget at Completion (BAC) of $200,000. The project is currently 40% complete according to the project schedule, but the actual work performed indicates an earned value (EV) of $70,000. What is the Schedule Variance (SV)?
To determine the Schedule Variance, use the formula SV = EV - PV. First, calculate the Planned Value (PV): PV = Planned % Complete x BAC = 40% x $200,000 = $80,000. Then, calculate the Schedule Variance (SV): SV = $70,000 - $80,000 = -$10,000. A negative SV indicates the project is behind schedule.
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