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In earned value analysis the "schedule variance" is the earned value minus the planned value. Consider...

In earned value analysis the "schedule variance" is the earned value minus the planned value. Consider the following situation. A project has a planned schedule of 12 months with an estimated project cost of $800,000 . At six months into the project, the project manager quits and you are asked to take over the project. You discover that the accumulated costs are already $200,000 but only 25% of the work is complete. What is the schedule variance for this project?

12 months

$600,000

-$200,000

6 months

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Answer #1

Earned value = 25% of work is completed = 25% of 8,00,000 = $2,00,000

Planned value = (completed time/total time planned) * total budget =(6/12) * 8,00,000 = $4,00,000

Schedule variance = Earned value - Planned value = 2,00,000 - 4,00,000 = -$2,00,000

Hence the correct answer is 3rd option i.e., -$200,000

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