Difficulty: Medium

Average Score: 54%

Given the following information, what is the schedule variance (SV) for this project?

Early start date (ES): 16 weeks
Actual time: 12 weeks
Schedule performance index (SPI): 1.3

Rationale

The schedule variance (SV) for this project is 5.

Schedule variance (SV) is calculated using the formula SV = EV - PV, where EV (earned value) is determined by multiplying the budget at completion (BAC) by the schedule performance index (SPI). Given that the SPI is 1.3 and the actual time is 12 weeks, we can derive that the earned value (EV) is 15.6 weeks, while the planned value (PV) at the early start date of 16 weeks is 11. Therefore, the SV equals 15.6 - 11 = 5.

A (4) YOUR ANSWER

Choosing 4 as the schedule variance suggests a misunderstanding of the relationship between earned value, planned value, and schedule performance index. With the provided SPI of 1.3, the calculation of earned value would not yield a variance of 4, as the actual calculations indicate a higher earned value based on project performance.

B (2) YOUR ANSWER

Selecting 2 as the schedule variance miscalculates the difference between earned value and planned value. The earned value calculated from the SPI and actual time indicates that the project has surpassed its planned progress, which cannot align with a variance of just 2 weeks.

C (5) CORRECT

This is the correct choice, as the calculation of SV confirms that the schedule variance is indeed 5 weeks. This value indicates that the project is ahead of schedule, reflecting the positive performance indicated by the SPI.

D (3) YOUR ANSWER

Choosing 3 as the schedule variance overlooks the correct calculation of earned value based on the SPI. The earned value significantly exceeds the planned value, which results in a variance that is greater than 3, reinforcing that the project is making more progress than planned.

Conclusion

Schedule variance is a critical metric in project management that indicates the difference between what was planned and what has been accomplished. The calculation for this project reveals that the schedule variance is 5 weeks, demonstrating effective project performance as indicated by the schedule performance index. Understanding these metrics is essential for proper project tracking and management.

Early start date (ES): 16 weeks Actual time: 12 weeks Schedule performance index (SPI): 1.3

The schedule variance (SV) for this project is 5.

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Early start date (ES): 16 weeks
Actual time: 12 weeks
Schedule performance index (SPI): 1.3