Question

You are a project manager for a small construction project. Your project was budgeted for U.S. $82,000 over a six-week period. As of today, you have spent U.S. $32,000. The earned value is U.S. $34,000. According to your schedule, you should have spent U.S. $40,000 by this time. Based on these circumstances, your project could be BEST described as:

A.) Ahead of schedule

B.) Behind schedule

C.) On schedule

D.) Not enough information is provided

Answer 1

From the given set of data,

Percentage of the project which should have been completed

= Amount should have been spent / Project budget x 100

= 40,000/82,000 x 100

= 48.78 %

Percentage of the project actually completed

= Earned value of the project / Project budget x 100

= 34000/ 82000 x 100

= 41.46%

Therefore, on a given time when 48.78% of the project is expected to be completed, only 41.46% of the project is completed.

Therefore , the project is behind schedule

ANSWER : B ) BEHIND SCHEDULE