71. Read and understand the statements below and select from the list below which statement is the least accurate in respect of Earned Value. i The Earned Value method is most easily used where a project's starting point can be measured with reasonable accuracy, such as building a highway, dredging a shipping channel or building a multi-Ievel building ii Comparing Earned Value with budgeted costs and with actual costs produces two variances (both measured in units of currency) the Project Spending Variance and a variance that deals with timing that is called the Project Schedule Variance iii Creation of Indexes from the two variances in B (above) allows comparison of different projects and managers of different projects even though various projects may be very different in size, cost and timing iv The Earned Value method breaks down the budget variance into two parts. The key factor in this breakdown is the EV or the expected cost of project work completed to date