Question: A project was expected to cost $ 6 million for three months. At the end of one month A project you use earned value technique

A project was expected to cost $ 6 million for three months. At the end of one month A project you use earned value technique as a performance management technique and get the following information:

Earned value= $ 1.5 million

Planned value $2.5 million

Actual cost $ 2.2 million

In this context, what would be the schedule variance?

Choice 1: -0.3 Million

Choice 2: 1 Million

Choice 3: 1 Million

Choice 4: 0.7 Million

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