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1) The task Plan Schedule Management is a 4-day task. Expenditures/day are set at $3,000 per day. Day 1 is just completed. Assume the percent complete is 25% and the actual cost is $6,000. What is the cost variance, CV?

a. $-3000

b. $0

c. $3000

d. $-2000

e. $2000

2) The task Plan Schedule Management is a 4-day task. Expenditures/day are set at $3,000 per day. Day 1 is just completed. Assume the percent complete is 25% and the actual cost is $6,000. Is the task over, under or on budget? Is the task ahead, behind or on schedule?

a. over budget and behind schedule

b. on budget and ahead of schedule

c. on budget and behind schedule

d. under budget and on schedule

e. over budget and on schedule

3) A work package is 70% done and $10,000 was budgeted for it. If this work package has an ACWP of $7,000 then ________.

a. cost variance is $3000

b. cost variance is -$3000

c. the work package is on budget

d. both a. and c. are correct

e. both b. and c. are correct