You are the new Project Manager on an ongoing project, tasked with taking over for a Project Manager who left. Some of the numbers you find in your initial research are as follows:

Originally Estimated Project Cost --- $675,000

Project Timeline --- 24 weeks

This is week 12 and accumulated costs (AC) are $300,000. Only half (.50) of the work that was scheduled for completion by Week 12 has been completed.

Assume that each week requires the same cost and was expected to have an equal amount of work completed each week.

________ 33. As of this date, what is the Planned Value (PV = How much money had you planned to spend by Week 12)?

a . $300,000

b. $113,062

c. $337,500

d. $389,453

________ 34. What is the Earned Value today? [EV= PV times % of work completed]

a . $300,000

b. $113,062

c. $168,750

d. $483,103

_________ 35. What is the Cost Variance? [CV = EV minus AC]

a . + $300,000

b. - $113,062

c. - $131,250

d. - $452,250