At the End of the Second Week of a Project

question 301

Multiple Choice

At the end of the second week of a project, the earned value (EV) of work is $8000 USd and the planned value (PV) of work is $7000 USd. What is true about the project?

• A) The project is ahead of schedule.
• B) The project is over budget.
• C) The project is behind schedule.
• D) The project is under budget.

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Definitions:

Leisure

The time individuals spend away from work or productive activities, often used for relaxation or recreational activities.

Wage Rate

The fixed amount of money or compensation paid to an employee by an employer in exchange for work performed.

Labor Income

Earnings derived from work or employment, including wages, salaries, and other compensation.

Lump Sum Payment

A lump sum payment is a large payment made in one single payment instead of broken down into installments.