Jean Is Managing a Project in His Organization

question 35

Multiple Choice

Jean is managing a project in his organization. The planned value for this project is $4,500. At the end of eight weeks, he finds that his earned value is $3,500. What is the present schedule variance for the project? What does the variance signify?

• A) $-1,000; behind schedule
• B) $+1,000; ahead of schedule
• C) $-1,000; on schedule
• D) $+1,000; on schedule
• E) $+1,000; behind schedule

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Definitions:

Implied Warranty

An unwritten guarantee that the product or service sold is fit for the purpose intended and meets the buyer's expectations.

Fitness For A Particular Purpose

A guarantee that a product will meet the specific requirements or needs of the buyer, as acknowledged by the seller.

Seller Or Lessor

The party in a transaction who is selling or leasing a good, service, or property to another party, known as the buyer or lessee.

Breach

The act of breaking or failing to observe a law, agreement, or code of conduct.