PMP Memory Sheets

Question 1

Lag

Answer 1

Waiting time between activities (positive time).

Question 2

Planned value (PV)

Answer 2

What the project should be worth.

Question 3

Earned value (EV)

Answer 3

What the project is worth

Percent complete X BAC

Question 4

Actual cost (AC)

Answer 4

What the project has spent so far

Question 5

Budget at Completion (BAC)

Answer 5

What the project budget is

Question 6

Cost variance (CV)

Answer 6

The difference between earned value and the actual
costs

►EV-AC

Positive – under budget
Negative – over budget