PRIMAVERA PROJECT PLANNER INTERVIEW

Cost Variance (CV): This is the completed work cost when compared to the planned cost. Cost Variance is computed by calculating the difference between the earned value and the actual cost, i.e. EV AC. As you can deduce from the formula, Cost Variance will be negative for projects that are over-budget. Monitoring project cost variance is critical to ensuring the project is delivered on budget. Using realistic project estimation is good start to ensuring there isn't significant cost variance. Schedule Variance (SV): This is the completed work when compared to the planned schedule. Schedule Variance is computed by calculating the difference between the earned value and the planned value, i.e. EV PV. A positive Schedule Variance tells you that the project is ahead of schedule, while a negative Schedule Variance tells you the project is behind schedule. Monitoring Schedule Variance is critical to delivering the project on-time.