CAPM (Certified Associate in Project Management) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the CAPM Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

How is Earned Value (EV) defined?

The initial budget of the project
The budget for the work that has actually been accomplished in a given period
The total actual cost of the project
The profit gained from the project

The correct answer is: The budget for the work that has actually been accomplished in a given period

Earned Value (EV) is defined as the budget for the work that has actually been accomplished in a given period. This metric helps in measuring the value of the work completed at a specific point in time and provides an objective measure of the project's progress. Option A is incorrect as it refers to the initial budget of the project, not the value of the work completed. Option C is incorrect as it represents the total actual cost of the project, not the budget for completed work. Option D is incorrect as it refers to the profit gained from the project, which is different from the concept of Earned Value.