CAPM (Certified Associate in Project Management) Practice Exam

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Prepare for the CAPM (Certified Associate in Project Management) exam with our informative quiz. Test your knowledge through multiple-choice questions and detailed explanations to boost your confidence and readiness for the certification.

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.

Which value is used to monitor the budget of the work accomplished?

Planned Value (PV)
Actual Cost (AC)
Earned Value (EV)
Cost Variance (CV)

The correct answer is: Earned Value (EV)

Earned Value (EV) is the value used to monitor the budget of the work accomplished in a project. It represents the value of the work that has been completed based on the budget and schedule. By comparing the Earned Value to the Actual Cost (AC) and Planned Value (PV), project managers can determine how well the project is performing in terms of cost and schedule. Cost Variance (CV) is a measurement of cost performance which indicates whether the project is under or over budget. PV represents the authorized budget assigned to the work to be accomplished.