_____________is defined as the budget for the cost (work) account times the percent complete for that account.

_____________is defined as the budget for the cost (work) account times the percent complete for that account.
A . Percent complete
B . Forecast
C . Cost to complete
D . Earned value

View Answer

Answer: D

Explanation:

Earned Value (EV) is a key concept in project management, particularly in cost management and performance measurement. It is defined as the budgeted amount for the work actually completed by a specific point in time. This is calculated as the budget for the cost (work) account multiplied by the percentage of completion for that account.

For example, if a work package has a total budget of $100,000 and is 50% complete, the earned value for that work package would be $50,000. EV is essential in performance measurement because it allows project managers to assess how much of the planned work has been completed at a certain cost, providing a clear indicator of project progress and efficiency.