Question

You are using earned value analysis to track your project's progress. In your project, earned value is higher than planned value and actual value. That means the project is _____ schedule and _____ budget.

Answer 1

Earned value management (E.V.M) is the technique carried out to check the project status and evaluate the project´s progress report.  

Explanation:

• Earned value management (E.V.M) is the technique carried out to check project status and evaluate the project´s progress report.  
• The value that is approved for the project to be completed in a given period of time is known as Planned value.
• The value compared with the planned value to check the schedule variance of the project is called Earned value.
• The actual value is the cost that is spent on the project while working on it to date.  
• Earned value is compared with the Actual value to check the cost variance of the project.
• Earned value shows the value of the project in term of schedule and cost.

Answer 2

Answer:

Ahead of schedule and under the budget.

Explanation:

Earned value analysis (EVA) or Earned value management (EVM) is the technique used to track project status and evaluate the project´s progress report. These analysis been on camparing the earned value with actual cost and planned value.