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Doreen is asked to do provide an Earned Value of her project to the Executive Team by next Tuesday. In her calculation she has used both the anticipated work completed as well as the actual work completed and finds that the results for SPI is >1 and CV is positive. What does this tell her and how should she prepare for her meeting with Executive Team next Tuesday
It tells her that she is behind on both budget and schedule, she needs to plan a recovery
It tells her that she is behind on planned work but on track with budget and will need to see how she can make up for lost time
It tells her that she is ahead of planned work, but behind on budget and will need to see where she came make up the cost
It tells her that she is ahead on both budget and schedule, she will report good news
Ahead on budget and schedule is correct as SPI >1 indicates she is ahead of planned schedule and CV being positive shows she is under planned cost or ahead of budget. behind on both budget and schedule is incorrect as this is an indication that SPI<1 and CV is (-). Ahead of planned work but behind budget is incorrect as SPI>1 is correct but CV is (-) which would be incorrect in this case. Behind on work but on track wtih budget is incorrect answer as it would indicate SPI<1 which is incorrect in this scenario while CV is correct. (PMBOK 2013 Rev 5th Edition, pgs 217-225).
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