Earned value for a Project

You are the project manager of the XVG Project. Your project has a budget of $267,000 and was expected to last two years. You have completed the project, but it took you 24 months to complete the project work. Your actual costs for the project came in at $289,987. What is the earned value for this project?

A. $267,000
B. $289,987
C. -$22,987
D. $.174

Solution

The earned value can be found by multiplying the percent complete times the budget at completion. This question is somewhat tricky in the sense that project in the question is already completed. Because this project is 100 percent complete, the earned value is $267,000. Hence answer option A is correct.