Question

A standard procedure for numerically measuring a project's progress, forecasting its completion date and cost and providing measures of schedule and budget variation as activities are completed is referred to as

a) program evaluation and review technique (PERT)
b) the critical path method (CPM)
c) a Gantt chart
d) earned value analysis (EVA)

Answer 1

Earned value analysis (EVA) is the standard procedure for measuring a project's progress, forecasting its completion date and cost, and providing measures of schedule and budget variation. It involves comparing the planned value, actual cost, and earned value.

Step-by-step explanation:

The standard procedure for numerically measuring a project's progress, forecasting its completion date and cost, and providing measures of schedule and budget variation as activities are completed is referred to as earned value analysis (EVA). EVA is a project management technique that integrates schedule, cost, and scope to assess the overall performance and progress of a project. It involves comparing the planned value (PV), actual cost (AC), and earned value (EV) to determine the project's performance.