Six Sigma Global Institute (SSGI) Project Management Professional Certification Practice Exam

What does Schedule Variance measure in project management?

1. Difference between planned and actual progress

2. Amount spent versus amount budgeted

3. Difference between project scope and deliverables

4. Deviation in customer satisfaction levels

The correct answer is: Difference between planned and actual progress

Schedule Variance is a key performance indicator in project management that measures the difference between the planned progress of the project and the actual progress achieved at a specific point in time. It is calculated using the formula: Schedule Variance (SV) = Earned Value (EV) - Planned Value (PV) Where Earned Value represents the value of work actually completed, and Planned Value is the value of work that was planned to be completed by that time. A positive Schedule Variance indicates that the project is ahead of schedule, while a negative Schedule Variance suggests it is behind schedule. This measurement provides project managers with insights into timeline performance, helping them to identify and address potential delays proactively. The other options address different aspects of project management but do not relate specifically to scheduling. For instance, the second option refers to budget variances, which involves cost performance rather than schedule performance. The third option pertains to the project's scope and deliverables, focusing on the work being done rather than the timing of that work. The last option discusses customer satisfaction, which, while important, is not directly related to the measurement of project schedule performance. Hence, the focus on the difference between planned and actual progress makes the first choice the most accurate representation of what Schedule Variance