Section: Volume C
Explanation:
CPI = budgeted cost of work performed (BCWP) / actual cost of work performed (ACWP) US$172,500 / US$187,500 = 0.92

Explanation/Reference:
Explanation:
* Schedule variance. Schedule variance (SV) is a measure of schedule performance expressed as the difference between the earned value and the planned value. It is the amount by which the project is ahead or behind the planned delivery date, at a given point in time. It is a measure of schedule performance on a project. It is equal to the earned value (EV) minus the planned value (PV). The EVM schedule variance is a useful metric in that it can indicate when a project is falling behind or is ahead of its baseline schedule.
The EVM schedule variance will ultimately equal zero when the project is completed because all of the planned values will have been earned. Schedule variance is best used in conjunction with critical path method (CPM) scheduling and risk management.
Equation: SV = EV - PV

Explanation/Reference:
Explanation:
4.3.3.3 Change Requests
A change request is a formal proposal to modify any document, deliverable, or baseline. An approved change request will replace the associated document, deliverable, or baseline and may result in an update to other parts of the project management plan. When issues are found while project work is being performed, change requests are submitted, which may modify project policies or procedures, project scope, project cost or budget, project schedule, or project quality. Other change requests cover the needed preventive or corrective actions to forestall negative impact later in the project. Requests for a change can be direct or indirect, externally or internally initiated, and can be optional or legally/ contractually mandated, and may include:
Corrective action-An intentional activity that realigns the performance of the project work with the

project management plan;
Preventive action-An intentional activity that ensures the future performance of the project work is

aligned with the project management plan;
Defect repair-An intentional activity to modify a nonconforming product or product component;

Updates-Changes to formally controlled project documents, plans, etc., to reflect modified or additional

ideas or content.