A project is reporting negative cost variance, what is meant by this?

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A negative cost variance and positive schedule variance means?
Posted by:
Muhammad Farooq
05-May-2017

A . Project is under budget B. Project is over budget C. The project is on budget D. None of the above

Cost Control PMP Cost Engineering Earned Value Management Project Management

Question added by ZULFIQAR ALI , Planning/ Project Control Manager , King Abdullah University Of Science And Technology
Date Posted: 2017/06/21

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8 Answers

by ZULFIQAR ALI , Project Controls Manager , Nakheel Dubai

The correct answer is B. Project is over budget

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by Ayoub Tartir , PMP, GWCPgM, CISA, CISSP, CAP, CSSLP, FITSP-D, CEH, CHFI, CCNA, CCNA Security, Security+, Network+ , IT Security Expert , Information Unlimited Inc. (IUI)

Option (B) Over Budget---------------

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by Zulfiqar Ali Abro , Lead Planner/ Scheduler , SNC Lavalin, Calgary Alber

Proejct is over budget is the correct answer

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by MICHAIL KOSTOUROS PMP PMI-RMP , Project Manager , SEEC S.A.

In order to have negative cost variance , Earn value is less than actual cost so for every $ i earn i spend more so the answer B. Project is over budget, is the correct

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by Keith Gregory Wright , Program Director , DynCorp International

Each budget item on a project is tracked. When the cost is greater than the budget it is identified as a cost over run or negative cost variance, Item b.

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by muhammad ahmad , geologist , oil and gase

SAP makes a distinction between planning and budgeting. Planning implies that an iterative process may occur in which many different versions of the plan may be developed until one is decided upon. The budget which can be defined as a detailed work plan describing how the approved amount will be allocated is developed once the overall plan has been confirmed.

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