AACE-EVP Exam Guide: Earned Value Professional Certification Mastery
                     AACE International
AACE-EVP
ExamName: Earned Value Professional (EVP)
Exam Version: 6.0
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Question 1. (Single Select)
An aerospace project budgets WBS 5.3 “Ground Support Equipment” using cost elements: design labor,
fabrication labor, materials, test labor, and vendor services. The team proposes a summary work package
“GSE Complete” with 0/100 EVT. What is a better structure?
A: Several work packages (design, fabrication, test, installation) each with appropriate EVT (e.g.,
B: Move GSE to MR
C: Keep one summary work package for simplicity
D: Use LOE for all GSE
Answer: A
Explanation:
Decomposing into phase specific work packages supports detailed planning, objective EV, and targeted
cost variance analysis by cost element and phase.
Question 2. (Single Select)
$170M renewable solar array project at 25% EV: EV $42.5M, PV $48M, AC $45M, BAC $170M.
Compliance eval uncovers completeness issues in 10% of material accounts (untracked $4M),
reasonableness via parametric (std dev 5% vs. project 7%). EVP employs Monte Carlo on sampled
accounts (n=50, 95% CI). What completeness metric >85% post-adjustment affirms EVMS?
A: Tracked value % = (EV - gaps) / PV >90% = 88%, value-based
B: Reasonableness sigma = project dev / benchmark * completeness = 82%, sigma-blend
C: Adjusted completeness = sample traceable % * (1 - std dev ratio) = 87%, parametric CI
D: Account coverage = audited / total * reasonableness factor = 86%, factor-applied
Answer: C
Explanation:
Completeness evaluation uses parametric CI per RP 34R-05, adjusting sample for dev ratio to 87% >85%,
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affirming vs. blend (B, confuses) or value (C, partial) or factor (D, vague). This ensures Guideline 6
adherence.
Question 3. (Single Select)
You are preparing guidance for EVMS implementation on a $70M DOE-funded clean energy project, per
DOE G 413.3-10B, emphasizing integration with change control. The initial PMB has 15 control accounts,
but a $10M scope change is proposed, with variance analysis showing CV = -$3M (EV = $25M, AC =
$28M). Guidance recommends using the EPASOP framework: Assess data validity, then forecast EAC =
AC + (BAC - EV) / CPI, where CPI = 0.89. Calculate EAC and recommend the change control step for
implementation.
A: EAC = $78.65M; reject change due to negative CV
B: EAC = $85.96M; integrate via baseline maintenance procedure
C: EAC = $85.96M; conduct post-change IBR only
D: EAC = $78.65M; defer to MR without EV update
Answer: B
Explanation:
EAC = $28M + ($70M - $25M) / 0.89 = $28M + 45M / 0.89 "H $28M + $50.56M = $78.56M, close to 78.65
(minor rounding). The guidance for integration via baseline maintenance procedure per DOE change
control aligns with O 413.3B, ensuring the $10M change is authorized, WBS updated, and variances
trended in monthly assessments, preventing scope creep and supporting CD-4 milestone achievement.
Question 4. (Single Select)
A project’s time-phased budget for a WBS element anticipates 2,400 direct labor hours and 600,000 USD
of direct material. By month 4, the accounting system shows 1,800 labor hours and 450,000 USD of
material assigned to three control accounts, but 40,000 USD of site inventory for this WBS element
remains unissued to specific work packages. To generate realistic estimated actuals supporting earned
value analysis, how should the project team treat the unissued site inventory?
A: Allocate the 40,000 USD evenly across all WBS elements on the project to avoid future variances
B: Leave the 40,000 USD as inventory and exclude it from current actual costs until it is issued to specific
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work packages
C: Immediately charge the 40,000 USD inventory as direct actual cost to the WBS element because it is on
site
D: Add 40,000 USD to management reserve to cover unknown future consumption
Answer: B
Explanation:
Direct material costs should be charged to the control account and WBS element when the material is
actually issued or otherwise consumed by the work, so inventory on site but not yet issued should remain in
inventory and be excluded from current actuals. Charging inventory immediately or spreading it arbitrarily
would distort cost performance timing, while moving it to management reserve would sever the linkage
between material usage and associated budgets.
Question 5. (Single Select)
$165M AR/VR platform: BN nodes technical (graphics latency P=0.4, +3mo), cost (licensing hikes P=0.3,
+$8M), schedule (beta testing P=0.35, +4mo). EV $80M, BAC $165M. Evidence: Hike observed, infers
latency P=0.45. What joint prob >0.25 for latency+hike+testing delay combo elevates integrated risk?
A: MPE 0.26 most probable explanation
B: 0.28 joint, d-connection 0.72 path
C: Marginal 0.22 latency, cond 0.31 on hike
D: CPT table entry 0.27 for triple
Answer: B
Explanation:
BN joints assess combos; 0.28 >0.25 with 0.72 d-connection amplifies via evidence, for EV lag—>0.25
triggers reviews. Marginal/cond partial, CPT raw, MPE infers—joint holistic.
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