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Earned Value Professional Practice Test

AACE-EVP exam Format | Course Contents | Course Outline | exam Syllabus | exam Objectives

Exam Code: AACE EVP
Exam Name: AACE EVP Earned Value Professional (EVP)
Number of Questions: 120 multiple-choice questions
Time Allotted: 5 Hours (300 minutes)
Passing Marks: 70%

Organizing (12%)

- Develop EVMS procedures and policies
- Prepare guidance for EVMS implementation (e.g., recommendations)
- Train project team members (e.g., project controls, EVM, P&Ps)
- Define the project work scope (e.g., WBS dictionary, SOW, WBS)
- Define project organization (e.g., OBS, subcontractors)
- Integrate subsidiary processes (e.g., cost/schedule)
- Integrate scope with organizational structure (e.g., CAMs, control accounts, RAM)
- Generate WADs (e.g., authorize work scope)

Perform Planning and Scheduling Duties (13%)

- Develop schedule with network logic
- Identify products/milestones for progress assessment
- Evaluate project schedule compliance requirements (e.g., EVMSIG, GAO, PASEG)
- Establish integrated baseline (e.g., cost, schedule, scope)
- Conduct baseline review (e.g., IBR, informal)
- Forecast project status against baseline (e.g., cost(s), schedule, supply chain)
- Evaluate impact of schedule risk analysis (e.g., MCS, SRA)
- Perform/Evaluate Resource leveling

Perform Budgeting Duties (13%)

- Create work/planning packages
- Develop budget using cost elements
- Apply Earned Value Techniques (EVT) (e.g., EVM, PMT)
- Plan out Level of Effort work
- Apply/Evaluate overhead budgets and costs
- Sum WP/PP budgets
- Identify MR and UB
- Reconcile CBB to target values

Account Considerations (11%)

- Record direct costs and/or hours
- Generate estimated actuals (e.g., adjustment/reconcile accounting data)
- Summarize direct costs by WBS
- Summarize direct costs by OBS
- Identify unit & lot costs as needed
- Update/Evaluate indirect rates
- Track & report material(s) (e.g., BOE dollars, BOM quantity)

Analysis and Management Reports (35%)

- Validate data (e.g., anomalies, costs, progress, reasonableness, schedule)
- Calculate performance against baseline (e.g., CV, AC, ITC, MTD, SV)
- Produce EVM metric reports (e.g., cost-schedule analysis, forecast, IPMR, PSR)
- Analyze EVM performance data (e.g., BAC, EAC, ETC, IEAC, ITD, LRE, MTD, trend(s))
- Identify significant variances
- Analyze indirect CV
- Assess impact(s) of rate changes
- Analyze non-labor direct costs (e.g., business events, material(s), ODC, travel)
- Analyze subcontractor data (e.g., costs, labor, schedules)
- Assess labor demand (e.g., hours billed, levels, staff availability, trends)
- Communicate project performance (e.g., forecast, recommendations, reports, risks, status)
- Determine root cause of variances
- Assess cost and schedule impacts
- Implement corrective actions
- Maintain corrective action log from the VAR
- Assess risk (e.g., cost, schedule, technical)
- Assess budget and schedule forecasts (e.g., critical path, EAC, periodic SRA, TCPI)
- Evaluate cost metrics for compliance (e.g., completeness, reasonableness)
- Facilitate periodic program review(s) (e.g., customer, internal management)
- Facilitate periodic program team meetings (e.g., CAM, CCB)

Revisions and Data Maintenance (16%)

- Incorporate changes (e.g., budget, MR, rate, resource(s), risk mitigation, schedule, scope, UB)
- Maintain baseline (e.g., BCP and BCR)
- Manage reserves (e.g., contingency, MR, schedule margin)
- Reconcile budgets
- Control retroactive changes
- Prevent unauthorized revisions to baseline (e.g., constructive changes, freeze period)
- Document PMB changes
- Maintain WADs
- Manage logs (e.g., budget, corrective action, MR, UB)
- Conduct surveillance (e.g., compliance, data quality, process)

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