If the Earned Value is equal to Actual Cost, it means?
a. Schedule Variance Index is 1.
b. Project is on budget and on schedule.
c. There is no schedule variance.
d. There is no cost variance.
The correct answer is: There is no cost variance.
EV – AC = Cost Variance. Therefore if EV = AC, the Cost Variance is zero (i.e. Project is on budget (but not necessarily on schedule, as there is not enough information on schedule variance).