How to Get a Job For Project Managers

Learn how to write resume and interview

Leadership for Project Managers

Learn how to lead and drive project success.

Project Management with AI

From a beginner to project management professional.

Agile Project Management and SCRUM with AI

Learn to run Scrum and Agile with AI.

Cost Variance (CV)

At a specific point in time, the difference between earned value (EV) and actual cost (AC), indicating whether the project has a budget surplus or shortfall.

Key Points

  • Formula: CV = EV - AC.
  • CV > 0 means under budget (surplus); CV < 0 means over budget (deficit); CV = 0 means on budget.
  • Reported at a point in time as part of earned value management (EVM).
  • Used with CPI, SV, and trend analysis to assess performance and refine forecasts like EAC/ETC.

Example

At the end of month 4, EV = $400,000 and AC = $450,000. CV = EV - AC = $400,000 - $450,000 = -$50,000, indicating the project is over budget by $50,000.

PMP Example Question

A project at month 3 reports EV = $120,000 and AC = $135,000. What is the cost variance and what does it mean?

  1. $15,000; the project is over budget
  2. -$15,000; the project is over budget
  3. -$15,000; the project is under budget
  4. $15,000; the project is under budget

Correct Answer: B - Negative $15,000 cost variance indicates over budget

Explanation: CV = EV - AC = 120,000 - 135,000 = -15,000. A negative CV means actual spending exceeds the earned value, so the project is over budget.

Project Management with AI: From Initiation to Closing

Build a practical project management process from initiation to closing with our Project Management: From Initiation to Closing with AI course. Learn how to move from informal project coordination to a structured, repeatable approach using PMBOK-aligned workflows, real examples, and professional templates.

This hands-on course follows a complete project lifecycle. You will learn how to write a project charter, define scope, build a work breakdown structure, develop a schedule, estimate costs, manage risks, engage stakeholders, execute the work, monitor performance, and close the project properly.

You will also learn how to use AI tools to accelerate project management work. The course includes reusable prompts, downloadable templates, assignments, and worked examples that show how project documents connect from one stage to the next.

The course is designed for professionals, team leads, coordinators, analysts, and new project managers who need practical skills they can apply at work. Enroll now and build the confidence to manage projects with structure, clarity, and control.

Explore the Course


Lead with clarity, influence, and outcomes.

HK School of Management offers a practical Leadership for Project Managers course for real projects, tight deadlines, and cross-functional teams. Learn to set direction, align stakeholders, and drive commitment without relying on title. Practical skills, tools, and guidance you can apply right away. Covered by Udemy's 30-day refund policy.

Learn More