Question

Please answer the following. Its just true or false so grant me this please.

The cost loaded schedule acts as a basis for the earned value analysis (EVA) - (T/F)?

The cost loaded schedule should include the summary from each draw, which is the total from column E and column F from each month's projected draw.   - (T/F)

Retainage should be deducted from the amount shown on the cost loaded schedule.   - (T/F)

To determine the cumulative percent complete for each month, add the percent complete this period to the cumulative percent completed in the previous month. - (T/F)

Answer 1

(A) Answer is True because Both, schedule and cost are calculated on the basis of EVA.Earned Value Analysis is an objective method to measure project performance in terms of scope, time and cost.

(B) Answer is False because The “cost-loaded” schedule required in the construction contract includes the contractors' costs, subcontracting costs, indirect costs, and profit. ... In addition to providing the budgeted earned value to CPM schedule activities the contractor's costs may also be included in the schedule.

(C) Answer is True because The retention money shall be deducted on agreed percentage (as mentioned in contact/agreement) from the amount payable to contractor or on each instalments of progressive billings.

(D) Answer is True because When a task is first created, the cumulative percent complete is zero. As soon as you enter a percent complete for the task or enter actual duration, remaining duration, or actual work so that Project can calculate percent complete, Project also calculates cumulative percent complete either to the status date or to the end of the actual duration on the task.