A project is reporting negative cost variance, what is meant by this?

The correct answer is B. Project is over budget

Option (B) Over Budget---------------

Proejct is over budget is the correct answer

In order to have negative cost variance  , Earn value is less than actual cost so for every $ i earn i spend more so the answer B. Project is over budget, is the correct

Each budget item on a project is tracked. When the cost is greater than the budget it is identified as a cost over run or negative cost variance, Item b.

SAP makes a distinction between planning and budgeting. Planning implies that an iterative process may occur in which many different versions of the plan may be developed until one is decided upon. The budget which can be defined as a detailed work plan describing how the approved amount will be allocated is developed once the overall plan has been confirmed.

PROJECT ENGINEER PROJECT CONCEPT, WHILE SITE ENGINEER IS CONCERNED ON PHYSICAL WORK ON SITE

 B. Project is over budget: Cost overrun