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Simon is managing a simple project that involves painting the inside of a square room. On this project, only four walls will be painted. The project will last four days and one wall a day will be painted at the budgeted cost of 50 per wall. At the end of day 2, Simon reports the following status: 3 walls are complete and, so far the total expenses are 120. What is the planned value (PV)? 120 100 50 150

Question

Simon is managing a simple project that involves painting the inside of a square room.
On this project, only four walls will be painted. The project will last four days and one
wall a day will be painted at the budgeted cost of 50 per wall. At the end of day 2,
Simon reports the following status: 3 walls are complete and, so far the total
expenses are 120.
What is the planned value (PV)?
 120
 100
 50
 150

Simon is managing a simple project that involves painting the inside of a square room. On this project, only four walls will be painted. The project will last four days and one wall a day will be painted at the budgeted cost of 50 per wall. At the end of day 2, Simon reports the following status: 3 walls are complete and, so far the total expenses are 120. What is the planned value (PV)? 120 100 50 150

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LouisVeteran · Tutor for 10 years

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\$ 200

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## Step 1: Understand the problem<br />The problem is asking to calculate the Planned Value (PV) of Simon's project. PV is the estimated cost for the work planned or scheduled. In this case, the work planned is painting four walls, with each wall costing $50.<br /><br />## Step 2: Calculate the Planned Value<br />The Planned Value (PV) is calculated by multiplying the number of units (in this case, walls) planned to be completed by the cost per unit (in this case, per wall). <br /><br />### \( PV = \text{Number of units planned} \times \text{Cost per unit} \)<br /><br />## Step 3: Substitute the values into the formula<br />In this case, the number of units planned is 4 walls and the cost per unit is $50. <br /><br />### \( PV = 4 \times 50 \)
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