Week 6 - Performance measurement analysis Earned value...

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Performance measurement analysis Earned value management: Mathematical calculation to determine magnitude of variance or planned schedule costs and actual completion and expenditures. Compares project cost and schedule plans against actual achievement provides objective and quantifiable information about project health can accurately predicts project cost and schedule out come after 15% of project has been complete Requires established cost baseline costs applied to each activity associated with WBS work packages activities will proceed over time planned value or budgeted cost of work schedule is shown as a cumulative figure tracking project progress (actual data) once underway: earned value or cost of work performed captured work actually completed to date (using same units of measure as when defining project baseline) identify costs incurred to date comparing baseline and project progress: actual cost or work performed
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