ப்ராஜெக்ட் மேனேஜ்மென்ட் - காஸ்டிங் அண்ட் பட்ஜெட்டிங் (Schedule variance and Cost variance)

ப்ராஜெக்ட் மேனேஜ்மென்ட் - காஸ்டிங் அண்ட் பட்ஜெட்டிங்
Learning Project Management - Schedule variance and Cost variance. This lecture will help you to understand the calculation principles behind the project forecasting for an ongoing project. This eases in identifying the schedule and cost factors and understand whether the project is on track or is there a deviation.

Schedule variance = Earned value - Planned value
= $40,000 - $50,000
= (-)$10,000 (Behind schedule)

Cost variance = Earned value - Actual cost

Here the actual cost is the overall cost planned for the project which is $100,000

= $40,000 - $100,000
= (-)$60,000 (Over budget)

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