We continue with our Project Management Series. This fourth part we discuss what the execution, monitoring, and controlling phases of project management. We also cover earned value analysis. We also gave you a homework assignment!
We also cover Planned value (budgeted cost of work scheduled), Earned value – (budgeted cost of work performed) and Actual cost for completed work. Actual cost for completed work. This is exactly how much it cost you to perform the work. It depends on crew makeup, labor rates and other costs it actually took you to complete the work.