How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system?© BrainMass Inc. brainmass.com March 4, 2021, 8:03 pm ad1c9bdddf
Earned Value is a system for relating planned budget and schedule to actual time and cost performance.
First, some EV definitions:
BCWS=Budgeted cost of work scheduled i.e the $ value of work scheduled to be complete at a given point in the project.
BCWP=Budgeted cost of work performed i.e the budgeted $ value of work complete at a given point in the project, also known as ...
The solution discusses how earned value gives a clearer picture of product schedule and cost status than a simple plan versus actual systems.