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Project Management: Budget vs. Actual costs

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An inexperienced project manager analyzed the budget vs. actual costs and found that project spending was 10% under budget and was overjoyed at such "good news." What might a seasoned project manager who understands earned value recognize as "not-good-news" about the situation and its impact on the project?

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Solution Summary

This solution discusses the scenario from the experienced project manager's point of view.

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The problem is that as the question indicates, spending less isn't always positive, particularly when we analyze the spending in terms of earned value management. We have to look at the amount spent in comparison to the time we have invested into the project and then analyze our spending. If we've spent 60% of our budgeted ...

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