Cost variance (CV)

R295

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In 35 minutes you will calculate CV from earned value and actual cost. You will also read the sign: negative is over budget, positive is under. And you will express CV as a percentage of earned value to judge its size.

SKU: PL-MCB-PRJ-03
Category:

Description

Who it’s for: Anyone running or reporting on a project who needs to know whether the money spent has bought the work it should have.

What happens in it: a short film shows a project with money still in the bank, finished work that cost too much, and the number that names the gap. In Your call you make the decisions in a real case: refurbishing the guest rooms of The Wrenfield, a boutique hotel on the coast, on a total budget of R1,600,000. The owner wants to know, in rand, whether we are over or under budget. 35% of the work is complete, and the actual cost to date is R644,000. Then, in the boardroom, you make the case to Delphine, the project manager, in three questions.

How it works: five scenes in about 35 minutes: the data film, the lesson, Your call, practice with fresh numbers that mark themselves, and the boardroom. Finish all five for your certificate. It is course 3 of 5 in the Cost and schedule control season of the Project Management series.

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