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Planned Value: It is the scheduled amount of money that you have been earned so far.
Earned Value: It is the amount of money that you have been earned so far,[link widoczny dla zalogowanych].
Actual Cost: It is the amount of money that you have been spent so far,[link widoczny dla zalogowanych].
To obtain these objectives,[link widoczny dla zalogowanych], the project manager employs a variety of techniques. And the technique used in this case to analysis the project cost and project schedule is called the Earned Value Analysis and Forecasting Analysis.
What is the current status of the project,[link widoczny dla zalogowanych]?
How much money has been spent,[link widoczny dla zalogowanych]?
How much time has been spent?
How much money is left?
How much time is left?
How much value of money we have earned?
How much time it will take to complete the remaining work?
How much money it will take to complete the remaining work?
Whether we are ahead of or behind the schedule,[link widoczny dla zalogowanych]?
Whether we are under or over budget?
Hopefully, you would have been understood the importance of Earned Value analysis and Forecasting.
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Estimate-To-Complete: This is the approximate amount of money that you will spend to complete the remaining project work.
Estimate-At-Completion: This is the approximate amount of money that you will spend to complete the project.
Three basic elements of Earned Value Analysis are as follows:
This is all about Earned Value Analysis and Forecasting Analysis in project management. I hope that now you have a better idea about these cost management concepts.
Earned Value Analysis and Forecasting Analysis help the project management team to find the answers of following questions:
Forecasting is another technique in project management that helps the project manager to estimate the expected amount of time and money needed to complete the project,[link widoczny dla zalogowanych]. Forecasting analysis tells you that if you allow to proceed the project the way it is going then how much extra time or extra money will be needed to complete the project. Forecasting analysis helps you to find the future outcomes of the project based on the current performance and assist you to take preventive or corrective action if needed.
By Fahad Usmani
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We need both of them because variances give the value in money term and indexes in ratios. If you have only one project then variance analysis may be sufficient; however, if you have more than one project with high cost then indexes help a lot to compare the health of projects.
Earned Value Analysis has a significant role in the project management because it provides information about the health of the project and allows the project manager to take corrective or preventive action so that the project could be completed successfully,[link widoczny dla zalogowanych].
Two Indexes are as follows:
Two Variances of Earned Value Analysis are as follows:
Cost Variance: It provides you the information about whether you are under budget or over budget in dollar terms.
Schedule Variance: It provides you the information about whether you are ahead of or behind the schedule in dollar terms.
Cost Performance Index: It tells us whether we are over budget or under budget.
Schedule Performance Index: It tells us whether we are behind the schedule or ahead of the schedule,[link widoczny dla zalogowanych].
Now, let us move into more detail.
Earned Value Analysis is a method that helps you to measure and assess the project’s progress and performance. This analysis provides you all information about the current status of the project; e.g. how the project is going, if your project is ahead of schedule or behind the schedule and whether you are under budget or over budget etc. This information is very important for all stakeholders because everybody will be interested in knowing all of it.
Earned Value Analysis: Earned Value Analysis has three elements; i.e. Planned Value, Earned Value and Actual Cost. It also has two variances as well; e.g. Cost Variance and Schedule Variance, and two indexes; i.e. Cost Performance Index and Schedule Performance Index.
Now, you may be puzzling that if we are getting the same information from the indexes and variances, why do we not use any one of them? Why do we require both parameters?
For example,[link widoczny dla zalogowanych], let us say that you have a project and 40% of it has been completed. In this case, Estimate-To-Complete will be the amount of money to be used to complete 60% of remaining work and Estimate-At-Completion will be the amount of money to complete the 100% of project.
Every project manager wants to complete his project successfully; i.e,[link widoczny dla zalogowanych]. within the given time and approved budget so that the organization could earn a profit.
Forecasting Analysis: Forecasting Analysis has two elements; i.e. Estimate-To-Complete and Estimate-At-Completion,[link widoczny dla zalogowanych].
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These were some of the most effective home remedies to lighten hair. But it is recommended to check the effects of these remedies by cutting few strands of your hair and then subject these strands to the remedies. This will help you to choose the best remedy which can give you the desired results.
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Money With The Right Attitude Leads To Great Things
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Here's to being proud of your kids without any need to make them trophy kids! not tossed about by this sea of new Light coming, with unveiled faces, If you and your spouse can’t work out a written settlement agreement on your own.
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Apollo is quite similar to the software Basecamp. reality is not that dramatic!.Here an ethical hacker is a person who understands and has a working knowledge of computer systems and also has the knowledge of certain tools which is incorporated to find the vulnerabilities in the working of a computer system and network What is CEHv7 training all about
The Certified Ethical Hacker - CEHv7 is established and provided by the International Council of E-Commerce Consultants (EC-Council) CEHv7 training and certification program validates and certifies the abilities of IT professionals with the skills and abilities to perform certain responsibilities in a particular job role CEHv7 training and certification is one of the high-in-demand IT certifications the demands of IT professionals with this credential is soaring high all time This is one of the best resorts for organizations in these susceptible times to safeguard their IT infrastructure Every often IT professionals are required in the organization to audit security policies and secure the sensitive data and save their business from any security wreckage Hired by the employers ethical hacker’s works include realizing the loopholes in the network or the system and reporting the consequences to the owner of the system or the network The suggested measures are also supposed to be mentioned and how to tackle the vulnerabilities is also understood and worked upon The entire process revolves around finding gaps in the system set up and measures to rectify the security issues This entire process is worked upon by the IT professionals who have pursued CEHv7 certification What is the significance of CEHv7 training and certification program
Malicious hacking crimes are inevitable these days with the growing technologies the security threats are also increasing Malicious hackers try to acquire unauthorized access to the corporate network just to fetch some sensitive data and create trouble or steal delicate information from the systems Mainly CEHv7 training enables the IT professionals to make the penetration system more complex and reduce the illegal hacking in the systems critical Ethical hackers employ different methods to find out the vulnerabilities in the target systems Finding the correct professional or a candidate for such job profile is very crucial and one of the toughest decisions Things that are supposed to be taken care of while selecting a candidate are many like finding out whether the professional is equipped with latest knowledge of the technology the certifications are genuine and to find out that the professional actually knows what is claimed What after CEHv7 training and certification
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