Earned Value , Variance Analysis and Project Monitoring
Monitoring the progress of the project as it progresses throughout the various tasks which are to be completed in order to attempt project objectives and aims which for the basis of the project. All throughout the project, there is data which is collected and is used to control the project and ensure the project stays on track with time, resources and costs. The control process of a project is a process which consists of the following steps: · setting a baseline plan which is the elements used to measure the project performance, found within the work breakdown structure formed at the beginning of the project management process · measuring progress & performance of time and budget within the planning process. The management of time is based on the project network schedule and the critical path and taking into account the earned value which is the budgeted cost of the work performed for the project · comparing the plan against the actual resources,...