Out in the real world, I'm sure your projects are never late and never over budget (ha-ha—pretty funny, right?). For your exam you'll need to be able to find the cost and schedule variances for your project. I'll stay with the same $500,000 budget I've been working with in the previous examples and as demonstrated in Figure 7-7. Finding the variances helps the project manager and management determine a project's health, set goals for project improvement, and benchmark projects against each other based on the identified variances.
Was this article helpful?
What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.