percent of work complete times the given budget at completion. On your PMI exam, you'll always be provided with the actual costs, which are the monies that have already been spent on the project. You'll have to do some math to find the planned value; it's the value where your project should be by a given time. The formula for planned value is the percentage of project completion based on where the project should be at a given time. For example, let's say you're supposed to be 80 percent complete by December 15. If your budget is $100,000, in this instance, your planned value is $80,000.

Project Management Made Easy

Project Management Made Easy

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.

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