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Running head: EARNED VALUE 1 Earned Value Ashley Gibson Project Budget Procurement & Quality Professor Allour February 18, 2019 EARNED VALUE 2 Earned value Introduction In every single project, project managers strive to ensure that the project is not only completed on time but also within the agreed upon budget. One way to ensure that the project remains on schedule and its costs remain within the budgeted costs is to use the earned value technique. This technique enables project managers to be able to measure project performances against project baseline thereby being able to ascertain whether the project is on schedule & on budget (Ellis, 2014). In this paper, the earned value technique will be applied on the NearlyFree.com project which is intended to automate the web-based training system for new employees to reduce the workload as well as cut down personnel resources that are required to complete the new employee orientation (NEO) training. Earned value techniques that will be utilized will include the cost variance and schedule variance techniques. The cost variance is simply the amount of budget deficit or surplus at a given point in time, and is expressed as the diff ...
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