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Running head: IMPORTANCE OF EXPECTED MONETARY VALUE IN PROJECTS Importance of Expected Monetary Value in Projects Student Name Institution Affiliation IMPORTNCE OF EXPECTED MONETARY VALUE IN PROJECTS 2 Analysis on Expected Monetary value This is technique is based on the analysis where calculations are composed to determine a certain output assuming that the future contains some circumstances that are likely to take place or not. The circumstances can either happen individually or in a larger magnitude that affects the whole firm. Additionally, it is important for project group to use reproductions and demonstrating when directing an expense schedule since it is in all actuality fundamentally more intense and is normally subject to the less mistaken application than other scientific strategies (Kendrick, 2016). Although EMV can be conducted at any cycle of a project, it is important to be done on the early stages on the project. It is very clear that project management can face any unexpected situation. These situations are referred, to as ‘what-if situations'. When these scenarios occur they do not only affect the whole program but also the project group is caught unexpectedly. The project team has to come up with a management process that evaluates how to handle these situations if their effects are positive or negative. These scenarios include a delay in deliveries and strikes among the team. To prevent the ‘what-if scenarios from interfering with the project, th ...
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