What is the importance of a variance to a project budget

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Reference no: EM1343501

Risks in a Project

1. What types of risks are inherent in a project? Where do they originate? Can they be mitigated? How? What are the consequences of ignoring a conflict within a project team?

2. What is the importance of a variance to a project budget, schedule, or specification? How does a PM find the root cause of a variance? Is there an acceptable variance? Is a variance ever acceptable? Why or why not?

3. What is the concept of earned value? What real life examples would illustrate the earned value concept? How does this approach to performance measurement differ from simply tracking cost or schedule?

Reference no: EM1343501

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