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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Video: https://youtu.be/VI0Qh_VpIEw Phill Alzinwale
Title: Earned Value Management Basics
1. What are the three basic questions to ask regarding the budget and earned value?
2. What are formulas for earned value management?
3. What is the criteria to determine if the cost or schedule variance is over budget or under
budget and over schedule or under schedule?
4. How much work will be done? represents the work was _________ for the project and is
the ______________.
5. How much work was done? represents the amount of work that was ____________ and
is the _______________.
6. How much was spent on work done represents what was __________ spent and is the
__________.

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4. How much work will be done? represents the work was _________ for the project and is
the ______________.
5. How much work was done? represents the amount of work that was ____________ and
is the _______________.
6. How much was spent on work done represents what was __________ spent and is the
__________.

Solution