Project managers should focus on:
- Activities that will be performed in the near term. Why?
- Activities that have a large cost estimate. Why?
Review this formula and address the questions:
Cost variance = Cumulative earned value-Cumulative actual cost
What does it mean when cost variance is positive? What does it mean when cost variance is negative? When evaluating a work package with a negative cost variance, what two types of activities should you focus on? Why?