Earned Value Management Involves Calculating Three Values for Each Activity

question 10

Essay

 Earned value management involves calculating three values for each activity or summary activity from a project's WBS. Describe each of these three values with examples.

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Definitions:

Previous Year

The 12-month period immediately before the current year, used as a reference point for comparing data or statistical analysis.

Unemployment

The situation where individuals who are willing and able to work are not currently employed.

Inflation

The magnitude of growth in the overall price points for goods and services, weakening the efficacy of spending power.

Government Spending

The total amount of money expended by a government on various sectors, including infrastructure, education, defense, and social services.