Planned Value Is

question 4

Multiple Choice

Planned value is:

• A)The total budget for the project.
• B)A cost estimate of the budgeted resources across the project's life cycle.
• C)The real budgeted value of the work that has actually been performed to date.
• D)The cumulative total costs incurred in accomplishing the various project work packages.

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Definitions:

Exponential Distribution

A probability distribution that describes the time between events in a process where events occur continuously and independently at a constant average rate.

Service Times

The duration or periods required to complete specific tasks, especially in the context of customer service or manufacturing.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Process Simulation

A technique used to model, analyze, and predict the behavior of processes, often through computer software, to enhance efficiency and decision-making.