Briefly Describe the Important Differences Between Earned Value Management and Earned

question 10

Essay

Briefly describe the important differences between Earned Value Management and Earned Schedule.Why is Earned Schedule gaining acceptance in project management circles?

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Definitions:

Unilateral Contract

A contract where only one party promises a reward in exchange for the performance of a specific act by the other party.

Contract Formality

Contract formality refers to the requisite legal formalities and procedures, such as written documentation or specific terms, necessary for a contract to be considered valid and enforceable.

Quasi Contract

A legal concept where courts impose a contract-like obligation on a party to prevent unjust enrichment, even though no real contract exists between the parties involved.

Oral Contract

An agreement between parties that is made through spoken words and is legally binding, although it may be difficult to prove.