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: Need an image)
Read the the section Managing the Budget in the prescribed textbook (Web | PDF), Chapter 12 (page 112 to 117 in the pdf version).
This section covers how to identify when costs are varying from the budget and how to manage those variations.
- Earned Value Analysis - a method of periodically comparing the budgeted costs with the actual costs during the project.
- Schedule Variance - the difference between planned and actual progress.
- Estimated Cost to Complete the Project - a prediction, part way through the project, of how much money it will take to complete the unfinished activities.
(: What do we want as an activity here?)
