Question

How does EVM, financial reporting amd cost reporting affect the projects status in reference to time?

How does Earned Value Management, Financial Reporting, and Cost Reportint affect a projects status in reference to time?

Answer 1

Earned value management is one of the the proactive Management concept in which the regular benefits related to the expenditure in in consideration with the project is regularly monitored and benefits are regularly analysed.

Financial reporting and cost reporting are important in order to record all search expenditure related with financial management of the company and cost management of the company so these are important element in order to determine the overall status of the performance of company in relation to various projects.

This will affect the project status when time consideration is done because these will adequately minimise overall time completion duration related to a particular project and it will also focus into effective management of project selection and project monitoring through cost-efficient techniques and cost benefit techniques so these are highly proactive techniques in order to determine the progression related to to different project and it is also used to overcome the variations between the budgeted and the actual.