Define the concepts of cost variance and schedule variance.
Your company has decided to use the earned value management (EVM) technique to monitor and control projects. In a report of 3–5 pages, complete the following:
Define the concepts of cost variance and schedule variance.
Demonstrate your understanding of EVM by using appropriate examples to illustrate the schedule performance index (SPI).
Analyze how knowledge of the SPI will help you as a project manager in controlling the project and ensuring that it is completed within the scheduled target.
Describe the process of project cost management to include creating a baseline of expenses, tracking and managing cost and addressing cost overrun risk during the project life cycle.
Explain how you would use Microsoft Project or another project management tool to manage project cost.
Complete your paper and reference sources using APA style.
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