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Instructions
Explain in detail Develop Monitoring & Control Plan and apply Earned Value Analysis for a team project.Using earned value analysis, explain how the total cost of a partially completed project can be estimated
Answer
Business and Management: Project ManagementThe current short commentary outlines a monitoring and control plan while applying an earned value analysis for a team project. It describes the appropriate stages necessary for developing the plan and provides an estimate of the total cost of a partially completed project. The monitoring and control plan document shall be used to track the project's actual performance and progress (Project Monitoring and Control Techniques, 2020). The first step in developing the monitoring and control plan shall entail identifying the goals and objectives of the project, after which the indicators shall be defined. Both the process and outcome indicators shall be determined to track the progress of the project (Project Monitoring and Control Techniques, 2020). T...
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