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Explain your understanding of the "Determine the Budget" process

Project Management

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Explain your understanding of the "Determine the Budget" process.

What is the Cost Baseline, and why it is so important? 

 

Explain your understanding of key terms as part of the EMV project performance measure/technique to measure performance for cost, schedule and scope, as follows. Pick any of the terms and explain your understanding. 

• Planned Value (PV)
• Actual Cost (AC)
• Earned Value (EV)

 

Explain what it is the CPI and SPI and how you can use these indexes to measure project performance.