Cost Variance (CV) is calculated using the formula CV = EV - AC. This metric helps project managers understand if they are over or under budget. In this case, CV = $68,000 - $75,000, which equals -$7,000, indicating that the project is over budget.
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What is Earned Value (EV) in project management?
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This question's topic:
PMI Project Management Professional (PMP) /
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