Budget has been really tricky to navigate on the new product build. Once the project has started, yourself as the project manager have done a calculation and come up with a value earned of 20,000 but the actual cost was 18,000. 

What is the cost variance, and what does this number tell us? (Is the project ahead of schedule behind schedule? Or under or over budget)?

Answer rating: 100% (QA)

The cost variance in project management is a measure of the difference between the earned value the ... View the full answer