Earned Value is a technique that allows a project manager to monitor the 'value' of the project efforts with regards to its: Planned value Earned value Actual cost This allows the project manager to determine if the project is on track or not, as earned value tells the project manager how much of the project's budget and time should have been spent' in achieving the work completed to date. Given what you have learned about earned value in this course, which of the following statements (more than one are correct) are a valid interpretation of the following graph? Planning Phase Execution Phase Closing Phase Progress (In $ amount) Planned Value (PV) Earned Value (EV) Actual Costs (AC) Time The project is behind schedule. The project's costs are below the budgeted costs. The reason PV is shown to the end of the project is that it represents the project's original budget and does not change during execution. The information presented in the graph would only be of interest to other project managers; the project team or other project stakeholders would have no interest in it. Based on the graph, it is obvious that the project must have used the 10/90 rule for determining the project's earned values