Question: Suppose you are managing a software development project. The project is expected to be completed in 8 months at a cost of $10000 per month.

Suppose you are managing a software development project. The project is expected to be completed in 8 months at a cost of $10000 per month. After 2 months, you realize that the project is 30% completed at a cost of $40,000.

What is the Earned Value (EV) and the Cost Variance (CV)?

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