Describe the concept of earned value in project monitoring, Project Management

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Question:

(a) What are the checks/actions to be carried out in a project monitoring meeting?

(b) What is the rationale behind the concept of "earned value" in project monitoring?

?what information is needed at planning stage,
?what information is required when collecting data at specific intervals,
?what values are calculated and ? how these values are used to interpret progress.

(d) What corrective actions can be taken in the following cases : ?

Task is behind schedule.
Quality of deliverable for a task is below standard.

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