Schedule Variance (SV)
There are several pieces of information that are not clear or are not necessary to be available with clarity while we go through the project. We assume and progress.
In most cases, it is done at the beginning of the project where we outline the basic assumptions and as we dive into the project we keep updating the assumptions in Assumption Log.
These details will then be included in the project charter and presented at a high level. During the course of the project, lower-level activity and task assumptions are formed, such as those concerning the following areas.
- Technical Requirements
- Estimations,
- Schedule
- Risks / Hazards.
During the whole life cycle of the project, the assumption log is where all of the project’s assumptions and limitations are recorded.
Related Posts:
- Fixed Price Incentive Fee Contract (FPIF)
- Expected Monetary Value (EMV)
- Estimate to Complete (ETC)
- Earned Value Analysis (EVA)
- Earned Value (EV)
- Critical Path Method (CPM)
- Cost Variance (CV)
- Cost Performance Index (CPI)
- Cost of Quality (COQ)
- Actual Cost (AC)
- Schedule Performance Index (SPI)
- Net Present Value (NPV)