Final Exam Torhr Layout References Mailings Review View Help Tell me what you wa

Question

Final Exam Torhr Layout References Mailings Review View Help Tell me what you want to do into the word document (do not provide your project management tiles) What is precision medicine? How is precision medicine different from predictive medicine? (10 points) 6. Given the following information and formulae from the lecture, calculate earned value and cost variance (10 points): 7. Rate of performance: 65% Planned value: $4000 Actual cost: $6000 a Using the data in the table, and provided severity of CHF, Mi, Diabetes, Hypertension alcohol use, assess the overall severity of the nine cases in Table below. Plot the patient s length of stay against overall severity of ilness (40 points)

Explanation / Answer

Cost varaince is used to measure the variance between actual cost and budget cost.Cost variance is one of the measure for performance of the project.Cost Variance can be calculated by Earned Value-Actual Cost

Earned Value is used as a projection or by using a status of completion ie. how much budget is required and how much time is required considering the amount of work donr till day.

Planned Value is the budgeted amount through the current reporting period

Actual Cost=Actula Cost to date

Earned Value=TOtal budget of the Project*% completion of the project

GIven Performance=65%

Planned Value=$4000

Actual Cost=$6000

Earned Value=$4000*65%=$2600

Cost of Variance=Earned Value-Actual Cost

=$2600-$6000=$3400

Hence the budget is underbudgeted.The actual cost is more than the Earned Value and the budget is to be revised

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.