Activity

  • For a animal trial study I worked on we had a cost variance associated with the study, and did end up going over budget as our cost variance was negative. Our earned value on the project was estimated at about $30,000 and the actual cost came out to around $55,000. This negative gap was a result of delays in the animal study which led to rising costs, each day the study was delayed. Moreover, there was an error conducting the study the first time by the contract lab which further increased our estimated time frame and caused us to conduct another study. When you have such a large gap in your cost variance it does cause many headaches because it is usually the result of many different factors that are causing setbacks within your project.