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ab2346 replied to the topic planned value vs actual costs in the forum Project Management Process and Medical Device Development 6 years ago
In the monitoring and controlling phase, it is very important to keep track of unexpected growth. That growth can be in terms of monetary value. The project might go through a scope change that would require a larger sum of money to complete. The monitoring and controlling phase helps keep track of those scope changes and those planned and actual costs. It allows for there to be continuous updates to the actual costs and compare that to the planned value.