Cost management

As the project is a research task it does not have a monetary project budget. This is why the time (the working hours of 37,5 hours per week per team member) is now used as ‘budget’. According to the WBS and the project schedule (Gantt chart) every task has a unique ‘hours budget’.

The Earned Value Analysis (EVA) keeps track of the work progress and the value generated.

 

Earned Value Analysis (2).PNG
Earned Value Analysis

The hours worked on studies are written down in an Excel file, generating graphs for every team member:

Working hours (2).PNG
Working hours
Cumulative working hours (2).PNG
Cumulative working hours
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