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Answer :
Final answer:
In Earned Value Management, the Cost Variance (CV) equals the Earned Value (EV) minus the Actual Cost (AC). It is an important formula in project management to monitor and control project costs.
Explanation:
In the concept of Earned Value Management (EVM), the Cost Variance (CV) is defined as the difference between the Earned Value (EV) and the Actual Cost (AC). Therefore, the correct answer to your question is c) EV minus AC. This formula indicates whether projects are on budget. A positive result indicates that a project is under budget while a negative result signifies it is over budget. Remember, CV = EV - AC is an important formula in project management and especially in the work concerning the monitoring and control of project costs.
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