Budget versus Funds

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EVMS and Project Management Training
Budget versus Funds

This workshop focuses on the difference between budget and funds which are a common source of confusion for users of an earned value management system (EVMS). To emphasize and illustrate the difference, examples of specific EVMS budgeting terms, logs, and reports are presented followed with specific EVMS funding terms and reports. This workshop illustrates other examples of confusion with budget and funds as well as cost growth and cost overrun terminology. This workshop also discusses the use and benefits of performing an EAC Validity Check, and an EAC preparation checklist and questionnaire.

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