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– Nelson Mandela

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Cost and Value Management Lesson 1 Homework

Cost and Value Management Lesson 1 Homework

Q 1. Why is cost and value management important in projects?

Q 2. What are the essential features of effective project value management?

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The chief features which outline the success of the project are twofold: enhancing and creating value and handling costs to attain efficiencies. Stakeholders of the project are enabled by these two components to know the required resources and activities to fulfill the goals of the project together with the required expenses to finish the project to the fulfillment of the customer (Pinto & Venkataraman, 2008).