What is the function of a 'Cost Performance Report' (CPR)?

The 'Cost Performance Report' (CPR) serves a crucial role in project management by providing a comprehensive analysis of both cost and schedule performance. It is primarily utilized in Earned Value Management (EVM), which is a method that integrates project scope, schedule, and costs to assess project performance and progress.

Through the CPR, project managers can evaluate how much of the project work has been completed compared to the planned budget and schedule. This allows for informed decision-making regarding resource allocation, project timelines, and potential corrective actions if the project is veering off course financially or temporally. The report highlights variances between the planned and actual performance metrics, thus serving as an essential tool for monitoring the project's health and ensuring accountability in resource management.

Other choices do not align with the primary purpose of a CPR, as they deal with different aspects of project management unrelated to cost and schedule performance analysis.