We study a vortex in a two-dimensional, harmonically trapped Bose-Einstein condensate at zero temperature. Through a variational calculation using a trial condensate wave function and a nonlinear Schrödinger Lagrangian, we obtain the effective potential experienced by a vortex at an arbitrary position in the condensate, and find that an off-center vortex will move in a circular trajectory around the trap center. We find the frequency of this precession to be smaller than the elementary excitation frequencies in the cloud.We also study the radiation of sound from a moving vortex in an infinite, uniform system, and discuss the validity of this as an approximation for the trapped case. Furthermore, we estimate the lifetime of a vortex due to imperfections in the trapping potential.