In Expert Judgment: How to Incorporate the Latest Developments in Using this Common PM Tool, Paul S. Szwed provides research that will help project managers become more adept at using expert judgment effectively.
How do you transform your organization into a better version of itself? This session will share the journey of transformation and highlight some effective techniques that helped accelerate the rate of learning and improvement across the enterprise.
The Dynamic Progress Method: A New Alternative to the Critical Path Method
This presentation will place EVM within the context of a maturing enterprise looking to understand what EVM is and is not, what it can do, and how to discuss a ‘tailored’ implementation. Attendees will learn how Earned Value is incorporated within the PMBOK®, within the project management methodology and how to ‘speak’ about the values delivered by EVM in terms of objective Technical Performance Measures (TPMs).
Save Time With Tools + Templates
Is your project on time and within budget? This tracker will guide you through the Earned Value Method, giving a clear, step-by-step approach to help you answer that question.
This Excel sheet performs the calculation for earned value and earned schedule analysis. The forecast resulting from all KPIs [time-based SPI, CPI, CPI (internal), CPI (external) and WPI] is calculated based on the different forecast methods proposed by A Guide to the Project Management Body of Knowledge (PMBOK® Guide). The user can choose which method shall be used for each KPI.
This MS Excel template is an example of a small or middle-range project including a WBS, a simplified schedule and a summary of progress, which uses earned value management (EVM). The supporting article (Stop Being Scared of Spreadsheets!) encourages mainly junior PMs to play with the template and practice their knowledge on small projects. The article is not a step-by-step tutorial. Instead of detailed instructions, it discusses a few things that are crucial to start both managing projects and advanced work with spreadsheets.
Earned value analysis is an excellent technique to assess project health and apply metrics to manage your project. Use this presentation to conduct an earned value orientation for your team members.
Learn From Others
When it comes to scheduling, you cannot do advanced tasks before covering the basics. Most people want to do PERT analyses and critical path sensitivities, Monte Carlo simulations and applications of earned value techniques. Those tools can be helpful in providing guidance for better decision making, but a lot of ground must be covered first.
It can sometimes get lost that there are a great number of projects initiated every day that will never have a formal budget associated to them. It is important that PMs and management not lose sight that even internal projects can benefit from the rigor of cost management processes and EVM principles.
Scared of spreadsheets? Don't be! They are a necessary and valuable tool in the project manager's arsenal. This article and its accompanying template are not a step-by-step tutorial. Instead of detailed instructions, it discusses a few things that are crucial to start both managing projects and completing advanced work with spreadsheets.
The use of traditional empirical project management tools can be used in a simple way to manage and control project deadlines and costs without losing the flexibility of agility. In this article, we are going to mix a traditional technique with agile management using a simple practical example.
This article highlights why project financial assessment is so prone to errors during project monitoring, and illustrates a better practice for applying earned value to analyze and report project schedule and cost data quickly and accurately.
The whole point of Earned Value Management is to use past project performance measurements to depict the current standings and predict future efforts and resources required to complete the project goals. If you think in pictures, this illustrated formula will aid in your pursuit of certification or provide a refreshing perspective for veteran practitioners.
The purpose of this article is to guide project managers in implementing an earned value management system by following ANSI/EIA-748 guidelines in a manner consistent with agile software development methodology.
Earned value management is a technique that integrates scope, cost and time to highlight how the project has done in the past and predict how it is expected to do in the future. This article discusses a few basic concepts of EVM and is useful for anyone looking to get started on this topic, as well as for candidates preparing for certification.
The project workflow framework enables even the inexperienced project manager to use detailed step-by-step guidance, examples, tools and practical advice, freeing experienced project managers to manage programs and portfolios and promoting better use of project resources to reduce the cost of projects across all industries.
A Theoretical Approach to Traditional Project Metrics-Bridging the Gap Between Earned Value and Critical Path Project Managementby
Since work completed from tasks not on the critical path does not affect the completion date of a project, it is important to differentiate tasks that are “critical” from those that are not in order to better monitor and control them. The project performance metric, critical path task index (CPTI), offers a more holistic view in terms of schedule performance for tasks directly related to schedule completion.
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