Earned Value Management Formulas...Illustrated
Did you ever find yourself in a lost state, and you know how you would get there… if only you had a map and a compass?
I found myself in the above predicament while studying intensely for the Project Management Professional (PMP)® certification exam.
The intent of this article is to explain how I found my true North in the understanding of Earned Value Management formulas. It was a pivotal moment to change my thinking from formula memorization to full comprehension, and I was able to do so through visualizing it.
In comparison, I would equate it to the difference of a meteorologist audibly describing an approaching storm—describing wind speed, direction, temperature, latitude/longitude coordinates, etcetera. Compare that to a Meteorologist using satellite weather maps as a visual aid. For me, seeing it in motion instantly makes much more sense.
The Bright Light Bulb Moment
During my studies for the PMP exam, I have to admit, I struggled with the Project Cost Management Knowledge Area of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), and was overwhelmed with over 16 EVM formulas to commit to memory.
I read several books and articles on the subject and generally understood the text book explanations. However, there was one illustration from “
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