Topic Teasers Vol. 112: PMBOK^® Guide—Sixth Edition New Earned Schedule Theory

Have a question you would like to submit as a potential Topic Teaser? Send a message to Barbee Davis today!

SHARE
Request to reuse this
Add to my favorites
Topics: Earned Value Management, Estimating, Schedule Management, Scheduling, Using PMI Standards

One of my colleagues told me that they are changing the earned value management (EVM) formulas. We have many projects in progress, with automated charts and spreadsheets configured with the current calculations I was taught to use in my Project Management Professional (PMP^®) certification exam prep training. Is this true that the math is being altered by PMI?

A. In the light of Bitcoin and other technical options for evaluating project work, project managers are being asked to upgrade the way they decide which projects’ processes are truly successful for their organizations and which ones are fine under old standards—but fail with the new industry guidelines. PMI’s latest publication, Bitcoin and Other Project Disrupters, can give you steps to protect your projects.

B. If you work in the financial industry, new governmental regulations for international trade and money exchange means that you will need to calculate earned value in a new way. The deadline for having all of your paper and electronic files changed over to the new system is March 31, 2019. There are stiff fines if your company is found in non-compliance, so be sure to address this right away.

C. Your colleagues are having some fun with you. PMI would …

Please log in or sign up below to read the rest of the article.