A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts.
Written by Elizabeth Harrin from RebelsGuideToPM.com.
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Date
I’m surprisingly enjoying my deep dive into earned value management – it’s not a technique I would say I’m hugely experienced in, but it’s something I’m committed to learning more about.
In this infographic I summarise the 5 limitations of earned value:
- Numbers don’t tell you the whole story and you need a bit of contextual narrative too
- Data has to be accurate otherwise you’re making assumptions and predictions based on what isn’t truly happening
- Quality has to be assumed because EV doesn’t factor in quality as part of the way it measures performance
- EV and Agile aren’t perfectly aligned but that’s OK because if you’re in an agile team you’ll have other (more appropriate) ways of measuring performance
- There is a lot of jargon! And the words sometimes can get in the way of being clear about what you are talking about.
What other limitations of Earned Value have you come across as you’ve used it? Or perhaps you aren’t using EV because of another limitation that is stopping you from embracing it in your environment? Let us know in the comments below!
Posted on: April 13, 2021 07:00 AM |
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