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Topics: Earned Value Management
Are there any good resources about setting up effectively for EVM?
I am very keen to learn how to use EVM more effectively when setting up projects. I understand how the formulas work but struggle to transition them into real-world practice. I would really appreciate it if anyone could kindly point me in the direction of good blogs or resources that sheds some light on this topic. Thank you so much in advance. I really appreciate your assistance and suggestions.
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Geeta,

have you had a look at PMI's EV standard, it has more information and clarification than the PMBoK.
https://www.pmi.org/pmbok-guide-standards/...alue-management

Also slideshare is a good source for examples, e.g.
https://www.slideshare.net/oklapp/earned-value-54568944

I found it beneficial to keep it simple, you might want to extend the EV setup to portfolio of projects.

Thomas
...
2 replies by Geetha Ortac and Manuel Ancizu
Jun 26, 2021 1:06 AM
Geetha Ortac
...
Thank you so much Thomas. I really appreciate your suggestions and the advice to keep it simple.
Jul 02, 2021 2:02 PM
Manuel Ancizu
...
Good suggestion Thomas! and thanks so much for the link to Elizabeth Harrin.
I think the PMI´s standard on the matter is useful. Just to comment from my side take into account that you can use Earned Schedule Management instead of Earned Value Management, both are described inside the PMI standard. In my personal experience sometimes is difficult to have information about costs for each activity. Something that is key is which is the criteria you will use to consider an activity progress (0-100, 50-50, etc)
...
1 reply by Geetha Ortac
Jun 26, 2021 1:14 AM
Geetha Ortac
...
Hi Sergio, I found your suggestion about the criteria to consider activity progress very helpful. Thank you very much. It is great to hear from experts about how they approach various things in a project world.
Geetha -

As Sergio has indicated, PMI's Standard for EVM (https://www.pmi.org/pmbok-guide-standards/...lue-management) is a good place to start.

In terms of specific prerequisites:

1. Have an actuals reporting system for financials which is at the same level of detail as your planning system to simplify the process of comparing apples to apples.

2. Effective decomposition of scope. Doesn't mean it has to be to the lowest level of detail, but sufficient that EVM calculations will be representative of actual progress.

3. Sergio's point about progress reporting is critical - I've seen many PMs led astray by using EVM where progress reporting at the activity level was done in too conservative or too aggressive a manner.

Finally, remember that EVM is not a silver bullet and people can still find ways to "game" the system.

Kiron
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1 reply by Geetha Ortac
Jun 26, 2021 1:09 AM
Geetha Ortac
...
Hi Kiron, I really appreciate your response. Your points 1 to 3 are highly valuable. As suggested, I am going to look into the PMI EVM book. I am glad to know that it has more information than the PMBOK guide. Thank you very much.
Oh Wow, Thomas' link is quite comprehensive
Jun 25, 2021 5:40 AM
Replying to Thomas Walenta
...
Geeta,

have you had a look at PMI's EV standard, it has more information and clarification than the PMBoK.
https://www.pmi.org/pmbok-guide-standards/...alue-management

Also slideshare is a good source for examples, e.g.
https://www.slideshare.net/oklapp/earned-value-54568944

I found it beneficial to keep it simple, you might want to extend the EV setup to portfolio of projects.

Thomas
Thank you so much Thomas. I really appreciate your suggestions and the advice to keep it simple.
Jun 25, 2021 8:32 AM
Replying to Kiron Bondale
...
Geetha -

As Sergio has indicated, PMI's Standard for EVM (https://www.pmi.org/pmbok-guide-standards/...lue-management) is a good place to start.

In terms of specific prerequisites:

1. Have an actuals reporting system for financials which is at the same level of detail as your planning system to simplify the process of comparing apples to apples.

2. Effective decomposition of scope. Doesn't mean it has to be to the lowest level of detail, but sufficient that EVM calculations will be representative of actual progress.

3. Sergio's point about progress reporting is critical - I've seen many PMs led astray by using EVM where progress reporting at the activity level was done in too conservative or too aggressive a manner.

Finally, remember that EVM is not a silver bullet and people can still find ways to "game" the system.

Kiron
Hi Kiron, I really appreciate your response. Your points 1 to 3 are highly valuable. As suggested, I am going to look into the PMI EVM book. I am glad to know that it has more information than the PMBOK guide. Thank you very much.
Jun 25, 2021 6:05 AM
Replying to Sergio Luis Conte
...
I think the PMI´s standard on the matter is useful. Just to comment from my side take into account that you can use Earned Schedule Management instead of Earned Value Management, both are described inside the PMI standard. In my personal experience sometimes is difficult to have information about costs for each activity. Something that is key is which is the criteria you will use to consider an activity progress (0-100, 50-50, etc)
Hi Sergio, I found your suggestion about the criteria to consider activity progress very helpful. Thank you very much. It is great to hear from experts about how they approach various things in a project world.
...
1 reply by Sergio Luis Conte
Jun 26, 2021 6:39 AM
Sergio Luis Conte
...
You are welcome Geetha. My objective here is to learn from people posts so your feedback help me a lot. I always try to put on the table those things that have helped me in my daily work.
Jun 26, 2021 1:14 AM
Replying to Geetha Ortac
...
Hi Sergio, I found your suggestion about the criteria to consider activity progress very helpful. Thank you very much. It is great to hear from experts about how they approach various things in a project world.
You are welcome Geetha. My objective here is to learn from people posts so your feedback help me a lot. I always try to put on the table those things that have helped me in my daily work.
In addition to the comprehensive EVM standards published by PMI, I enjoy going through short but brilliant articles by Elizabeth Harrin (Author, Trainer, Speaker), who provides education and mentorship to project managers.
The pieces usually highlight 1 - 2 critical points of different project management topics.

Here is an example:
3 Levels of Project Work Authorization [Infographic]
https://www.projectmanagement.com/blog-pos...n--Infographic-

She is a blogger at https://www.girlsguidetopm.com/.
Her Twitter is @girlsguidetopm
She gives the latest insights into Project Management, including EVM.
Jun 25, 2021 5:40 AM
Replying to Thomas Walenta
...
Geeta,

have you had a look at PMI's EV standard, it has more information and clarification than the PMBoK.
https://www.pmi.org/pmbok-guide-standards/...alue-management

Also slideshare is a good source for examples, e.g.
https://www.slideshare.net/oklapp/earned-value-54568944

I found it beneficial to keep it simple, you might want to extend the EV setup to portfolio of projects.

Thomas
Good suggestion Thomas! and thanks so much for the link to Elizabeth Harrin.
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