Earned Value Management (EVM) is the systematic integration and measurement of technical (scope), schedule, and cost accomplishments in a project or task. EVM provides both the public and private industries the ability to examine detailed schedule information, critical program data, technical milestones, and costs. The EVM System is an integrated set of documented processes, procedures, and applications that describe how the system owner is using EVM for managing projects. An EVMS Validation Review verifies that the EVMS processes and disciplines are being used by the project team as well as producing accurate and valid EVM performance data for informed management decisions
What are best practices and guidelines for EVM projects?
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The webinar will present the parameters of the ANSI/EIA Standard Earned Value Management System. This will include reasons to conform to the Standard and descriptions of the primary metrics and the 32 criteria. The requirements for a complete Implementation is a huge topic and cannot be covered in this short webinar, but there will be some information provided for further investigation.
This webinar will shed light on how the Logical Framework Approach can blend with Earned Value Management to provide progress reporting for development projects. The Logical Framework Matrix is a planning tool that is mostly used for development projects.
The objective of this presentation is to present the main components of the development of a project team, the motivational characteristics inherent to the team work and an interrelation proposal between the earned value analysis and team development through the SPI and CPI indexes obtained by the tool and team development models and the compensation and reward in the project, allowing to reduce the evaluation subjectiveness of the human resource in the project.
For those working within the field of earned value management, a perennial problem is recognizing that there is a difference between Budgets and Funds, and understanding the distinction between the two. Failure to grasp this essential characteristic of earned value management hampers systems and practitioners alike.
The concept of schedule monitoring and control as one of the most important functions of project management has not been fully exploited. That could stem from the dominance of Earned Value Management Systems which use cost indicators to measure schedule preformance. This can be misleading. In contrast to Earned Value and Earned Schedule, the authors have developed the Earned Duration Management (EDM) which uses certain indices to measure progress and performance of schedule and cost.
“Earned Value” (EV) has been around since the 1960’s as an effective Method for monitoring and managing project performance during implementation, and because of its ability to assess Time, Cost and Quality in an integrated manner, EV is undoubtedly significantly superior to antecedent approaches. EVM adoption and utilization was slow at first but following endorsement by the international Project Management Institute (PMI) as a “Best Practice” and inclusion in PMI’s Project Management Body of Knowledge “PMBOK,” demands to use EVM have escalated dramatically in recent years. Nevertheless many project managers and their stakeholders are still not using the Earned Value Method (EVM), and are reluctant to adopt it; or if using it are failing to obtain full benefit from EV analysis. Ken will explain the use of EVM in the Project performance Index (PPI) and in use of the TriColor Traffic Light System
When using an Earned Value Management System (EVMS), Management Reserve (MR) is both expected and considered a best practice. But the lack of understanding of MR and its use extends from government agencies to contractors. MR is an integral part of an EVM System. MR should be part of the original project estimate, but how much should you plan and how do you use MR to manage your project. This presentation discusses how MR is established (risk based) and subsequently used to keep a program on track. It also covers the common issues/misunderstandings and how to deal with them.
Statistic shows that around 2 out of 3 projects have difficulties meeting the three successful criteria: Delivered on time, with a final actual cost on or below budget, and in full compliance with the requirements. This webinar presents a new Integrated Project Management Approach to encourage organizations and project people to introduce changes in the way that projects are handled nowadays.
Starting with an explanation of what it means to be Agile, we'll then move through an overview of the specific Agile practice of Scrum, we will explore how working in a government contract environment is different from other forms of work and how, if at all, Agile practices can be applied. Some of these differences we'll discuss include documentation expectations, projects that are not restricted to software development, and Earned Value Management. We'll also review some of the developments in government agencies leaning towards agile practices, and reserve time for question.
The goal of this article is to encourage project managers to participate in an academic survey to help determine if an organization is ready to apply earned value management to its projects. If you are interested in learning more about EVM--and providing input into an assessment tool to help determine if an organization is ready to apply earned value--please read on!