In his practice, the author has encountered project managers who, resistant to change and primarily concerned with successful delivery of their project, have resisted the adoption of Earned Value Management (EVM) practices. He explains the importance of EVM for cost control and demystifies EVM tools, with examples using Microsoft Project® and the open source tool, OpenPPM.
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Make sure those who are reporting progress on tasks know the rules or you won't get the accuracy that you expect.
Need some help digesting earned value management? An EVM project that is “broken” before its completion is easier to reconstruct and make useful...so open wide and get ready to chew.
CMMI provides several models that organizations can use to identify best practices and organizational improvements. Studying the maturity models and researching earned value management readiness reveals a series of baby steps for organizations to adopt EVM.
Are you ready for EVM? Our writer conducted a study on earned value management readiness based on 40 critical factors found in successful EVM implementations, and here we present the Top 10.
Earned Value Management can only help if you understand the limitations of the data you're using to calculate the numbers. Here we look at the specific planning and tracking requirements for EVM--and the aspects that a project manager has to consider in preparing and managing their project for it.
Earned Value Management is recognized within the project management domain as an effective cost and risk management technique. The formulas are not difficult to understand. So if EV isn’t difficult to calculate, why isn’t it more prevalent?
Earned Value Management is not just fuzzy math, but you need to help people understand it. The problem is not in the math itself, but in the difficulty of explaining EVM to stakeholders who don’t understand the numbers and what they mean. How do you sell EVM to your stakeholders without focusing on the math? Here we look at EVM for the masses.
Former British prime minister Benjamin Disraeli is credited as saying, “There are three kinds of lies: lies, damned lies and statistics.” To this we clearly might also arguably add a fourth: earned value. Here we explain its three deadly sins--those of omission, commission and deception.
How can Earned Value Management help you predict the future? Here we look at how EVM can help you forecast where your project will be at completion, as well as assisting in decisions around extra resources that may be required.