Earned Value curve (Planned Value, Costs and Earned Value) helps you see at any time if a delay will cost more than what we have in the budget. This delay may be in non-critical tasks in the best or worst, be in the critical path (GANTT). These situations can be avoided by good management which includes risk assessment. Place the activities that have to be done if an unforeseen event happens. With this definition, one can use Monte Carlo methods to tell the probability of success and how much time and money it will finally cost. In addition one may add the estimation uncertainty for critical activities. What will be the impact on the estimate to complete the project? All this, should be done before starting the project. During the execution of the project simulations can be used constantly. Define an early warning system which indicates critical situations early enough to take actions.
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Earned Value curve (Planned, Cost and Value Earned Value) helps to see at any time if a delay will cost more than what we have in the budget.
The analysis of the earned value curve (Planned Value, Cost and Earned Value) helps you at any time to assess whether a delay will cause a high probability of costs that exceed the original budget. At best, this delay is on the non-critical path (GANTT), or on the critical path with correspondingly high costs
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.
Previous attempts to link EVM and RM have been rather theoretical. This presentation offers practical guidelines, showing how to use risk information to improve the earned value baseline and future predictions, and demonstrating how earned value can be used to improve risk process effectiveness. EVM and RM practitioners will discover how to work together to create real benefit for their projects and organisations, using the combined strengths of these two powerful approaches.
First Presentation: Earned Value: A simple Technique for Project Perfomance Measurement. Second Presentation: Tell me if you finished, not how much you have progressed -- Managing a project with Critical Chain
The presentation is built around a project for a typical gas transmission system. The presentation explains the planning, control and execution of this project in its three parts: Gas Pipeline, Two Compressor plans and a Control System. The presentation shows EVM application during the different phases of the projects. All information contained in this presentation was adapted to make it simple and understandable for a non-engineers audience. A typical EVM application in the Venezuelan oil industry will be shown. To explain the implementation the project, the presentation will explain the design of engineering portions and the related EVM. Also, how EVM is calculated and managed in usual real life situations like delays in equipment delivery, materials and how it affects construction progress. Likewise, how EVM is use in Contract Management and Program Management
The Federal Office of Management and Budget (OMB) 25 Point IT Management Reform Plan requires agencies utilize an iterative, or Agile, project management methodology and that all projects should result in working business functionality in 6 months or less. However, the OMB also requires the development of a performance measurement baseline and that cost, schedule, and technical performance metrics are tracked. This informative webinar will review the OMB requirements as well as how to plan Government Agile projects and implement EVM.