Projects aren’t delivered in isolation; they combine to collectively contribute to business goals and they impact on one another during execution. Project managers must be involved earlier in the process when it comes to implementing strategy—and they must also be involved more broadly.
In the near future, earned value management will help meet Drucker's Challenge — that is, by measuring the true productivity of knowledge workers. This EVM renaissance will emphasize real-time and lead measures over current lagging measures, and EVM-based graphics will gradually displace Gantt charts and other common display methods.
Earned value management is a technique that integrates scope, cost and time to highlight how the project has done in the past and predict how it is expected to do in the future. This article discusses a few basic concepts of EVM and is useful for anyone looking to get started on this topic, as well as for candidates preparing for certification.
The whole point of Earned Value Management is to use past project performance measurements to depict the current standings and predict future efforts and resources required to complete the project goals. If you think in pictures, this illustrated formula will aid in your pursuit of certification or provide a refreshing perspective for veteran practitioners.
Earned value management (EVM) is the control tool used for cost control, which is one of the most important areas in project management. It also provides additional useful information for the schedule variance. When used with progress reporting to determine schedule variance and schedule performance index, EVM becomes a highly valuable tool to track both cost and schedule. Budgets for projects with only department-wide budget allocations are analogous to a household electricity bill, having few details.
The use of traditional empirical project management tools can be used in a simple way to manage and control project deadlines and costs without losing the flexibility of agility. In this article, we are going to mix a traditional technique with agile management using a simple practical example.
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!
The author presents a practical approach for the application of earned value focused on better project scope definition and project plan creation, both based on results. Project progress is credited only if deliverables are completed or milestones are achieved, increasing the objectivity of project performance measurement and probability of success.
This article highlights why project financial assessment is so prone to errors during project monitoring, and illustrates a better practice for applying earned value to analyze and report project schedule and cost data quickly and accurately.
Building trust on a team is one of the greatest challenges faced by project managers. This article explains how project managers can earn trust with project team members. In doing so, it identifies characteristics and behaviors essential for creating trust with team members. In addition, it lists four requirements for building trust.
"Nearly every great advance in science arises from a crisis in the old theory, through an endeavor to find a way out of the difficulties created. We must examine old ideas, old theories, although they belong to the past, for this is the only way to understand the importance of the new ones and the extent of their validity."