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.
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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.
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.
When evaluating the acquisition of a company, many organizations emphasize the financial aspects but downplay facets of the consolidation dealing with project execution. This paper examines the major considerations and discusses how to improve the integration process to avoid negative impact.
Make sure those who are reporting progress on tasks know the rules or you won't get the accuracy that you expect.
Large swings in global financial markets have become a regular occurrence; some of the strongest economies have turned volatile, and political instability is a growing concern in many countries. This article discusses how project managers can address estimating pitfalls. It overviews today's changing business environment and how it is taking a toll on the project estimating process. The construction of a high-speed rail network in California, USA, whose cost soared to twice as much as previously estimated, is provided as an example. In addition, the article lists four tips for project managers who manage estimates throughout the project life cycle. A case study focusing on the project estimates to fix a key dam in Iraq accompanies the article.
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.
Product and feature delays can adversely affect adoption for IT projects and revenue for commercial products. Cost of delay (CoD) is a way to explain and calculate those costs. Here’s how one agile program manager used CoD to explain risks.