The article is devoted to the underlying mathematical concepts of earned value: linear function, Cartesian coordinates and tangent. The EV visualization named “budget square” is derived from these concepts—and helps us master the earned value concept for both certification and practical needs.
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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.
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.
When agile practices are implemented for the first time in a waterfall environment, more predictive techniques like earned value management (EVM) will need to be integrated. Here, a practitioner looks at two sprint examples to explain how this approach works.
In this article, schedule variance is modeled to show the comparison and relationship of actual project progress and the schedule baseline. The underlying linear model of the schedule performance index (SPI) is explained and visualized with the budget square chart. The limits of the linear SPI approach are shown, and then an improved non-linear visualization is explored.
The best part about Project Cost Management is that there are only three processes. And while the first two processes are light dumbbell lifting, the third throws some heavy barbell exercises your way. Are you prepared?
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.
The author presents an approach for using a rate to monitor projects, based on the re-evaluation of two key concepts, work total, and the rate per unit of work. By periodically recalculating and updating rate values, considering the comparison of the actual work vs. the planned work, the project manager may develop reliable databases for use in future evaluations and follow-up projects.
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.