Earned Value Analysis Project Management

Earned Value Management Analysis methodology is an analytical tool that uses data generated during project execution. Analysis of the collected data reveals the present state of the project. Further, analysis of the trends in the data can forecasts the future project performance. The collected data when compared to a baseline indicates variances in project performance. This also helps in initiating corrective actions. Read More

Earned Value Management Methodology

Earned Value Management (EVM) is an analytical tool that systematically integrates measurement of cost, schedule, and scope accomplishments on a project. EVM was developed in 1960’s by Department of Defence (DOD) to keep track of defence projects. It is a technique used to track project progress and report project’s current status, it is also used to forecast future performance. Read More

Wrong Cost Estimates Implications Solutions

During project execution most of us have dealt with the issue of wrong cost estimates. This issue becomes a serious concern especially when you are working on a fixed price contract, these contracts pose a great risk to project margin as the team must work with zero escalation of costs until the delivery of the project. Wrong cost estimates adversely affect project margin and surface only during later stages. Read More

PMP Certification Benefits

PMP is an abbreviation for Project Management Professional, it is a professional certification offered by a not-for-profit professional membership association for the project, program and portfolio profession called Project Management Institute (PMI) based at Pennsylvania, USA. According to the May 2017 edition of PMI Today, PMI has 286 chapters, is spread in 208 countries and has 484,524 members. Read More