Earned Value Management Challenges

Earned value management system is a robust methodology to integrate schedule, scope, and cost baselines of a project. EVM is an analytical tool that also uses variances to track schedule and cost performance of a project. It further uses efficiency indicators to forecast project health. Though EVM analysis offers numerous benefits, implementing this technique offers some challenges. The following paragraphs enumerates important earned value management challenges. Read More

Variance Analysis Project Management

Monitoring and Controlling of project work requires constant review of planned vs actual data of project work. Earned Value (EVM) project management technique offers mathematical equations for arriving at schedule and cost variance but there are many organizations that do not use earned value management techniques for project monitoring and controlling. Whether a project deploys evm techniques or not, it is necessary that the present performance of the project is compared against Read More

MS Project Summary Task Is Not WBS

Summary task as the name signifies are project activities used for structuring the project schedule. Summary tasks are not assigned any predecessor and successor and are also not assigned any duration or resources. MS Project automatically calculates the duration, start, finish dates and the cost associated with the summary task based on the information of the associated sub task. In order to create a summary task in MSP, all you need to do is to indent a task just below it. Read More

Earned Value Management System

EVM as Earned Value Management is popularly known, is a technique used to track the progress and report current status of a project, it is also used to forecast the future performance of the project. 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. Read More