Chapter

Earned Value Management (EVM)

Earned Value Management (EVM) is a project management methodology used to track the progress of a project and evaluate its performance against its planned schedule and budget. EVM provides a structured approach to measuring project performance by comparing actual project results against planned project results.

EVM is based on three key metrics: Planned Value (PV), Actual Cost (AC), and Earned Value (EV). Planned Value represents the total value of the work that was planned to be completed up to a specific point in time, while Actual Cost represents the actual cost of completing that work. Earned Value represents the value of the work that has been completed up to that point.

By comparing these three metrics, EVM provides a comprehensive picture of a project’s progress and performance. For example, if the Earned Value is less than the Planned Value, it indicates that the project is behind schedule, while if the Actual Cost is greater than the Earned Value, it indicates that the project is over budget.

EVM can also be used to forecast project performance by using the data from the three key metrics to project the estimated final cost and completion date.

EVM is a widely used project management methodology in the construction, engineering, and information technology industries. It provides a structured approach to project management, allowing project managers to identify potential issues early on and take corrective action to keep the project on track.

EVM is a valuable tool for project managers, providing a comprehensive view of project performance and allowing them to make informed decisions based on accurate data. By implementing EVM, organizations can improve their project management processes and increase the likelihood of project success.

The “Earned Value Management” category is a comprehensive collection of articles, documents, and resources designed to provide CIOs, IT executives, and other technology leaders with an in-depth understanding of Earned Value Management (EVM) principles, methodologies, and best practices. As a crucial aspect of project management, EVM is indispensable for effectively measuring project performance and progress, ensuring optimal resource allocation, and delivering projects on time and within budget.

This category contains resources ranging from introductory guides to advanced topics, covering the essentials of EVM, key performance indicators, and techniques to monitor and control project performance. The materials in this category are curated from reputable sources and written by industry experts. This process ensures you receive accurate and reliable information on EVM and its applications in the IT sector.

By exploring the “Earned Value Management” category, IT executives can gain valuable insights to enhance their decision-making processes, improve project success rates, and drive innovation in their organizations. Whether you are a seasoned CIO or an aspiring IT leader, this collection of EVM resources is an essential addition to your professional library.

Cost Estimating Guide

This cost estimating guide provides a framework, based upon best practices, that can be modified to develop, evaluate and manager IT investments’ cost estimates.

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