The real benefit of the earned value method is in the early warning signal it provides. In my previous life at a large engineering company, I saw many project managers get to a monthly billing cycle before they realized the project was behind, and even then they would rationalize it by deciding their project team was going to be more efficient in the next cycle. Suffice … [Read more...]
Getting an early indicator of deviations from the project plan can be a game changer for project managers. This is precisely the main benefit of the earned value method, and its diligent application can do wonders for a project manager's career. Planned Value, usually abbreviated as PV, is one of the fundamental inputs of the Earned Value Management System. It is … [Read more...]
Earned value analysis is a project management method used to calculate the project status from two perspectives: Schedule. Is the project ahead of or behind schedule? Cost. Is the project over or under budget? Let's say you are the project manager for the renovation of 3 hotel rooms. The tasks are as follows: Preparation. Jan. 1 - Jan. 10, … [Read more...]
Getting an early indicator of deviations from the project plan can be a game changer for project managers. This is precisely the main benefit of the earned value method, and its diligent application can do wonders for a project manager's career. Planned Value, usually abbreviated as PV, is one of the fundamental inputs of the Earned Value Management System. … [Read more...]
