The Importance Of EVM And Project Management

843 Words 4 Pages
As project management has become a focal point of many businesses, the Earned Value Management why of planning a project has value in the real world. EVM tracks the progress of a project and gives a clear view point of the status of a project. Also EVM relates real time progress of a project; this is done by comparing your current project performance with the baseline data of the project. Basically its gives a forecast of a project from beginning to end and it allows the project manager to see where potential risk may come from that would hinder the project of if there may be any cost overruns. With such information it gives a clear picture of the project. However this may not be the complete solution to solve all the issue that arises with …show more content…
But out of 32 criteria’s only three were used in the Livermore Labs article, planned value, Earned value, and Actual cost. Out of these three practices how is it that EVM worked so well in the Livermore Labs, that fact is that Zenger didn’t just use EVM to complete her project, what I got out of each article was that both project management techniques were used along with EVM. The debunking article stats that EVM and Project Management work hand and hand with each other and it also gave an example of a WBS that is closely related to the project management process of defining a project. Also the Labs article gives the assumption that only large project can take advantage of the EVM tool, because in the article it give the assumption of project that reach over $20 million dollars by the US governmental agency EVM would prove to be successful. I think that since we are all are at some level of project management we must keep in mind that what ever task we may have its still a project no matter of the size. I think if we all look back at some of the experiences we can see how EVM could have or will help in given project. In our last discussion I spoke about how in my opinion a software firm failed in there cost estimation on a project that was being conducted with my

Related Documents