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Topic: Earned value management


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In the News (Wed 26 Jun 19)

  
  Earned Value Management
Earned Value Management is an integrated program management technique that integrates technical performance requirements, resource planning, with schedules, while taking risk into consideration.
The major objectives of applying earned value to a contract are to encourage contractors to use effective internal technical, cost and schedule management control systems, and to permit the customer to rely on timely data produced by those systems for better management insight.
There are two major objectives of an earned value system: to encourage contractors to use effective internal cost and schedule management control systems; and to permit the customer to be able to rely on timely data produced by those systems for determining product-oriented contract status.
www.valuebasedmanagement.net /methods_evm.html   (270 words)

  
 ColabWiki: Earned Value Management
EVM is a project (investment) management tool effectively integrating the investment scope of work with schedule and cost elements for optimum investment planning and control.
Earned Value Management is a project management technique that relates resource planning to schedules and to technical cost and schedule requirements.
An EVM is a set of business practices that, when applied to a project or program: • Integrate scope, schedule, and cost objectives, • Establish a baseline plan for accomplishment of project or program objectives, and • Employ earned value techniques for performance measurement during the execution of the project or program.
colab.cim3.net /cgi-bin/wiki.pl?Earned_Value_Management   (414 words)

  
 Earned value management - Pmpedia
EVM has the unique ability to combine measurements of technical performance (i.e., accomplishment of planned work), schedule performance (i.e., behind/ahead of schedule), and cost performance (i.e., under/over budget) within a single integrated methodology.
EVM emerged as a financial analysis specialty in United States government programs in the 1960’s, but it has since become a significant branch of project management.
Essential features of any EVM implementation include (1) a project plan that identifies work to be accomplished, (2) a valuation of planned work, called planned value (PV), and (3) pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work, called Earned Value (EV).
pmpedia.com /wiki/index.php?title=Earned_value_management   (220 words)

  
 Computerworld - Earned value management
EVM is based on several figures that are used in calculations to determine whether a project is adhering to schedule and budget.
Earned value calculations can be done at various points during a project, but the numbers tend to stabilize when you're about 20 percent through, says Quentin W. Fleming, co-author of Earned Value Project Management (Project Management Institute, 2006) and a management instructor at the University of California, Irvine.
Earned value management is based on several figures that are used to calculate a project's progress.
www.computerworld.com.au /index.php/id;13314357;relcomp;1   (2352 words)

  
 Earned Value Management - Overview
EVM technique answers a lot of questions to the stakeholders in a project related to the performance of the project.
EVM technique can be used to show past performance of the project, current performance of the project and predict the future performance of the project by use of statistical techniques.
In the late 1980s and early 1990s, EVM emerged as a project management methodology to be understood and used by managers and executives, not just EVM specialists.
www.tutorialspoint.com /earn_value_management/evm_overview.htm   (189 words)

  
  Delivering Earned Value Management for Government Agencies
An earned value management solution based on the Microsoft Office System gives federal agencies the ability to integrate cost, schedule, and technical performance data from multiple sources to meet EVM reporting requirements, reduce costs, and harness EVM information to better manage projects.
Successful project managers realize that the key to success is to minimize the impact of EV analysis so they can spend more time on their current projects.
EVM solutions built on the Microsoft Office System enable agencies to easily integrate schedule, cost, and performance data from multiple sources and subcontractors, which enhances the value of existing IT investments and simplifies EV data collection and reporting.
www.microsoft.com /office/showcase/earnedvalue/default.mspx   (462 words)

  
 Earned Value Project Management - Jul 98   (Site not responding. Last check: )
Earned value project management can be most helpful to any software project manager who has made a firm commitment to complete all the features within a definitive schedule and for a finite amount of funds.
After years of earned value being imposed on industry by the government as a unilateral mandate, private industry asked for and was allowed to have a say in the wording of the requirements being imposed on them.
Earned value, because it allows the project to accurately quantify the value of its work achieved, allows the project manager to also quantify the value of the work ahead to stay within the objectives set by management.
www.stsc.hill.af.mil /crosstalk/1998/07/value.asp   (3564 words)

  
 Benefits of using Earned Value Analysis
Earned Value Management is a methodology for determining cost and schedule performance of a project by comparing "planned" work with "accomplished" work in terms of the dollar value assigned to the work.
Comparison of this earned value with the planned value for a specific time period provides an indication of task progress- if more value is planned than is earned for a specified period, then the project is in danger of not meeting its required schedule, unless action is taken to recapture the unaccomplished work.
Similarly, comparison of the earned value for a task or group of tasks with the "actual" costs required to accomplish the same task(s) provides an indication of task cost performance- if actual costs are greater than planned costs for the accomplished task(s), then the project is experiencing a cost overrun situation.
www.baz.com /kjordan/swse625/htm/tp-py.htm   (4197 words)

  
 Earned Value Introduction
Earned Value focuses on the accurate measurement of work performance against the detailed project plan, to enable accurate prediction of the final cost and schedule, for the specific project.
Earned Value management is relatively simple to implement, provided the project manager ignores the peripheral mystique which has been built up around the concept.
Schedule Variance (difference between Earned Value less Planned Value) A negative earned value SV indicates that the project is falling behind in its scheduled work; a positive SV indicates that the project is ahead in its scheduled work.
www.businessperform.com /html/earned_value.html   (897 words)

  
 EARNED VALUE MANAGEMENT - GUIDANCE FOR THE ACQUISTION HANDBOOK   (Site not responding. Last check: )
Earned Value Management (EVM) is an integrated system of project management and control which enables a Contractor and their customer to monitor the progress of a project in terms of integrated cost, schedule and technical performance measures.
EVM may also be used to enhance cost Forecasting, risk management and as the basis for payment against the Contract.
Earned value is based on assigning a value at the activity level to the achievement of project work.
www.ams.mod.uk /ams/content/docs/evm2/evmacq2.htm   (3085 words)

  
 EVM Tutorial - EVM: Earned Value Management
Earned Value Management (EVM) is a program management technique that integrates technical performance requirements, resource planning, with schedules, while taking risk into consideration.
Earned value provides an objective measurement of how much work has been accomplished on a project.
As work is performed, it is "earned" on the same basis as it was planned, in dollars or other quantifiable units such as labor hours.
evm.nasa.gov /definition1a.html   (292 words)

  
 Track Earned Value
Earned value management, which is used to track earned value, is an integrated system of project management and control that enables a Contractor and their customer to monitor the progress of a project in terms of integrated cost, schedule, and technical performance measures.
EVM provides a third reference point that is an objective view of the status of the effort, i.e., the value to the end goal of the work completed to date..
Earned value project management involves planning work to a manageable level of detail such that it is feasible to allocate a portion of the budget to each planned work unit (work package), and then tracking progress by the accumulated “value” of completed work units.
www.goldpractices.com /practices/tev/index.php   (5218 words)

  
 Earned Value Management
The Earned Value (EV) can then be compared to actual costs and planned costs to determine project performance and predict future performance trends.
Earned Value has been used since the 1960’s by the Department of Defense as a central part of the C/SCSC (Cost/Schedule Control Systems Criteria).
Now, EVM is being used in a wider variety of government contracts, and is spreading through the private sector as a valuable tool for project managers.
www.earnedvaluemanagement.com   (173 words)

  
 earned value management (EVM), earned value analysis
Earned Value Management is a means by which projects can improve delivery performance through accurate cost and schedule performance information, thus increasing the focus on schedule and budget performance and goals.
Earned Value Project Management is at the heart of the project control systems applied by the governments of the UK, USA and Australia, to manage the performance of suppliers engaged on development contracts.
The objective is to establish a sound understanding of Earned Value Management among those responsible for project delivery, so that they may establish the work and organisational framework by which the project will be managed.
www.pmis.co.uk /earned_value_management.htm   (753 words)

  
 Earned Value Management, Primavera, Project and Portfolio Management   (Site not responding. Last check: )
Earned Value Project Management-Third Edition is intended to provide useful guidance to project management practitioners who are already familiar with EVPM, as well as those who are new to the use of this technique.
The earned value section of the Exhibit 300 is difficult to fill out because the information is often missing from a contract's baseline.
Managers have been slow to develop the ability to measure performance on many projects, but it is a skill worth cultivating.
www.primavera.com /industry/ps/earnedvalue.asp   (575 words)

  
 - Chapter 11.3.1. Earned Value Management (EVM)   (Site not responding. Last check: )
EVM is a key integrating process in the management and oversight of acquisition programs, to include information technology projects.
EVM should be implemented on applicable contracts wherein the following circumstances exist: (1) the prime contractor or one or more subcontractors is a non-U.S. source; (2) contract work is to be performed in government facilities, or (3) the contract is awarded to a specialized organization such as the Defense Advanced Research Projects Agency.
In addition, EVM should be implemented on applicable contracts designated as major capital acquisitions in accordance with Office of Management and Budget Circular A-11, Part 7, Planning, Budgeting, Acquisition, and Management of Capital Assets.
akss.dau.mil /dag/Guidebook/IG_c11.3.1.asp   (896 words)

  
 Earned Value Management - An xpdoffice EVM Software Solution
The goal of any project manager is to control the project - be sure it comes in on budget and avoid cost overruns.
Earned and actual hours are stored in xpdoffice allowing price and usage variances to be calculated.
Earned Value Management - You need it to better manage your projects, as well as to meet federal agency requirements for earned value reporting.
www.xpdoffice.com /earned-value-management   (430 words)

  
 Earned Value Management : Kuldeep's Weblog
But in place of an actual dollar value, it can also be a labor value (such as planned hours), or any other value that would provide a weight factor for the task.
The BCWS is the weighted value of the task at a specific point of time during its planned execution.
The SV (Schedule Variance) is the earned value minus the planned value.
blogs.sun.com /ks/entry/earned_value_management   (1206 words)

  
 Earned Value Analysis and Earned Value Management
Issued by APM, the Association for Project Management, the Earned Value Management Guideline describes on 65 pages a systematic and disciplined approach to project control that can be used to help improve your project management, and ultimately contribute to the success of your projects.
Earned Value is the amount of budget you can claim, representing completed work, the amount that is earned.
In the above example which was created using the project management software QEI Exec money will fall short in two dimensions: first because the actual costs are higher than budget cost of work scheduled, second because work performed is less than work scheduled.
www.noweco.com /swevae.htm   (395 words)

  
 Earned Value Management
There are “lucky” project managers whose projects were completed “on time” and “within budget.” But I am guessing they are in the minority.
The estimated value of the work planned to be done thus far.
This value is far from “1” and indicates the seriousness of the project’s inefficiency.
www.projectperfect.com.au /info_earned_value_management.php   (1893 words)

  
 Earned Value Management System (EVMS) Contract Clause - HUD
The purpose of an EVMS is to routinely capture standardized, detailed information on major IT investments to monitor their cost, schedule and performance over time.
An integrated team consisting of the contractor and government project manager will be responsible for managing EVMS data.
To facilitate the management of affected HUD IT contracts using an EVMS, an "Earned Value Analysis and Reporting" clause shall be included in all:
www.hud.gov /offices/cpo/evms.cfm   (293 words)

  
 Agile Journal - AgileEVM — Earned Value Management The Agile Way
It is the subject of in-depth study by the College of Performance Management and is included as a standard technique in the "Guide to the Project Management Body of Knowledge (PMBOK)" published periodically by the Project Management Institute[2].
Detractors have claimed EVM should not be used on Agile projects due partly to the belief that for EVM to be applied, the entire project scope must be planned in advance, and in detail using a Work Break Down structure.
She is co-originator of the AgileEVM materials and processes that integrate the traditional project management practice of Earned Value Management with the Scrum framework.
www.agilejournal.com /content/view/210/33   (2121 words)

  
 Earned Value Management
The Earned Value (EV) can then be compared to actual costs and planned costs to determine project performance and predict future performance trends.
Earned Value has been used since the 1960’s by the Department of Defense as a central part of the C/SCSC (Cost/Schedule Control Systems Criteria).
Now, EVM is being used in a wider variety of government contracts, and is spreading through the private sector as a valuable tool for project managers.
www.earnedvaluemanagement.com /index.htm   (173 words)

  
 Earned Value Management At Your Fingertips with ANSI 748 Compliance
Compliance with Earned Value Management (EVM) requirements is no longer limited to the Department of Defense (DOD).
This standard is often cited in procurement documents, statements of work, and government policy guidance when an organization seeks to require robust Earned Value management.
The Office of Management and Budget (OMB) requires an ANSI 748-A compliant EVMS to achieve and maintain a "green" level of performance.
www.xpdoffice.com /earned-value-management/ansi748.html   (430 words)

  
 PMThink! Project Management Thought Leadership
EVMS Earned Value Management: Federal Agencies Lag Behind: Via Primavera: Study Reveals Disconnect Between Perceived Merits of Earned Value Management and Federal Agencies Readiness to Implement...
EVM processes, systems, and software enable the continuous assessment of project performance and status - providing a methodology that can help agencies effectively measure project alignment with resources and goals by comparing status to original plans and end goals.
Widely used in commercial markets, earned value management is a standard way to measure a project's progress, forecast its completion date and final cost, and provide schedule and budget variances along the way.
www.pmthink.com /labels/earned-value.htm   (6389 words)

  
 PM
An updated version of the EVM Implementation Guide (EVMIG) that refers to the EVMS Intent Guide is available on the DCMA website under EVM System Surveillance, Risk Planning, Section 1.5.
The EVM guidance in the Defense Acquisition Guidebook was updated November 2005 and is available for use.
For a basic tutorial on EVM and its uses, go to http://acc.dau.mil, Special Interest Areas, Earned Value Management, Training Center.
www.acq.osd.mil /pm   (537 words)

  
 Earned Value Management (EVM)
Earned Value Management is an integrated program measurement and management technique that integrates
In other words, EVM is a management technique that relates resource planning to schedules and to technical cost and schedule requirements.
Using the EVM process, the management team can readily compare how much work has actually been completed against the amount of work planned to be accomplished.
www.12manage.com /methods_evm.html   (318 words)

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