LEOPARD PROJECT CONTROLS
Earned Value Management
Certified PMP, with over 11 years of experience in Oil & Gas and Construction projects. Expert in Primavera P6, MS Project, Asana, and Zoho Projects scheduling. Authored different Project Management, Scheduling and Planning articles.
Practical implementation of Earned Value Management – pros and cons
Earned Value Management (EVM) is one of the most effective available project management approaches which incorporates all levels of management and provides an early forecast of the project. It has offered a system that can manage effective performance by identifying trends, forecasting problems, and seeing their solutions. Most importantly it provides visibility into whether or not the project is on track to be completed within the budget and on time as per the baseline project schedule. It does so by taking project basic information like planned progress, actual progress, actual cost, budgeted cost, planned value, and earned value. These values [...]
Earned Value Management in Primavera P6
Earned Value Management compares project current actuals against project baseline schedule values. The best way to measure the project's true performance status is by comparing actuals to date to the approved baseline. A project KPIs can be measured from cost or labor units/hours. A project’s progress can be well justified if cost is also considered accordingly. If we say the project has achieved 60% of actual progress against 40% of planned progress, this may look very nice. But, if the same project has already spent 80% of the total cost for 60% of progress, then we may not be [...]
