EVM Education Earned Value Management isn’t just about choosing the right tools or setting up your schedule properly (although trust us, those things definitely help). It’s an ongoing process. You can have tools and plans in place, but without a continual effort to sustain the culture and use of what you have, sometimes even the […]
The History of Earned Value Management
Earned value has been around for a long time, so how did this valuable way of tracking project performance evolve? In this article we’ll look at the earned value history story and why the tool is still relevant today. The early days The concept of tracking what you said you would do against what you […]
Earned Value Management Certification Explained
Earned Value Management certification comes in two flavors: individual and organizational. Project managers can get certified through a range of professional bodies and training providers offering accredited courses. But even with all your team credentialed, your organization still may not meet the standards required for EVMS contract-level certification. In this article, we’ll be looking at […]
Introducing the Practice Standard for Earned Value Management
The Practice Standard for Earned Value Management from PMI is now in its second edition and has quickly become a much-referred to (and searched for) guide to how to use earned value in a project context. It’s a standard, so it doesn’t mandate how you have to do anything. Instead, it describes common practice, established […]
Earned Value Management Terminology Basics – Financial
There is a lot of confusion about some of the terminology surrounding the process of Earned Value Management (EVM). This can be particularly confusing for those who are new the discipline of Earned Value Management. There are various monetary terms that, while probably somewhat familiar to you, will not always make immediate sense when used […]
The Main Components of an Earned Value Management System
Earned Value Management System Compnoents People sometimes talk about ‘earned value management systems’ as if they are a specific thing you can buy at the store – a tool that comes in a neat box that you simply plug in and it works straight away. That’s not exactly how it works. Your EVMS is made […]
3 Challenges for Making EVM Work
Making EVM Work Earned Value Management is a tried-and-tested way to measure project performance. It’s robust, data-driven and highly respected as an approach for understanding how the work is going. However, as with all approaches, there are some things you should be aware of before you start using it. All systems have their limitations, and […]
What is CPI – Cost Performance Index?
Cost Performance Index (CPI) is an important figure to calculate and understand if your organization is using earned value management methods. But what exactly is it? This is your complete guide to CPI in project management, and we’ll start with making sure we’re clear on what the term means. Here’s a definition of CPI: CPI […]
Single Point Adjustment – Replanning Made Easier with Deltek Cobra
One of the most challenging areas of work in a certified EVMS (Earned Value Management System) is the process for managing major replanning events. Known as a Single Point Adjustment or SPA, EVM professionals find these very complex, time consuming and often nerve-wracking. They must be planned very carefully and thought out in detail, lest […]
3 Success Factors for EVM Implementations
Success Factors for EVM Implementations The U.S. Government Accountability Office is the agency that provides guidance to government bodies around how to work efficiently and increase the return on investment from tax payers’ money. They also create standards that are useful reference guides for project teams, and their guidance on earned value is essential reading […]