Measuring progress for Earned Value One of the important premises of earned value management is that you have a defined way of measuring progress for each task. Some of the formulas need you to calculate how much of the work is done, either at project level or at task level. You can use percent complete: […]
How to Calculate TCPI: The Formulas Explained
How to Calculate TCPI How do you know if an estimate to complete a project is reasonable, based on how the team is performing today? Earned Value Management has a host of calculations available to you to help better understand project performance. In this article we are looking at TCPI which can answer that question. […]
7 Questions Earned Value Management (EVM) Can Answer
Have EVM questions? Are you considering using EVM (Earned Value Management) on your projects? Or wondering what it can do for you? Well, do you want to know the answer to any of these questions? Are we currently over or under budget? Are we delivering more or less work than we planned? How much is […]
The Value of EVM Education
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 […]