Have you been asked to look into earned value management for your organization in advance of bidding for a government contract? You’re in the right place. In this article, you’ll learn what is earned value management and how you can use it for your projects. We’ve put together a US contractor’s guide covering earned value […]
earned value management
Earned Value Variance Analysis
Variance analysis is part of earned value management analysis and a way of gaining data for decision-making. A variance is simply a difference between what was planned and what actually happened. As you can imagine, very few projects deliver exactly to plan – have you ever worked on one where the original project schedule baseline […]
How to Handle RFP Earned Value Requirements
Handle RFP Earned Value Requirements You’ve found new work to bid for – congratulations! Then the paperwork comes through and you realize you have to prepare a response to the Request for Proposal (RFP) that talks all about your Earned Value Management System (EVMS). Your heart sinks. This is going to take ages. Is it […]
What is Schedule Variance?
You might hear your team talk about variances in the schedule, but what do they actually mean? And are you all defining Schedule Variance (SV) in the same way? Schedule Variance does have a very specific meaning in the world of earned value analysis, so it is worth making sure everyone has a clear understanding […]
A Guide to Level of Effort (LOE)
If you work in an environment with earned value management, you’ll probably have come across Level of Effort (LOE). And you might have seen the accompanying eye rolls as people tried to justify why it was important that their work is tracked with LOE and not in any other way. So what is it all […]
Earned Value Charts Explained (With Examples)
Earned Value Management (EVM) is a powerful advantage for project controls as it gives you both the historical picture and an insight into what the future might bring. One of the pieces of your earned value management system is the chart, and people sometimes get confused about what the graphs and charts show. That’s what […]
4 Fundamentals for Robust Project Plans
Create Robust Project Plans Earned Value Management is a contract requirement for many organizations working with government agencies and on large projects – even if your part in the project is actually quite small. Perhaps your firm is responsible for some electrical installation or providing a specialist service to the main contractor. You’ll still need […]
8 Questions Clients Ask and How to Use Earned Value to Answer Them
8 Questions Clients Ask and How to Use Earned Value to Answer Them Project stakeholders are a demanding bunch. They have normally got a lot of questions about project performance and they always seem to want to know something about how the work is going. They would, wouldn’t they? But what would you answer? Here […]
5 Tips for Keeping Your Schedule Updated
Tips for Keeping Your Schedule Updated Project scheduling is a critical part of being able to deliver your project on time and on budget. Setting up the schedule is only the beginning. Once you have your project timeline created in a tool that meets your clients needs, such as Primavera P6, then you have to […]
How Do You Respond to Corrective Action?
Have you recently undergone a project review and received a Corrective Action Request (CAR) or a Discrepancy Report (DR)? If so, your next step is to quickly respond to them in the most appropriate way, to let the client know you are taking the findings seriously and have a plan to address them so those […]