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 […]
EVM
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 […]
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 […]
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 […]
What To Expect From the EVMS Certification Process
Here’s What You Can Expect From The EVMS Certification Process So, you’re ready to get your Earned Value Management System certified? Fantastic! Whether you’ve already secured a contract that requires EVMS compliance, or you are just starting your journey of working on those kinds of programs, certification is the benchmark you need to achieve. An […]
3 Types of EVMS Reviews
If you are new to EVM, the culture of EVMS reviews might seem challenging and alien, but it doesn’t have to be. It’s all part of the governance model of using earned value management for project performance measurement and tracking. In this article, we’ll review (see what we did there?) three common types of EVMS […]
3 Limitations of Earned Value (EV) and How to Overcome Them
Earned Value Management (EVM) is a requirement for many government contracts, and specified by many clients looking to secure project teams to deliver their work. If you are taking your first steps into Earned Value (EV) to meet the demands of your clients, it’s worth understanding a little about the limitations of the system so […]