Option #1: Earned Value Management

Provide a minimum of a four-five page narrative that discusses the following concerning the earned value management (EVM) method:

• Explain the EVM method and its capabilities, in less than half a page.
• Identify a minimum of four metrics used in EVM that report actual project status, and identify the data needed to calculate each. Also, assess strategies in collecting relevant data.
• Discuss a minimum of two metrics used in EVM that provide a forecast based on past results, and identify the data needed to calculate each. Appraise the capabilities of these metrics.
• Provide an in-depth explanation on the limitations of the EVM method that identifies at least three drawbacks of this method.

Paper Requirements:

• Format your entire paper in accordance with the APA Guidelines.
• Be sure to properly organize your writing and include an introduction, headings/subheadings for the body of your work, discussion recommendations, and a conclusion.
• Your paper should be a minimum of four pages long, not including the required title page and reference page. Nor does the page requirement include any supplemental pages, should you use them, such as appendices.
• Include at least one of this week’s recommended readings and one outside reference (a peer-reviewed scholarly article published in the last five years, references not to include required or recommended reading assignments, or the textbook).

Readings

Required

• Chapter 5 in Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance
• Chapter Sections 1.4, 1.5, 1.6, & 7.4.2.1 in the PMBOK® Guide
• Spitczok von Brisinski, N. (2014). Beyond earned value management: Do you assess a project’s team trust index? Project Management Institute. Retrieved from http://www.pmi.org/learning/library/earned-value-management-trust-index-8703

Recommended

• Bergerud, C. (2015). Earned value management: Not just for government contracting anymore. Project Management Institute. Retrieved from http://www.pmi.org/learning/library/value-management-not-just-government-contract-9855
• Marques, G., Gourc, D., & Lauras, M. (2011). Multi-criteria performance analysis for decision making in project management. International Journal of Project Management, 29(8), 1057-1069. Retrieved from
  http://www.sciencedirect.com/science/article/pii/S0263786310001419

 

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 Description Earned Value Management System ◾Discuss how an earned value analysis will be utilized for this project or Key Assignment, including the formulas to compute earned value analysis (EVA). ◾Cover the following 4 scenarios and what you should do: ◾Behind schedule and over budget: Include a sample calculation that would trigger this interpretation, along with a graph. ◾Ahead of schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. ◾Behind schedule and on budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. ◾Ahead of schedule and under budget: Include a sample calculation that would trigger this interpretation, along with a sample graph. ◾Discuss for each of the above situations how you compute the final cost and end date if nothing changes with its present state. ◦Overall Cost and Schedule Performance ◾Discuss how you will monitor progress. ◾Discuss what metrics, reports, and graphs you will use to monitor progress. ◾Discuss how they would determine the cause of the variation. ◾Discuss how you will respond to deviations; (specifically around schedule compression and a contingency budget). See additional files add vendor criteria see template and add request for proposal see template