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Hello all, this week’s discussion we’re asked to briefly explain earned value management (EVM), what the measures tell the PM,

and what performance factors are beyond EVM. I like to say the book does a great job at explaining this to me, but I need a book like

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Hello all, this week’s discussion we’re asked to briefly explain earned value management (EVM), what the measures tell the PM,
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a PM for dummies for me to read in order to understand it. I did other readings and found a better explanation for me, APMG International

made this simpler.

· Schedule variance (SV): This is a measure of the difference between the work that was actually done against the amount of work that was planned to be done. This clearly shows is the project is on schedule or not. (1. APMG)

· Cost variance (CV): This is the measure of the difference between the amount that was budgeted for the work meant to be done and the amount that was actually spent for the work performed. Thus this shows if the project is on budget or not. (1. APMG)

· Schedule performance index (SPI): This is the ratio between the budget that is approved for the work that is performed to the budget that is approved for the work that was planned in the first place. This is a relative measure of the project’s time efficiency. (1. APMG)

According to the APMG EVM “provide more information than project tracking”, EVM’s answers the Where are we at this point in the project, When will this project be complete, and  What will the project cost. (1. APMG) The textbook does discuss what factors may hinder EVM’s such as weather, labor, and contractor delays. Among everything that a PM can experience that will delay a project, I don’t want, a tough job.

Christopher

 

 

Week 10 Discussion

You have now delivered the project to your customer. The project was delivered ahead of schedule, as requested by your project sponsor, but over budget by 20 percent. Now, it is time to reflect on what went well and what didn’t go well. Based on feedback throughout the course, what would you have done differently in terms of scope, resources, and schedule, and why?

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