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EVM as a central tool to project management

Provide an assessment of the relative importance of controlling project cost. EVM is the central tool of project management in project cost control. Show the importance of cost control using anecdotes taken either from credible sources.

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It is extremely important for any project manager to keep project cost under control for the overall success of the project as actual cost incurred on the project should be as close as possible to the planned cost to ensure that project is completed as per desired scope, schedule and cost. If actual costs exceed the planned budget, it can affect the smooth completion of project as resource constraints can occur due to shortage of finances. The project sponsor will also be unsatisfied due to such cost overruns. The ultimate objective of the project may not be achieved if project is ...

Solution Summary

Provide an assessment of the relative importance of controlling project cost. EVM is the central tool of project management in project cost control. Show the importance of cost control using anecdotes taken either from credible sources.

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