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Analyze Interactions Between EVM and Project Procurement

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Outline the relationship between earned value management and project procurement.
Examine labor versus procurement, actual costs, over and under stating costs, and steps to employing earned value.
Provide a minimum of three (3) examples of how EVM calculations could be effected by problem procurements.

My goal is to construct a 5 page minimum report myself.

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The response addresses the queries posted in 1602 words with references.

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The response addresses the queries posted in 1602 words with references.

// Earned Value Management is a technique for measuring the performance of the project in terms of cost, schedule, and scope. Project procurement is the process of acquiring goods and services for the project. In the following paragraphs, the association between EVM and project procurement has been discussed, which will depict their significance//.

Earned Value Management is a technique that is adopted to measure the performance of a project in a systematic way. It measures the performance by finding variances between the actual work and the planned work so that effective measures can be taken for further improvement. Three significant aspects of EVM include cost, schedule and scope for the overall implementation and effective work of this management. It controls the cost and schedule for the timely and efficiently completion of the project. It shows the quantitative data for the decision-making process for controlling all the activities related to the project (Warhoe, 2013).

Project procurement refers to acquiring goods and services for the project in a systematic manner through the analysis of the factor of cost related to goods and services, in order to maintain a high-level quality with a low-level cost, for the purpose of the efficient completion of the project. It is a systematic process of acquiring the necessary goods, services and other facilities in order to ensure high standards of management for controlling the project (Simm & Masters, 2003).

The process of project procurement is undertaken at the stage of cost planning and scheduling under EVM, because these two factors are greatly affected by the project procurement management. Cost is the key factor for the overall control of the project that forms a basis for project procurement because the minimization of the cost of needed goods and services is the main objective of project procurement. The controlling of the cost can only be performed with project procurement, and it is supportive to EVM for measuring performance of the project (Lee, 2004).

In case project procurement is not efficient to acquire goods and services at a reasonable cost, the performance of the project is gets degraded and EVM shows inefficiency in taking further remedial actions for successfully accomplishing the project management. The second interaction factor is the "schedule" because project procurement refers to obtaining the needed goods and services for the project. It affects the implementation of EVM while measuring the performance of the project through efficiently working for procuring the goods and services. The schedule of the project can be delayed by project procurement because its inefficiency to acquire the needed goods and ...

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