Write a white paper on earned value management (EVM). Also, provide a concise historical survey of the evolution and use of EVM in project management. Please include references.© BrainMass Inc. brainmass.com March 4, 2021, 11:13 pm ad1c9bdddf
Write a white paper on earned value management (EVM). Also, provide a concise historical survey of the evolution and use of EVM in project management. Please include references.
The Earned Value Management is a project management technique that includes both cost performance and schedule performance. To achieve this physical progress is measures in terms of money to that schedule performance and cost performance can be analyzed at any time and compared. The earned value at any time can be compared to actual/planned costs to ascertain the performance of the project and to help forecast the future trend of performance. Whenever, work gets completed, project steps earn value (1).
In project management, this method has several advantages. There are early warnings received in case of troubled projects. It gets identified early if some of the project goals are not likely to be achieved, if there are going to be delays, or if budgetary overruns are likely. This enables the project managers to take corrective action, to arrange for additional resources if necessary, and set new objectives. The earned value management methods give the project managers more opportunity to get projects on schedule/budget/objectives (2).
The earned value management implementation ...
Earned value management is discussed very comprehensively in this explanation..