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IT Project Quality Management

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Lets say that your company has discovered that it must confront its chronic project cost problems head-on in order to operate profitably. As part of cost control measure, you will use the earned value management (EVM) technique to plan and track performance of the newest set of projects. Your company has determined that project managers must have a deep understanding of cost management.

Can you discuss your understanding of EVM using concrete examples.
How does EVM impact project quality?
Describe how you would use EVM to determine whether a project is being completed within budget
I also need APA References

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Can you discuss your understanding of EVM using concrete examples.
The basic principle of EVM is it evaluates a project objectively using controls to see if the project is on time and on target with costs. It is an integrated methodology that uses a template for estimating the costs and scheduling. The project has reporting controls in place and the EVM uses those controls to evaluate the project at specifically defined intervals. Labor costs and estimates, costs, materials and other resources are entered into the program/spreadsheet and analyzed based on the percent of completion.
For example, the project requires X dollars for labor and is scheduled for six months, evaluated at two-week intervals. At each two week interval, project costs are evaluated and scheduling is updated while completion rates are ...

Solution Summary

This solution provides a discussion on how EVM can help management in evaluating performance and success of a project throughout the project.

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