Project managers are faced with tough decisions on a daily basis. Some of these choices can make or break the success of a project.
But what drives your decisions? How do you measure the core elements of the project?
Without a proper system in place, project managers are forced to make gut decisions that don’t always align with the data. While this may work sometimes, it’s not a sustainable framework for the long-term, and it can be extremely costly.
If you’re looking for a better way to keep your project on track, earned value management might be the solution for you. This guide will explain everything you need to know about earned value management so you can implement this framework into any existing or future projects.
What is Earned Value Management?
Earned value management (EVM) is a structured approach to measure cost, scope, and schedule at a task or project level. With EVM, project managers gain data-driven insights to objectively understand what’s happening with the project.
It’s a deeper way of simply looking at a project schedule and budget. EVM allows managers to understand the actual work and progress that’s being accomplished. Earned value management ultimately helps project managers estimate the total cost and completion dates of a project with greater accuracy.
3 Tools to Improve Earned Value Management
To have the best possible experience with earned value management, you should be using software to you… Read More