Earned Value Management Case Study

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2.3. EARNED VALUE MANAGEMENT:
EVM control the projects, yet dependent on a project’s effective plans. About EVM we know collectively from these research works. Firstly EVM contributes to project planning then secondly EVM contributes to project control and EVM contribution to project management processes, all these processes are believed to positively influence project performance. This is a EVM contribution to project success.
The concept of earned value has been around for over a hundred years. Depending on the time period, it changed various names, including industrial factory standards, earned value management, performance measurement, the Planned Value of Work Accomplished (PVWA), the Budgeted Costs of Work Performed (BCWP), the Cost/ …show more content…

It analyzed the experience, the main problems, prospect and main driving factors of EVM in the development process [32]. Improved EV method for schedule and cost integration management [33]. Based on plan and cost difference of EV, established a simple but more comprehensive measure and a principal-agent model [34]. Uses time units to measure the performance progress of the project, proposes a time-based EV technique, and gives formula estimating completion time of different states …show more content…

“Good judgment is the result of experience,” he said. “The way to become a good project manager is by having bad experiences and learning from them.”
A review of literature uncovered three categories of knowledge regarding the contribution of earned value management success. Ample literature offers rational support for EVM’s positive contribution [48], [50]. Works of this type suggest the benefit of EVM across major project management processes including planning, executing, monitoring, and controlling (PMBOK, 2004).
Another source of knowledge is from the experiential accounts of project practitioners [49]. These works are important in that, unlike theory, they offer empirical evidence based on personal experience and observations.
A third source of knowledge about EVM’s contribution to project success blends both theory and experience [48]. These works offer the highest level of precision in both their methodology and findings and can be said to offer scientific knowledge. Works in this category are research-oriented, and to date rely on qualitative method to make relevant

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