tailieunhanh - EARNED VALUE PROJECT MANAGEMENT METHOD AND EXTENSIONS

Approximately 80% of a Project Manager’s time is spent communicating. Think about it – as a Project Manager you are spending most of your time measuring and reporting on the performance of the project, composing and reading emails, conducting meetings, writing the project plan, meeting with team members, overseeing work being performed, meeting with clients over lunch and many more activities related to your projects. You should give considerable thought to how you want to manage communications on this project. By having a solid communications management approach you’ll find that many project management problems can be avoided | EARNED VALUE PROJECT MANAGEMENT METHOD AND EXTENSIONS Frank T Anbari Project Management Journal Dec 2003 34 4 ABI INFORM Complete pg. 12 Earned Value Project Management Method and Extensions FRANK T. ANBARI PhD PMP Project Management Program Department of Management Science School of Business and Public Management The George Washington University 2115 G Street NW Washington DC 20052 USA Introduction ABSTRACT The earned value project management method integrates three critical elements of project management scope management cost management and time management. It requires the periodic monitoring of actual expenditures and physical scope accomplishments and allows calculation of cost and schedule variances alongwith performance indices. It allows forecasting of project cost and schedule at completion and highlights the possible need for corrective action. This paper shows the major aspects of the earned value method and presents graphical tools for assessing project performance trends. It provides logical extensions and useful simplifications to enhance the effective application of this important method in project management. Keywords earned value method EVM earned value management system EVMS cost variance cv schedule variance SV cost performance index CPI schedule performance index SPI critical ratio CR cost estimate at completion EAC time estimate at completion TEAC 2003 by the Project Management Institute Vol. 34 No. 4 12-23 ISSN 8756-9728 03 The earned value project management method is a powerful tool that supports the management of project scope time and cost. It allows the calculation of cost and schedule variances and performance indices and forecasts of project cost and schedule at completion. It provides early indications of expected project results based on project performance and highlights the possible need for corrective action. As such it allows the project manager and project team to adjust project strategy and to make trade-offs based on project .

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