Earned Value Management

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Option #1: Earned Value Management

Provide a minimum of a four-five page narrative that discusses the following concerning the earned value management (EVM) method:

  • Explain the EVM method and its capabilities, in less than half a page.
  • Identify a minimum of four metrics used in EVM that report actual project status, and identify the data needed to calculate each. Also, assess strategies in collecting relevant data.
  • Discuss a minimum of two metrics used in EVM that provide a forecast based on past results, and identify the data needed to calculate each. Appraise the capabilities of these metrics.
  • Provide an in-depth explanation on the limitations of the EVM method that identifies at least three drawbacks of this method.

Paper Requirements:

  • Format your entire paper in accordance with the APA Guidelines.
  • Be sure to properly organize your writing and include an introduction, headings/subheadings for the body of your work, discussion recommendations, and a conclusion.
  • Your paper should be a minimum of four pages long, not including the required title page and reference page. Nor does the page requirement include any supplemental pages, should you use them, such as appendices.
  • Include at least one of this week’s recommended readings and one outside reference (a peer-reviewed scholarly article published in the last five years, references not to include required or recommended reading assignments, or the textbook).

Readings

Required

  • Chapter 5 in Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance
  • Chapter Sections 1.4, 1.5, 1.6, & 7.4.2.1 in the PMBOK® Guide
  • Spitczok von Brisinski, N. (2014). Beyond earned value management: Do you assess a project’s team trust index? Project Management Institute. Retrieved from http://www.pmi.org/learning/library/earned-value-management-trust-index-8703

Recommended

  • Bergerud, C. (2015). Earned value management: Not just for government contracting anymore. Project Management Institute. Retrieved from http://www.pmi.org/learning/library/value-management-not-just-government-contract-9855
  • Marques, G., Gourc, D., & Lauras, M. (2011). Multi-criteria performance analysis for decision making in project management. International Journal of Project Management, 29(8), 1057-1069. Retrieved from
    http://www.sciencedirect.com/science/article/pii/S0263786310001419
 
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