Project Health: Using Earned Value Management
How is your project doing? Can you see the likelihood of your project’s risks, cost overruns, or potential failure before they happen or you have no budget left? Do you lie awake at night worrying about the latest project or do you work in the knowledge that things are ticking along nicely?
There are numerous factors in managing projects. There’s actual costs versus budgets, or a project that’s ahead of schedule versus one that’s behind schedule.
Can any of these individually determine the health of your project?
No. Is there something you can implement to help manage your project’s health? Earned value management (EVM) can provide the answers to these many issues.
EVM is a methodology that has been in existence for some forty years, being used as a tool for measuring project performance. It’s crucial to be prepared for all eventualities, and using earned value provides us with the early warning signs to successfully monitor your project’s health. It also a single management control system that provides reliable data that enables you to see how your project is doing
