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How to apply earned value management in project management?

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How can the project manager apply EVM (earned value management) to better manage his projects?

What are the benefits of apply EVM? And is EVM really worth it, even for small projects?
asked 7 years ago by anonymous

1 Answer

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Dear Anonymous,
The basic concept behind earned value is so simple, that you use it nearly every day in your personal life.  See an article I have published here which explains earned value very simply. http://www.pmforum.org/library/papers/2007/PDFs/Giammalvo-5-07.pdf

Somehow, between the US government and PMI, they have turned what is nothing more than fundamental applied common sense into a bureaucratic nightmare.

As a general contractor, I apply EVM principles on each and every one of our projects, whether for $20,000 or $200,000,000.  Why? Because as a CONTRACTOR, it ensures a healthy cash flow for work I have actually done and done correctly.  And as a contractor, the last thing I want to do is cheat any of my clients or customers.  Win-win for both sides.

Bottom line- to answer your question my best advice would be to follow Gary Humphrey's "Project Management Using Earned Value" https://humphreys-assoc.com/product_view.php?product_id=3 I believe this to be the best single book ever written on common sense applied project management.

BR,
Dr. PDG, Jakarta, Indonesia
http://www.build-project-management-competency.com
answered 7 years ago by anonymous

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