Earned Value Management is Like a Speedometer

			
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			              Earned Value Management > Best Practices > Earned Value Management is Like a Speedometer
			            
			              Earned Value Management is Like a Speedometer
Gim Olayinka Oni, Management Consultant, Nigeria, Member
Many projects are completed behind schedule and over budget because there are no proper monitoring and controlling steps taken.
If we consider a project as a "journey", the methodology as the "road", the resource as a "car", the project manager as the driver, then earned value management is like the "speedometer" of the car that consistently shows how the journey (project) is (really) progressing. (...) Read more? Sign up for free
			            
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			                  			Earned Value Management is like GPS Navigation Software

															Paul D Giammalvo, Professor and Consultant, Indonesia, Member
Hi Gim, I found your analogy to be interesting, but not completely accurate.

I would suggest that an even better analogy would be to compare Earned Value Management to using GPS navigation software in your automobile. It tells you where you are compared to where you are going; it tells you how long you have been traveling and it projects how much longer it will be before you get to where you want to go; and when combined with your fuel gauge, it tells you how efficiently you are using the fuel in your car and how much more fuel you will consume before arriving at your destination.

And, like your GPS, it can provide you with an indication that your project is "off track" against the plan.

Does that make sense to you?
			                  		
			                  			Completing the Thoughts ..

															Adriano A. Barbosa, Director, Brazil, Member
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			                  			Earned Value Management is NOT Complicated at All

															Paul D Giammalvo, Professor and Consultant, Indonesia, Member
(...)
			                  		
			                  			Adding my Thoughts

															Lucky Edjenekpo, Management Consultant, Nigeria, Member
(...)
			                  		
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	                            Earned Value Management
	                          
	                                Summary
	                                ForumEVM in Fixed Price Software Projects
When is an Asset over / under cost?
Adjusting the BCWS in Earned Value Methods X%/Y%
EVM Problem: Project Scope Change
EVM Baseline Cost When Moving a Task to Another Calendar Year
Project Management Finance

												              Best Practices
												            
		                          	What is Earned Value Management? Definition of EVM
EVM Implementation in Construction
Earned Value Management is Like a Speedometer