Earned Value Management is Like a Speedometer




Earned Value Management
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Gim Olayinka Oni
Management Consultant, Nigeria

Earned Value Management is Like a Speedometer

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.
 

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Paul D Giammalvo
Professor and Consultant, Indonesia
 

Earned Value Management is like GPS Navigation Software

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?

 
1
Adriano A. Barbosa
Director, Brazil
 

Completing the Thoughts ..

Hi Paul and Gim! Your analogies are very interesting, the comparison with cars can help build initia... Sign up

 
1
Paul D Giammalvo
Professor and Consultant, Indonesia
 

Earned Value Management is NOT Complicated at All

Adriano and Gim, if you go here Practical Look at How Private Sector Entrepreneurial Contractors Use... Sign up

 
1
Lucky Edjenekpo
Management Consultant, Nigeria
 

Adding my Thoughts

I agree with Dr. PDG. EVM is not as complicated as it is thought to be by practitioners, surprisingl... Sign up

   

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EVM in Fixed Price Software Projects
When is an Asset over / under cost?
👀Earned Value Management is Like a Speedometer
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EVM Problem: Project Scope Change
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