Earned Value Management is Like a Speedometer

Earned Value Management
Knowledge Center

 

Next Topic

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
 

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

    Log in

 
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
(...)
 

 
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
(...)
 

         
Special Interest Group Leader

Interested? Sign up for free.


Earned Value Management
Summary
Forum
Best Practices


Earned Value Management
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2019 12manage - The Executive Fast Track. V15.2 - Last updated: 15-12-2019. All names of their owners.