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.

Sign up for 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

Are you an expert in this field? Sign up for free


Earned Value Management
Summary
Forum
Earned Value Management (EVM) in Agile Projects
Project Portfolio Scorecard in EVM
🔥Tips to Improve the Productivity in your Project
Best Practices
🥇What is Earned Value Management? Definition of EVM
🥈EVM Implementation in Construction
🥉EVM in Fixed Price Software Projects
When is an Asset over / under cost?
Earned Value Management is Like a Speedometer
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


Earned Value Management
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.5 - Last updated: 4-8-2020. All names of their owners.