Magazine article PM Network

Practice Standard for Earned Value Management

Magazine article PM Network

Practice Standard for Earned Value Management

Article excerpt

PROJECT MANAGEMENT INSTITUTE Practice Standard for Earned Value Management 2005, paperback, 48 pp., ISBN 1930699425, Member: $39.95, Nonmember $44.95.

Earned value management (EVM) often is referred to as "management with the lights on" because it helps objectively and succinctly identify how a project is running and where it is going. The methodology incorporates project scope, schedule and costs, and the process is applicable across many knowledge areas and project management process groups.

EVM can play a crucial role in answering management questions critical to the success of every project, such as:

* Is a project ahead of or behind schedule?

* How efficiently is the project team utilizing its time?

* When is the project likely to be completed?

* Is the project under or over budget?

* How efficiently is the project team using its resources?

To provide readers with a fundamental understanding of the principles of EVM and its role in facilitating effective project management, the Project Management Institute has published the Practice Standard for Earned Value Management.

Practice Standard for Earned Value Management expands on the EVM information included in PMI's A Guide to the Project Management Body of Knowledge (PMBOK® Guide)-Third Edition. To establish a basic foundation for understanding EVM's role in effective project management, the standard examines the relationship between EVM and the PMBOK® Guide's Process Groups and Knowledge Areas. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.