EARNED VALUE MANAGEMENT.CASE STUDY USING MICROSOFT PROJECT

A formalism and a corresponding notation for earned value analysis are presented. With compact, consistent, mnemonic notation, earned value calculations become more transparent and flexible, leading to insights about standard quantities and advances through new measures. As an example of the notation’s utility, it is used to generate a modified earned value approach that weights quantities according to their position in a project’s timeline.earned value, managing projects, progress, cost, cash flow management

Dynamic scheduling: integrating schedule risk analysis with earned value management

The topic of this paper is dynamic project scheduling to illustrate that project scheduling is a dynamic process that involves a continuous stream of changes and is a never ending process to support decisions that need to be made along the life of the project. The focus of this paper lies on three crucial dimensions of dynamic scheduling which can be briefly outlined along the following lines: (i) Baseline scheduling to construct a timetable that provides a start and end date for each project activity, taking activity relations, resource constraints and other project characteristics into account, and aiming to reach a certain scheduling objective, (ii) risk analysis to analyze the strengths and weaknesses of your project schedule in order to obtain information about the schedule sensitivity and the possible changes that undoubtedly occur during project progress and (iii) project control to measure the (time and cost) performance of a project during its progress and use the information obtained during the scheduling and risk analysis steps to monitor and update the project and to take corrective actions in case of problems. The focus of the current paper is on the importance and crucial role of the baseline scheduling component for the two other components, and the integration of the schedule risk and project control component in order to support a better corrective action decision making when the project is in trouble

Gestión de la programación ganada como complemento a la gestión del valor ganado

Earned Value Management is a well-known technique within project management, which allows to control and forecast the project based on your budget and its degree of execution. However, the behavior of this tool has a more significant significance from 20% of the project's progress. Many of their indicators are calculated in terms of cost and have been shown to perform poorly in the final stages of the project, showing a correct behavior when the project is delayed. Earned Schedule Management is an "evolution" of Earned Value Management that solves this deficiency.La Gestión del Valor Ganado es una técnica ampliamente conocida dentro de la gestión de proyectos, que permite controlar y pronosticar el proyecto a partir de su presupuesto y su grado de ejecución. Sin embargo, el comportamiento de esta herramienta tiene una significancia más considerable a partir del 20% de avance del proyecto. Muchos de sus indicadores se calculan en términos de coste y se ha demostrado que se desempeñan mal en las etapas finales del proyecto, mostrando un comportamiento correcto, cuando el proyecto está retrasado. La Gestión de la Programación Ganada es una “evolución” de la Gestión del Valor Ganado que solventa esta deficiencia

Earned Value Management (EVM) Implementation Handbook

The purpose of this handbook is to provide Earned Value Management (EVM) guidance for the effective application, implementation, and utilization of EVM on NASA programs, projects, major contracts and subcontracts in a consolidated reference document. EVM is a project management process that effectively integrates a project?s scope of work with schedule and cost elements for optimum project planning and control. The goal is to achieve timely and accurate quantification of progress that will facilitate management by exception and enable early visibility into the nature and the magnitude of technical problems as well as the intended course and success of corrective actions

Earned Value Management (EVM) System Description

The purpose of this Earned Value Management (EVM) System Description is to provide guidance in NASAs Earned Value Management Capability for the effective application, implementation, and utilization of EVM on NASA programs, projects, major contracts and subcontracts. EVM is a project management process that effectively integrates a projects scope of work with schedule and cost elements for optimum project planning and control. The goal is to achieve timely and accurate quantification of progress that will facilitate management by exception and enable early visibility into the nature and the magnitude of technical problems as well as the intended course and success of corrective actions. This system description contains detailed information on implementation of EVM processes, procedures, roles and responsibilities

A Comparison of Earned Value Management and Earned Schedule as Schedule Predictors on DoD ACAT I Programs

Earned Schedule, since it was introduced by Walt Lipke in 2003, has been studied extensively in a variety of different fields and on programs of all sizes. However, Earned Schedule\u27s viability as an extension of Earned Value Management (EVM) in Major Defense Acquisition Programs (MDAP) has yet to be effectively answered. The first aspect of this research explores the breadth of Earned Schedule\u27s adoption by the System Program Offices (SPO) of the United States Air Force. The second phase of this research explores whether Earned Schedule is a more accurate and timely schedule predictor than the EVM technique currently employed by the United States Department of Defense (DoD). A series of five descriptive statistical tests were conducted on the Earned Value data for 64 Acquisition Category (ACAT) I MDAP\u27s. This research finds Earned Schedule to be a more timely and accurate predictor than Earned Value Management

Rethinking Integrated Program Management in Incremental Acquisitions – Third-Party EVMS Compliance Assessment Study

Excerpt from the Proceedings of the Nineteenth Annual Acquisition Research SymposiumThe Department of Defense is mandating and implementing acquisition practices grounded in Agile methods to include DevSecOps. This approach allows for the incremental implementation of a system instead of fully specifying the performance. Managing complex systems requires an integrated approach that balances the technical, cost, and schedule with the end-user need. A program management team can use various tools to plan, track progress, forecast, and replan to keep the project moving forward. Earned Value Management is one of the many tools that support the program manager. It defines a disciplined set of steps for integrated planning and technical, cost, and schedule analyses. When Agile methods are implemented correctly, they meet earned value management’s intent and give the program manager a continuous planning and execution process to communicate project health and status transparently in real-time. One of the aspects of earned value management is that a contractor must have an Earned Value Management System (EVMS) that meets all the requirements of EIA- STD-748D, “Earned Value Management Systems (EVMS)” (n.d.). This paper discusses an approach for an independent Third Party to assess a contractor’s compliance with this standard.Approved for public release; distribution is unlimited

Rethinking Integrated Program Management in Incremental Acquisitions – Third-Party EVMS Compliance Assessment Study

Excerpt from the Proceedings of the Nineteenth Annual Acquisition Research SymposiumThe Department of Defense is mandating and implementing acquisition practices grounded in Agile methods to include DevSecOps. This approach allows for the incremental implementation of a system instead of fully specifying the performance. Managing complex systems requires an integrated approach that balances the technical, cost, and schedule with the end-user need. A program management team can use various tools to plan, track progress, forecast, and replan to keep the project moving forward. Earned Value Management is one of the many tools that support the program manager. It defines a disciplined set of steps for integrated planning and technical, cost, and schedule analyses. When Agile methods are implemented correctly, they meet earned value management’s intent and give the program manager a continuous planning and execution process to communicate project health and status transparently in real-time. One of the aspects of earned value management is that a contractor must have an Earned Value Management System (EVMS) that meets all the requirements of EIA- STD-748D, “Earned Value Management Systems (EVMS)” (n.d.). This paper discusses an approach for an independent Third Party to assess a contractor’s compliance with this standard.Approved for public release; distribution is unlimited