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Earned Value Management

April 5, 2018

 

 

 

 

 

 

The article “Earned Value Method as a Tool for Project Control”, by Czernigowska gives an introduction to the basic idea of earned value management (EVM), from the initial planning process, data analysis methods, baseline revision through to its execution. The aim of the article is to generate an appreciation for the concept by emphasizing how EVM’s measurements can be a valuable management method.  According to the author, the earned value concept enhances upon the regular comparison of budget versus the real cost that cannot be adequately accounted (Czernigowska 19). According to the author the concept of earned value refers to values given to a volume of work accomplished in a given period. Earned value management, therefore provides progressive information that can be contrasted to the initial planned budget and actual cost to give a clear insight into the state of the project for analysts.

 

According to the author EVM relies on simple rates that allow managers to determine current trends to determine final outcome of projects. Other than help project managers accomplish their project objectives successfully and cost effectively, EVM also enhances the cost performance analysis of a project (Czernigowska 26). Furthermore, the author also notes that EVM easily defines the scope of work required, thus improving the planning process.

 

I agree with the author that the EVM has become extremely important in terms of cost saving and successful implementation of projects. This is further evidenced with the fact that system has been widely adopted in numerous industries like construction and IT (Anbari 11). Numerous governments have approved its use and even introduced guidelines to regulate it use.

 

In conclusion, the EVM can be an effective tool in the IT industry in the planning phase, especially when it comes to identifying possible bottlenecks that may affect the business.

 

Works Cited

Czernigowska, A. "Earned value method as a tool for project control." Budownictwo i Architektura 3 (2015): 15-32.

Anbari, Frank T. The Earned Schedule. Newtown Square, Pa: Project Management Institute, 2016. Print.

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