Back to basics - Earned Value Management for beginners

Earned value management is a project control process based on a structured approach to planning, cost collection and performance measurement.

Earned value helps us manage a project by:

• providing data to enable objective measurement of project status;
• providing a basis for estimating final cost;
• predicting when the project will be complete;
• supporting the effective management of resources;
• providing a means of managing and controlling change.

Earned value provides information which enables effective decision making by knowing:

• what has been achieved of the plan;
• what it has cost to achieve the planned work;
• if the work achieved is costing more or less than was planned;
• if the project is ahead of or behind the planned schedule.

Good planning leads to good project execution and good management information.

This webinar provided an introduction to the basic concepts of earned value management (EVM). The recording is available here:

 

The presentation slides are available below: