Earned Value Management Management Coursework Paper (Coursework Sample)
to Consider how to introduce EVM to a manager and to project team. How would you show the value of EVM as being the appropriate measure/metrics to use to monitor project progress?source..
Earned Value Management
I would introduce Earned Value Management to my manager and project team by establishing a Work Breakdown Structure (WBS) for every project. This approach will track the planned revenue, earned revenue, and actual effort (Mario 219). In addition, EVM will aid in determining planned revenue across the WBS, which can be achieved using an integrated project management and accounting system with the right combination of project-centric capabilities (Mario 220). To support EVM, the system captures project labour and expense pricing terms, and leverage them along with a project resource plan to calculate planned revenue (Mario 222). Once project execution begins, EVM tracks earned revenue and actual effort, as labour and expense charges are posted to the project WBS (Mario 22). Here, a project-based business system tracks these metrics in conjunction with timesheets, expense reports, and other project charges (Mario 220). This system will, therefore, make it easier for my project manager and team to track progress.
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