BUSI 3309 Chapter Notes - Chapter 13: 2 On, Earned Value Management
24 Aug 2015
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To understand and appreciate the significance of earned value. To be able to calculate and interpret different project performance indices*** To be able to develop a project reporting system that will ensure project control and progress (not for review) What are the key factors to be controlled: scope. What features are we going to offer: cost. How much should we invest for the project: time. Benefits of detailed and timely reports (slide 10) Metrics and performance measurments: earned value management, planned value, earned value, actual cost, variances, schedule variance (sv)=earned value(ev)-planned value(pv) (e. g. slide 22) If positive the project is on schedule or exceeding the schedule. If negative the project tis behind schedule: cost variance=ev-ac, schedule performance index, cost performance index. If the result is positive the project is experiencing an underrun . If the result is negative the project is experiencing an overrun e. g. slide 29.
