Discuss earned value management technique is often used

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Reference no: EM133491641

Case Study: This portfolio work project, an earned value management analysis, is based on your selected business or IT project. You may choose to base your assessment on the Revive LLC case study for the development of a new online employee orientation module, or you may continue to use a company of your choice. Both human resource (HR) and information technology (IT) employees, as well as contractors, will be utilized in this project.

Earned value (EV) is defined "the measure of work performed expressed in terms of the budget authorized for that work" (Project Management Institute, 2021, p. 275).

Project managers examine cost control, tools, and techniques that define the procedures by which the cost baseline may be changed. They engage in performance measurement to assess the magnitude of variations that occur during project execution. EVM is used to measure project performance by comparing certain predefined variables. Microsoft Project is a tool used to track planned cost versus actual cost, calculate the earned value, and forecast the effects of some cost changes.

Scenario

For this assessment, choose either Option A or Option B. You do not need to do both. Both options will be graded using the same scoring guide.

Option A: Project Revive LLC is a consulting firm of highly charged and accomplished project managers whose main stream of revenue comes from managing the turnaround of failing projects. As a consultant with Project Revive LLC you will study, analyze, and manage a failed project from NearlyFree.com. NearlyFree.com is a fictitious company and the project documents for NearlyFree.com project scenario are linked below. The NearlyFree.com project was originally scoped to develop and deploy an automated web-based training system for new employees to reduce the workload and cut down personnel resources required to complete the new employee orientation (NEO) training.

As a veteran member of the Project Revive team, you already know the value of continually examining performance throughout a project to further define and update project data. Special attention to documenting and identifying problems is required in time to make appropriate adjustments. The earned value management (EVM) technique is often used in this type of analysis. Continue your analysis of the failed project by applying the EVM technique to examine performance based on what was accomplished.

Reference no: EM133491641

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