Define the term earned value management in short, Project Management

Assignment Help:

Define the term Earned Value Management in short.

Earned Value Management (EVM):

Earned Value Management (EVM) is a project management system which combines schedule and cost performance to respond the important question, as “What did we acquire for our money spent?” Earned Value Management is a measurable performance system that gives quantitative data for project control and decision making, it is a systematic project management process utilized to know project variances or ‘exceptions’ through the comparison of worked performed as well as work planned. This is a measurable system for project scope, cost and scheduling into a single integrated system, which giving an early warning for performance difficulties.


Related Discussions:- Define the term earned value management in short

Business negotiation, Tony Taxpayer''s return case study. Question is to ap...

Tony Taxpayer''s return case study. Question is to apply general attribution theory to analyze and explain each parties attitude and conclusions.

Evaluating the design models, o Is the design understandable? o Is the desi...

o Is the design understandable? o Is the design of appropriate complexity for the task undertaken and the skill of the developer? o Is the design consistent? o Is the design mainta

Discussion Question, Your brother in-law is about to submit a scope stateme...

Your brother in-law is about to submit a scope statement to the town council for the July 4th parade and picnic he has volunteered to project manage. Your town has about 6,000 hous

Management skills required for a successful manager, How are the management...

How are the management skills required for a successful manager? Management Skills: The skills needed of a successful manager, while he is working into a industry,

Advantages of product layout - scientific materials handling, Advantages of...

Advantages of Product Layout - Scientific Materials Handling This layout facilities adoption of automatic handling devices. The channelization of  work flow  through  direct

Production tools, Improving the quality of manufactured parts and decre...

Improving the quality of manufactured parts and decreasing the production cycle time requires the use of high powered software programs integrated with computer controlle

Execution of the enterprise resource planning (erp) system, At the last boa...

At the last board meeting of X Company, the Finance Director showed concern for the lack of planning information obtainable to the company. It was accepted that the company needed

Factors affecting process design - degree of automation, Factors affecting ...

Factors affecting Process Design - Degree of Automation The degree of automation  to be  adopted and  integrated into the  production  system is a key issue in process design,

Project management value initiative, Project Management Value Initiative ...

Project Management Value Initiative The project management initiative program is a six step process which is designed to bring about a measurement team from the introduction to

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd