Earned value project management

Abstract

Factors to be considered in the implementation of an earned value project management are described. First, management and owner must commit to using earned value metrics to monitor the cost and schedule performance of their projects. Second, some method must be used to define all project work in order to both understand the requirements and to set the project's outer limits. Third, all work defined within the WBS must be planned and then logically sequenced into a specific time frame for performance. Fourth, resources will need to be estimated and budgeted for all defined scope. Fifth, the summation of all authorized CAPS will need to form a project performance baseline. The last necessary step is for the project to monitor performance against the unauthorized baseline for the duration of the project.