Earned value management

Abstract

If your IT shop is not using earned value management (EVM), you may want to start thinking about it. When used properly, EVM helps team members, project managers and their bosses accurately gauge progress against an established project plan. EVM also enables teams to accurately assess where they will be in the future, allowing managers to make key decisions on resource allocation or revisions before projects unexpectedly spin out of control. Project managers and IT leaders need to accurately define a project's scope and requirements, develop specific work packages and work breakdown structures, and then establish a good budget. EVM can help improve your chances of project success. It is all about management, and it is all about control.