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Finally, be sure to respond to two of your peers' postings on their assessments of EVM. Did they mention anything that you had not considered? Is there anything you can offer that your peers had not considered?

Refer to the Discussion Rubric PDF for directions on completing this discussion.

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Jeffrey Rice

Hello everyone,

My name is Jeffrey Rice and I’m an IT major. Earned Value management is a method of monitoring and measuring the value of planned work and actual work performed. In general, EVM may provide value for all projects in forecasting actual project costs and understanding potential overruns; monitoring/controlling actual work performed and potentially correcting overruns; and identifying the accuracy of the baseline budget/cost estimates and schedules after potentially unknown variables become better defined.

The only critique that I have is that periodically measuring actual costs is often easier said than done depending on the circumstances; especially when considering ODC’s and how ODC’s where structured. In other words, how contract line items were allocated. The example in the textbook was for a production project which can be more straight forward than other project examples. For this reason, is why I think there are hesitations with wide spread use of EVM although I do believe you should always employ some degree of a method of understanding your actuals comparative to your baselines. Also contract types play a factor in how much or often EVM concepts are used. For example, fixed price or reimbursable vs labor hour contract etc.

Thanks, Jeff

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Aaron Holt

Hello everyone, my name is Aaron and I live in Northwestern Arkansas with my wife and three kids. I am getting a B.S.B.A with a concentration in project management. I was recently promoted to manager where I work, and I am very excited to put the knowledge that I have attained through SNHU to work.

Earned value management (EVM) in my own words is a way of measuring the performance of a project in terms of its value to the company. It involves analysis and other tools used by the

project manager to access the overall success of the project. EVM measures the projects actual performance against a baseline of what was estimated. This gives the project positive and negative indicators that can be used to calculate the project team's performance and that performances value to the sponsor. Using EVM can be a valuable tool in tracking what a company has made by entrusting their project to a project team and project manager. It also combines the project management triangle which is scope, time, and costs. EVM can also give an indication of future problems and access the costs to the project.

Fleming, Q., & Koppelman, J. (2016). Earned Value Project Management (4th ed.). Independent Publishers Group (Chicago Review Press). https://mbsdirect.vitalsource.com/books/9781935589419