Earned value management

Earned value management

In a paper, define and elaborate on the concept of earned value management in a project setting. Identify benefits to this model as going above and beyond the concepts of budgetary projections. Be sure to explain the sensitivity and perishability of the EVM calculation as well as how EVM should be explained along with your financial and cost reports to ensure a clear picture of the project status in time.

3+ pages; 3-4 references; APA format

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Earned Value Management

            Earned value management is an important concept in management of projects. The concept uses different units to analyze the amount that is spent on a project, the completed work, the planned work and the time used. It is done through the quantification of the tasks of the project, assessment of the work that is done, recording of the money spent on the completion of the work and assessment of the actual work done. It is important to control the failure or success of a project through measuring how the performance of the project is as it progress enabling the identification early signals of a project failure. With earned value management it is easy to control the cost and time of the project performance. The method dates back to the 1960’s where the defense department of America used it to measure how different projects performed (Batselier & Vanhoucke, 2015).  ………..

WORD COUNT:976 WORDS

FORMAT:APA