EVM(ç°¡) - Earned Value...

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Unformatted text preview: Earned Value Management for Project Managers Xe$ * Friday, December 11, 2 12/11/09 EVM- * 2 The Punch Line " EVM is the best practice for project management ever! "-Japan PM survey team, 1999, Tokyo 12/11/09 EVM- * 3 The Punch Line " Without EVM, the F/A-18 project would have been a disaster! "-M. Sears, CEO, McDauglas, 1998 12/11/09 EVM- * 4 The New Way to Do Business EVM is a cultural change for project managers 12/11/09 EVM- * 5 In the Mists Given: total budget of $120,000 12 month effort produce 12 units Status: spent to date: $54,000 time elapsed: 6 months units produced: 4 complete, 1 partial How are you doing? How far along are you? Life without EVMS 12/11/09 EVM- * 6 Purpose of Earned Value: Effective Management Spend Plan Planned $10k/month Planned $60k to date Actual cost $54k Earned Value Earned $40k $6k favorable? 33% behind schedule 35% cost overrun Estimated total cost: $162k 12/11/09 EVM- * 7 EVM Provides Early Warning Course corrections are easier when you have time to make small adjustments Its too late when youre this close to the iceberg! Planning Planning is a 3-Step Process 2. Schedule the Work 1. Define the Work and Organize Teams $ Contract Budget Base Time P M b a s e l i n e MR 100 40 60 15 25 30 30 3. Budget and EV tech. Unit completed 0/100 0/100 0/100 50/50 50/50 50/50 12/11/09 EVM- * 10 Assigning Work WBS OBS Assignment of a single work element to a single team allows you to roll up the costs up either direction control account CA CA CA 12/11/09 EVM- * 11 Control Account Elements Work Packages Detailed, short-span tasks, or material items, required to accomplish the CA objectives, typically in the near term Task 1 Task 2 Task 4 Task 5 Task 3 Work Packages Planning Packages Planning Packages Future work that has not been detail planned as work packages. They are always scheduled to occur in the future. 12/11/09 EVM- * 12 BUDGET Labor 1,000 hrs Labor $75,000 Material $25,000 SCHEDULE TIER 1 TIER 2 Whats in a Control Account?Whats in a Control Account?...
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This note was uploaded on 12/10/2009 for the course -2 FSA taught by Professor Yehuda during the Spring '09 term at Cornell University (Engineering School).

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EVM(ç°¡) - Earned Value...

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