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
In a paper, define and elaborate on the concept of earned value management in a project setting.
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...
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