There are several steps involved in doing so and the order of which is of great importance. EVM is easy to read however it is not as simple to set up EVM allows this to be done as it can be understood reasonably easily and the metrics can be visualised within a simple graph. In doing so, you are able to predict the future performance of the project as well as take timely action to avoid any risk associated with potential schedule or cost overruns.Īs you will know, with any project it is extremely important that its status is easily communicated to the client, or sponsor. Tip: Read our article Earned Value Analysis – an explanation that finally makes sense if the topic is new to you. Whether you are a project manager, a construction planner or are new to working within projects, EVM can be a great help to you as it is a very useful tool for tracking your project’s performance.ĮVM (Earned Value Management) allows the planned progress of your project to be tracked and compared to your actual progress, taking into account both your schedule and costs. Regardless of the industry you happen to be working in, if you are planning or managing projects using Microsoft Project then knowing how to use Earned Value Management (EVM) will be extremely useful to you.
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