Earned value management is an important and valuable project management technique in that it requires objective evaluation of project performance and can accurately predict a project’s future performance, absent appropriate corrective action. At its most basic, an earned value management system (EVMS) improves project performance by:
- Requiring adequate and appropriate planning, and the recognition and management of project change, documented in the form of a performance measurement baseline
- Requiring the establishment of objective criteria at the work activity level and the periodic statusing of actual performance against that criteria.
- Providing quantitative metrics, on whatever performance period desired, regarding actual cost and schedule performance against the baseline as established.
- Providing actionable detailed information regarding variances at the working level in an attempt to facilitate appropriate corrective action and to assure performance against the stated cost and schedule objectives.
At its most advanced, an EVMS is a disciplined, systematic approach to managing projects consistent with the 32 detailed guidelines included in ANSI Standard EIA-748-A – “Earned Value Management Systems”. Compliance with this Standard is normally only required of Federal Government-funded/-sponsored programs and projects and significant performance improvements can be attained through a graded implementation of EVMS principles.
PM tec has significant experience and proprietary tools that can facilitate your graded implementation of an EVMS. We can assist you with system design and deployment, process and procedure development and documentation, staff training, and system evaluation and surveillance. If required, we can assist in your preparations for and provide support during a formal Federal Government certification assessment of your EVMS against the ANSI guidelines. We have extensive experience with all aspects of Federal Governmentcertified EVMS implementations across the US Department of Energy complex, including: Los Alamos, Lawrence Livermore, Lawrence Berkeley, Brookhaven and Fermi National Laboratories; the National Renewable Energy Laboratory; the Stanford Linear Accelerator Complex; and the Nevada Test Site. We also have a deep background in graded applications of EVMS principles on commercial and government projects ranging from $25K to over $1 billion.
To discuss a graded implementation of an EVMS, or an evaluation of your EVMS as currently deployed, please contact Jeffrey Fillmore at 480-558-3028 or 800-897-9023 or via our contact form here!