The mission of
ProjectBoard
Earned Value Management (EVM) is to provide
a primary value point for application
and use as an integrated project management
process within your organization.
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Often referred
to as “management with
the lights on”
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ProjectBoard
helps the project and portfolio
manager objectively and
succinctly identify where
a project or portfolio is
and where it is going. |
State of the art methodology (Stanford
APM, PMI and EVM) incorporates
strategy, project scope, schedule
and costs, and is applicable across
a broad range of knowledge areas
and practice groups.
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ProjectBoard
helps companies to identifies
and articulates the driving
business strategies of their
level of the project organization.
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This
assures that the project
organization understands
and is committed to the
business strategies that
pertain directly to them. |
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Strategies
drive prioritization criteria
to focus on your strategic
results. |
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ProjectBoard
helps companies to define
a criterion to represent
each of the identified business
strategies. |
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These
prioritization criteria establish
a tangible relationship between
the proposed work and the business
strategies of the organization.
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Assessing
proposed project work against
a set of prioritization criteria
eliminates the unhealthy competition
between projects that occurs when
projects are assessed one against
another. |
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Best
practices:
Business
strategies  lead
to
Business
Initiatives lead
to
Project
and non-Project work lead
to |
| Operational
results |
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Earned Value Management (EVM)
is a program management technique
that integrates technical performance
requirements, resource planning,
with schedules, while taking risk
into consideration. The major
objectives of applying earned
value is to use effective internal
technical, cost and schedule management
control systems.
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This data is in turn used for determining
project status, and projecting future
performance based on trends to date. In
addition, EVM allows better and more effective
management decision making to minimize
adverse impacts to the project.
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Chart:
Cost Variance |
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The value earned
for the work performed compared
with the actual cost
incurred for the work performed,
provides an objective measure
of cost efficiency. Any difference
is called a cost variance.
Earned Value - Actual Costs =
Cost Variance (CV)
A negative variance
means more money was spent for
the work accomplished than was
planned. Conversely, a positive
variance means less money was
spent for the work accomplished
than was planned to be spent.
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Your Success!
When all is said and done, there are only
four things that your organization does:
• Strategize
• Prioritize
• Implement (projects)
• Operate
Documentation:
