Friday, October 05, 2012

A Simplistic Model of Performing Earned Value Management (EVM) in a Project.

Most discussions on Earned Value Management (EVM) will tell us to compute planned values, PV(t), at the time of planning the project, and assess Earned Values, EV(t), as we make progress over time. This is a very easy and effective way of assessing how the project is performing with respect to time, i.e., schedule.

The problem, in many cases, is that Planned Value (PV) cannot realistically be computed at all. In a project that is expected to take about 18 months to complete, with an average of 25 engineers on the project throughout, and the number of engineers changing over time, we can only begin to compute the planned value as time progresses.