What is Earned Value Management?
EVM is much more than just percentage complete. To fully understand the current status and health of a project, this PMI-favored technique offers more than a dozen formulas, each giving a microscopic view of one aspect of the project. Taken together, they provide the full spectrum of how your project is performing on metrics: Time, Cost and Scope (a.k.a., “The triple constraint”).
Five Ways My book “The PM Answer Book“ helps with Earned Value
- I devote 22 pages to Earned Value in my Cost Management chapter.
- I walk through every EVM formula, using one easy-to-follow example of a project everyone can relate to: building a website with 4 web-pages.
- In addition to a detailed explanation of how each calculation is done, I also provide a box showing: “What this answer tells the PM” — this is valuable for the SCENARIO-BASED questions on the test (where it’s important to understand the purpose of each formula, not just the math)
- I provide a proven method I’ve come up with for memorizing the formulas:
- I break the 6 key EVM formulas into 3 logical pairs, and
- I also break the 6 key inputs to the formulas into 3 logical pairs
5. I provide a Fill-In-The-Blanks grid as a “Work Sheet” to help readers study and memorize the formulas (for your “Brain Dump” for the test)
You might also like to see: