In project management, getting an early indication of problems can mean the difference between triumph and turmoil. The Schedule Performance Index (SPI) is a powerful little number that tells you, at a glance, whether you're on pace or off the rails, and by how much. But more than just a metric, it’s a reality check,... [Read More]| ProjectEngineer
In project management, getting an early indication of problems is the silver bullet that allows the project manager to correct the problems before they start. Cost Variance, usually abbreviated as CV, is one of the fundamental outputs of the Earned Value Management System. It tells the project manager how far ahead or behind the projects... [Read More]| ProjectEngineer
Hopefully your projects never have this type of variance! A variance is defined as a schedule, technical, or cost deviation from the project plan. Variances should be tracked and reported, as well as mitigated through corrective actions. There are two types of variance which normally receive most of the attention: Cost Variance Schedule Variance Calculating... [Read More]| ProjectEngineer
In project management, getting an early indication of cost escalation is the silver bullet that allows the project manager to correct the problems before they start. Keeping a firm grip on costs is essential to delivering success, yet budgets often spiral, deadlines slip, and stakeholders grow restless, leaving managers scrambling for answers. Whether you’re managing... [Read More]| ProjectEngineer
In the intricate symphony of project management, crafting a project schedule is the conductor’s baton—the single most critical tool for bringing harmony to chaos. For a project manager, it’s not just a task; it’s the cornerstone of their role, dictating how resources, timelines, and teams align to deliver success. A well-crafted schedule transforms abstract goals... [Read More]| ProjectEngineer
Project success is often distilled into simple metrics like meeting budget or schedule, a single pass/fail criteria measured at a single point in time. But these outcomes are rarely fixed targets. In fact, they are often in fail territory for long periods of time prior to entering pass territory for the critical moment. Indeed, there... [Read More]| ProjectEngineer
Want to unlock the secret to delivering projects on time and within budget? Earned Value Management (EVM) might just be your key. This powerful project control technique gives project managers a clear, data-driven snapshot of where a project stands—tracking both budget and schedule performance in real time. But more than that, it forecasts how those... [Read More]| ProjectEngineer
In project management, getting an early indication of problems is the silver bullet that allows the project manager to correct the problems before they start. Schedule Variance, usually abbreviated as SV, is one of the fundamental outputs of the Earned Value Management System. It tells the project manager how far ahead or behind the project... [Read More]| ProjectEngineer
If there's one most important skill for a project manager, it would be staying within budget and schedule. It is not an understatement to say that if you master this one thing, most other things will likely fall into place. And the magic ingredient to doing this well is called earned value management (EVM). EVM is... [Read More]| ProjectEngineer
The true power of the earned value method lies in its ability to sound the alarm before a project veers off track. In my days at a large engineering firm, I watched countless project managers stumble into a rude awakening at the end of the monthly billing cycle, only then realizing their project was lagging. ... [Read More]| ProjectEngineer
