For project managers, the ability to spot deviations from the plan before they spiral out of control is nothing short of a superpower. That's where earned value analysis comes in—a powerful method that delivers early warnings and actionable insights to keep projects on course. At the heart of this approach lies planned value, a cornerstone... [Read More]| ProjectEngineer
The earned value method is the project management standard for cost control during a project. Whether you are a practicing project manager or studying for the PMP exam, you need to know how to calculate earned value. Fortunately, it involves nothing more than basic high school math. The more difficult part is knowing what each... [Read More]| ProjectEngineer
In the operating room, an electrocardiogram (ECG) machine tirelessly tracks a patient’s heartbeat, offering surgeons a real-time glimpse into their health and alerting them to irregularities before they become crises. Similarly, in the high-stakes world of project management, the Cost Performance Index (CPI) within Earned Value Management (EVM) acts as a vital diagnostic tool, monitoring... [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. The Cost Performance Index, usually abbreviated as CPI, is one of the fundamental outputs of the Earned Value Management System. It tells the project manager how far ahead or behind the... [Read More]| ProjectEngineer
Like termites slowly gnawing through a sturdy foundation, scope creep is a menace that invisibly eats projects from the inside out, a stealthy parasite that burrows into projects, expanding their boundaries with unauthorized tasks until the damage surfaces in a cascade of delays, budget overruns, and frustration. Left unchecked, it doesn’t just nibble at the... [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
In project management, gut feelings and guesswork can only get you so far—eventually, you need cold, hard numbers to tell you if you’re winning or sinking. Earned Value is a method of calculating project status. It does this from two perspectives: Time (schedule) and Cost. After applying the earned value method the project manager will... [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 project management, getting an early indication of problems is the silver bullet that allows the project manager to correct problems before they start. That’s where schedule variance comes in—a critical metric that acts like a radar, spotting deviations from your timeline before they snowball into chaos. But the Schedule Variance doesn’t just tell you... [Read More]| ProjectEngineer
Like termites that build their invisible kingdoms secretly and slowly, projects have a similar parasite that grows under the surface until it suddenly exposes itself with disastrous consequences. It's called scope creep, and it has eaten many projects alive. Scope creep is the unauthorized addition of tasks into a project. If the project manager is... [Read More]| ProjectEngineer
If I asked you how far behind your project was, could you tell me in quantitative terms? Most people know the basic status of various tasks: "Well, that report was a week behind and Johnny should've finished his analysis by yesterday." But that's not good enough. Project management standards dictate that the project manager knows... [Read More]| ProjectEngineer
It's amazing how many projects do not know their true status until near the end, when there is little that can be done to ensure they finish on time or budget. The proper time to rigorously track project status is at the beginning, not at the end. This is when project risk can be managed and... [Read More]| ProjectEngineer
