Your company has discovered that it must confront its chronic project cost problems head-on in order to operate profitably. As part of cost control measure, you will use the earned value management (EVM) technique to plan and track performance of the newest set of projects. Your company has determined that project managers must have a deep understanding of cost management.
•Discuss your understanding of EVM using concrete examples.
•How does EVM impact project quality?
•Describe how you would use EVM to determine whether a project is being completed within budget
It Quality Management
Length: 1 pages (275 Words)
IT Quality Management
IT comprises such items as the system software, application software, computer hardware, databases, and networks that relate to the management of an organization’s information. Effective integration of IT in an organization can set a standard of quality, which, in turn, may result in profitability. Project management methods like earned value management (EVM) can, correspondingly, be used to plan and track performance of the recent set of products. The above mentioned methods will measures the integration of technical performance, costs, and schedule against the expected performance within a project by combining measurements of management triangle; scope, schedule, and cost (Solanki, 2009). Some of the organizations using EVM are NASA and The Project Management Institute. This essay will discuss the concept of Earned Value Management and its benefits to project management.
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