Project sponsor is not familiar with earned value management

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Reference no: EM132467414

Your Project Sponsor is not familiar with earned value management (EVM). You have been asked to provide him with a quick overview of EVM. Using the information covered in the readings, suggest the top three (3) EVM performance measures you would educate your Project Sponsor on. Also, identify other performance factors beyond EVM that you would communicate to your sponsor. Provide a rationale for your selection of topics.

Respond to this: EVM is a technique that's used in controlling the cost to include the time of a project. The reason why a project is key to the failure or the success rate of the project. The guidelines define the requirements and form an umbrella for those guidelines that management systems of contractors should meet for any project to be successful. EVM performance measures the schedules variance SV which does measure the time performance of the projects. Another is an earned schedule allowing measurements of the performance index and lastly the planned duration representing a period that undertakes the project. The top three would be most important are; 1. Time 2. Cost 3. Scope Time: important in project implementation which can help start to generate revenue. Cost: reveals the capital outlay of startup investments in a project. Scope: it essentially tells the nature and size of the project helping for the implementation.

Reference no: EM132467414

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