25 Jan Earned value management
To manage a project in general and costs in particular, a project manager needs to use advanced metrics, such as earned value management (EVM).
Write analysis on the new marketing mailing earned value analysis template provided
The introduction is the best opportunity to convince your audience that you have something worthwhile to say (one solid paragraph). An introduction can accomplish this by fulfilling five important responsibilities, as follows:
1. Get the audience’s attention.
2. Introduce the topic.
3. Explain its relevance to the audience.
4. State a thesis or purpose.
5. Outline the main points.
Earned Value Analysis
Scenario
Jennifer and Ben turned in their status report for the newly approved mailing activities. Jennifer feels that they are on track with nothing for you to worry about. She reports the following information for the critical path tasks:
You review her status report and determine that Jennifer does not have a solid grasp of the project status. Ben was unable to provide you with anything more than, “Things are moving along just fine.” Conduct an Earned Value Analysis based on the following Template.
Project Metrics
Variances
Cost Variance (CV)
Complete the following tasks:
1. Discuss the CV metric, and include the equation, and what the acronyms stand for.
2. Using the information below, use the formula to calculate the CV.
Earned Value (EV) = $580 Actual Costs (AC) is $600
CV =
3. Based on the CV that you calculated, explain the importance of the CV for the new marketing mailing scenario.
4. What happens when the EV is less than the AC?
Schedule Variance (SV)
Complete the following tasks:
1. Discuss the SV metric, including the equation, and what the acronyms stand for.
2. Using the information below, use the formula to calculate the SV.
Earned Value (EV) = $850 Planned Value = $1200
SV =
3. Based on the SV that you calculated, explain the importance of the SV for the marketing mailing scenario.
4. What happens when the EV is less than the PV?
Performance Indices
Cost Performance Index (CPI)
1. Discuss the CPI, including the equation, and what the acronyms stand for.
2. Using the information below, use the formula to calculate the CPI.
Earned Value (EV) = $580 Actual Costs (AC) is $600
CPI =
3. What does the CPI calculation mean?
A CPI value of __________ indicates for every project dollar spent, only __________ in earned value.
4. How could the Albany Distribution Company increase the CPI?
Schedule Performance Index (SPI)
Complete the following tasks:
1. Analyze the SPI, including the equation, and what the acronyms stand for.
2. Using the information below, use the formula to calculate the SPI.
Earned Value (EV) = $850 Planned Value (PV) = $1200
SPI =
3. What does the SPI calculation mean?
A SPI value of __________ indicates for every dollar of work the project planned to accomplish at that point in time, $__________ worth of work was completed.
4. How could the Albany Distribution Company increase the SPI?
Earned Value Management (EVM) Methodology
Complete the following tasks:
1. Explain the EVM methodology.
2. Define two project metrics required to calculate earned value analysis (EVA).
3. How would you calculate the EVA?
4. What are the limitations of EVM?
Conclusion
The conclusion is the last thing that the reader will remember about your essay.
1. The conclusion should be a summary of the highlights of your statement of purpose.
2. The conclusion should include the main points of the statement of purpose.
3. The conclusion should be as well-constructed and grammatically correct as everything.
If you included the topics from Units 1–4 in your introduction, you must mention those in your conclusion.
