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(EVM-2606) How to Successfully Use Earned Value on Projects

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Level: Basic
Author(s): Joseph A. Lukas, PE CCP
Venue: 2017 AACE International Annual Meeting, Orlando, FL

Abstract: Earned value management (EVM) should be an effective technique for managing project performance. Unfortunately, for many project teams use of EVM becomes a time-consuming and frustrating experience with minimal value. This presentation explains the essential project planning steps needed to successfully utilize earned value on projects. It also briefly reviews earned value terminology, calculations, and key metrics to monitor when using earned value. The best techniques to determine progress for project work packages are also explained, along with how to use earned value to forecast project costs. The use of earned schedule (ES) is reviewed, and the way in which ES augments traditional EVM and integrated schedule analysis is explained. This presentation shows how to put your projects on the right track for successful use of earned value.