“So, how is your project going?” This is a question project managers are frequently asked by the project sponsor, customer and other stakeholders. One technique used by project managers to explain progress is to plot the plan spend curve and the actual cost expenditure curve as shown in the diagram below. The curve looks good, but what can we tell about the health of this project based on this graph? Is our project team accomplishing the planned work and doing it for less money? Or is the team behind schedule? The point is this curve does not provide sufficient information to properly communicate how the project is going.
To provide the essential information about project progress we need to apply Earned Value Management (EVM). Current performance is the best indicator of future performance, and, therefore a useful … Read More »