By using Earned Value Management even on simple projects, you are empowered with some control because a method of measurement has been used. This is one of the many advantages of using EVM in project management.
Earned Value Management (EVM) is not an essential tool for completion of your project, however, it will enhance your ability to provide a concise snapshot of progress and cost to your team and stakeholders. Advantages in Project Management can be gained by using project integration techniques.
Project planning begins with laying out answers to certain questions such as why, what, who, how, and when. When you have specific answers to these broad questions, your project will have a great start!
One way to define a Work Breakdown Structure (WBS) is through planned outcomes. Planned outcomes are always a challenge for project managers. The planned outcomes must describe to the project team, stakeholders, customers and end-users the hierarchical nature of the work to be performed.
Earned Value Management (EVM) techniques are an essential part of delivering a project on time and on budget. It is a key building block to a well run project. EVM should not be a time-wasting task, but it can easily become one if your analysis is not up to date.
Earned Value Management compares actual performance to planned performances; however, it does have limitations. Determine in advance how you plan to use this tool to advance your project and relay information so you are not wasting essential time over analyzing the chart.
Do you know how to implement Earned Value Management tracking? If correctly implemented, it can enhance payment processes and fulfill contractual project requirements by ensuring conformance to specifications defined within the scope of the project.
One of the benefits of a well written scope statement is the opportunity to call out the project requirements prior to the commencement of the project. In your Scope Statement, focus mainly on the requirements or milestones that will bring the project to a satisfactory completion.
Time management software is great, but what is the best selection for interacting with Project Management? Let’s take a look at the best software out there for Project Managers to track their staff’s time.
Gantt Charts, Outlook Calendars, Task Lists, Blackberry’s, PDA’s; all of these enable the Project Manager to utilize time to the fullest. You can easily find the one most effective for you or the right combination that sets you apart from every other project manager.
It is important to remember that you are not limited to computer task lists. Before computers were an integral part of the office environment, we have managed to keep a trackable task list with just a paper and pen. A hand-written to do list is simple, efficient, and effective.
Being able to job cost is essential to project management. If you don’t know where you are losing money, you won’t be able to fix it the next time around. Job costing is an accounting practice whereby costs are accumulated by job.
Just like tracking individual time is essential, if you can group your staff in categories framed by the time spent on your project and their position and abilities, you can increase your effectiveness.
If you are a Project Manager, you probably got to that position because you have a propensity for lists. Whether it be task lists, or tracking your time on paper, the ability to not only write a list but make it work for you is a powerful tool.
You need to meet with the architect, your assistant called in sick, and your project plans have been accepted. Juggling all these eggs can be a messy job if one of them drops, so you need to take advantage of the time-saving tools at your disposal.
With so much software already loaded on today’s business computers, how can a Project Manager develop a time tracking plan for his employees? Look at the resources available already and begin by building on that.
We have all known someone that loves to micromanage a project. One unaccounted-for minute and he is on your tail like white on rice. You may think he is hurting his own success, but what you don’t know about your project manager’s records could be what is keeping the job together.
A Project Manager must analyze how time on their project is being spent and be prepared to make adjustments. Wasted time can send you over-budget or, even worse, kill a project. It may seem like unnecessary effort, but accounting for time spent is an important task.