S-curves can be an incredibly powerful tool in the management of projects. They graphically display cumulative progress information over time and can be used to gain valuable insight into any type of project. The curves provide an intuitive method for the project team and stakeholders to understand how a project is progressing.
Find yourself forgetting important Earned Value formulas and symbols? Use this handy cheat sheet to refresh your memory! Click here for a printable version.
In 2005, the Defense Contract Management Agency (DCMA) implemented a 14-Point Schedule to help identify potential issues within project schedules. These 14 points act as a means of evaluating schedules to ensure they are built to best practices.
Public-Private Partnerships (also known as P3s or PPPs) are gaining popularity as a way to fund massive infrastructure projects across the globe. The use of P3s makes it possible to invest in projects that would otherwise be neglected, ultimately creating economic opportunity and improved global infrastructure.
When someone tells you that something is “out of the box”, what goes through your mind?
The reason I ask is that you may be surprised by what the term “out of the box” means to some people, especially in regards to software. Some companies argue that “out of the box” includes software that provides basic functionality when initially installed, but requires additional custom development before it would be considered usable in a working environment. After all, they argue, the software is partially usable - it can be installed on a computer and will start, it will show basic forms and menus. True, it doesn’t yet include all the functions you need, but that’s just a configuration issue, right? The software seller has promised to “configure” the software (for an additional cost over a period of months) to include the missing functions. So, why can’t they call their software “out of the box”?
BURLINGAME - SNPEC has successfully implemented ARES PRISM as their enterprise project lifecycle management tool for ensuring the completion of their nuclear projects. SNPEC is currently involved in the development of four units of two AP1000 pressurized water reactors in the Sanem & Haiyang Nuclear Power Plant. Developed by Westinghouse, the AP1000 represents state-of-the-art nuclear power technology. This multi-billion dollar project is incredibly complicated and requires a rigorous project controls process in order to achieve success.
We are pleased to announce a new PRISM case study with LLW Repository, who provides an essential service by managing the UK’s low-level radioactive waste. Before implementing PRISM, they were reliant on shared systems and had no control over data configuration. They needed a tool that would give them both independence and flexibility as they redefined their business processes as an independent company.
Earned Value Management (EVM) is a project management technique for measuring project performance. PRISM is an Earned Value Management System (EVMS) that helps you find variances in projects based on the comparison of worked performed and work planned. So, why use an earned value management system like PRISM? Here are four great reasons:
Topics: Earned Value Management
Earned Value Management Systems (EVMS) help organizations better measure project performance and progress. It often produces valuable insight to organizations. However, many find it difficult to empirically quantify the financial benefit of implementing EVMS.
For a project controls organization, EVMS can provide valid benefits like the integration of work, schedule, and cost; early warning signals through CPI and SPI; and an index-based method to forecast the final cost of the project.
Let’s explore ten qualitative benefits of EVMS and determine if it is more beneficial to implement an EVMS or stay with traditional project management processes.
With ever increasing demands from your customer, executives, and other stakeholders, providing an accurate forecast is more important than ever. Whether the project baseline started from an excel project management template or is a proper project s curve, these indicators serve to better predict the direction of your project and help you take corrective action. But what cost management and scheduling techniques should we use on each project so that our project forecast is believable and realistic?