ARES PRISM Blog

10 Benefits of Implementing Earned Value Management

Posted by Deon Van Wyk on Jan 16, 2015 2:49:00 PM

Introduction:

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.

 

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Topics: Earned Value Management, Helpful Tips

Project Forecasting That Everyone Believes In

Posted by Tiffany Minegar on Nov 18, 2014 12:01:00 PM

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? 

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Topics: Earned Value Management, Forecasting

Automated Earned Value Techniques Don’t Just Miss the Boat, They Force the Yacht

Posted by Wendy Freeman on Nov 4, 2014 9:53:00 AM

As a community, I’ve seen an evolution in the methods used to determine percent complete.  It used to be that Control Account Managers (CAMs) were asked to estimate their percent complete using the “thumb in the wind” method.  If a task was long in duration, the earlier estimates were typically optimistic.  As the task neared completion, the earned value metrics “tanked” quickly.

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Topics: Earned Value Management

Challenge the Status Quo

Posted by Tiffany Minegar on Oct 18, 2013 10:04:00 AM

Challenge the Status Quo

Today’s cost-squeezed government environment provides an exciting opportunity to challenge the status quo by retooling for growth. Take proactive control and mitigate risk with business intelligence and an early warning system for real-time insight into high-risk projects across your entire project portfolio.

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Topics: Earned Value Management

Are You Ready For Your Next Compliance Review?

Posted by Matt Perry on Sep 26, 2013 9:55:00 AM

Are you prepared for your next
DCMA Compliance or Surveillance Review?

Preparing for these reviews can appear overwhelming and complicated, but this preparation is an essential requirement. With a fully Integrated Program Management solution you can meet the Government's requirements AND ensure program success – on schedule, within budget, and profitable.

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Topics: Earned Value Management

PRISM G2 for the Aerospace & Defense Industry

Posted by Matt Perry on Sep 12, 2013 9:57:00 AM

Introducing ARES PRISM G2 for the Aerospace & Defense Industry. Whether you need an earned value engine or a fully integrated program management solution, make PRISM G2 the Core of your Earned Value Management System.

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Topics: Earned Value Management