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.