Projects at Work

Breaking the EVM Code for PSOs

In this final part of our three-part series on earned value management, a practical primer on how professional services organizations can implement this quantitative approach to tracking project performance, including five fundamental steps to execute EVM on your next project.


Previously in this series:(L)earned Value” and “Hard Earned Value.”
 
Earned value management (EVM) is a methodology employed by many manufacturing and construction organizations to track project performance, but for most of the professional services industry, it represents unexplored territory. It’s definitely worth exploration. Given the project-driven nature of many professional services organizations (PSOs), the business value is significant if these organizations can discover a practical way to implement EVM in their project delivery process.
 
By definition, EVM is a technique for tracking project performance that is based on three core metrics: Planned Value, Earned Value and …


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