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Practice Project Management at home
As a Mom, it is important to know exactly where everyone is at any given time, how long they are going to be there, and what they are doing while they are there. Other than that, it’s pretty simple.
As a Project Manager, it is important to know exactly what task each project resource is working on at any given time, how long they will be working on that task , what they are doing and why they are doing it. Other than that, it’s pretty simple. Read more »
Monitoring and Controlling in Project Management
Monitoring and Controls on a project is valuable and worth the experience. Measuring how a project is doing helps stakeholders to understand the future health of a project. Read on for a little insight into how it’s done. Read more »
EVM Example Part 3 - Forecasting ETC and EAC
Now, let’s find the ETC and EAC.
From part 1:
PV = $450,000 USD
EV = $420,000 USD
AC = $415,000 USD
BAC = $2,000,000 USD
From part 2:
CV = $5,000 USD
CPI = 1.01
SV = -$30,000 USD
SPI = 0.93
We’ll use the formula for ETC for typical variance, meaning that we expect progress to continue the way it has in the past.
ETC [...] Read more »
EVM Forecasting
EVM is meant to be used during project execution to monitor progress and hopefully find problems early so that adjustments can be made. Forecasting is an important part of finding out how big of a deal your CPI or SPI is at this point in the project.
We’ll use the same numbers from the last [...] Read more »
