Option #2: Earned Value Management Review
Using past course texts, current suggested readings, and other scholarly resources, write a review of earned value management.
Define the following:
Schedule variance (SV)Cost variance (CV)Schedule performance index (SPI)Cost performance index (CPI)Be sure to address these questions:
What do SPI and CPI demonstrate? How do you plan to use this information in your recommendation to the CIO?How are SV and CV related to one another? Why are these terms important?What are the major advantages of using earned value metrics to understand the effectiveness of project performance? What do you perceive are its disadvantages?What are the challenges associated with obtaining earned value metrics? What can you do as a project manager to minimize the challenges?What are your recommendations given the information above?Lastly, conclude with a description of the value of earned value management to an organization.
