Earned Value Analysis : A tool for decision-making
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− | The '''Earned Value Analysis (EVA)''' Is a method used in | + | The '''Earned Value Analysis (EVA)''' Is a method used in <span class="plainlinks">[https://en.wikipedia.org/wiki/Project_management Project Managment]</span> for monitoring the performance and progress of a project through a comparison of the planned project and the actual project. Measurements from the project, of the three components of the <span class="plainlinks">[https://en.wikipedia.org/wiki/Project_management_triangle Project management triangle]</span>, Time, Cost & Scope are used as input in the analysis to create an objective estimate of the projects health. |
== History == | == History == | ||
− | The Earned Value Analysis initially named PERT/COST was first used by the US government in the 1960s as the tool was imposed onto the contractors of the US Department | + | The Earned Value Analysis initially named PERT/COST was first used by the US government in the 1960s as the tool was imposed onto the contractors of the <span class="plainlinks">[https://en.wikipedia.org/wiki/United_States_Department_of_Defense US Department Of Defense]</span> as a way of standardising the performance tracking of all the departments different projects. PERT/COST generated a large discontent amongst the contractors due to it's inefficiency and was ultimately changed by the US Department Of Defense in the late 1960s. From this a new analysis arose called Cost/Schedule Control Systems Criteria (C/SCSC) which is the criterion based approach that now used widely through all of project management and known as the '''Earned Value Analysis (EVA)''' |
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Revision as of 10:00, 12 June 2017
The Earned Value Analysis (EVA) Is a method used in Project Managment for monitoring the performance and progress of a project through a comparison of the planned project and the actual project. Measurements from the project, of the three components of the Project management triangle, Time, Cost & Scope are used as input in the analysis to create an objective estimate of the projects health.
History
The Earned Value Analysis initially named PERT/COST was first used by the US government in the 1960s as the tool was imposed onto the contractors of the US Department Of Defense as a way of standardising the performance tracking of all the departments different projects. PERT/COST generated a large discontent amongst the contractors due to it's inefficiency and was ultimately changed by the US Department Of Defense in the late 1960s. From this a new analysis arose called Cost/Schedule Control Systems Criteria (C/SCSC) which is the criterion based approach that now used widely through all of project management and known as the Earned Value Analysis (EVA)