Earned Value Management For Project Performance

About Customer

The customer is a leading business consulting firm in business process analysis, project management and software outsourcing. It needs a good project management software and wants to build an earned value management (EVM) software application suite for ease-of-use, scalability, flexibility, security and performance. EVM for project management and performance is designed to manage projects, both large and small, and to scale up to handle hundreds of projects and users in even the largest enterprises.

Challenge

The customer had to deal with different portfolios to track project timelines and performance. Manual checking of project performance failed to keep track of project performance during the workflow. The work breakdown structure task was difficult to maintain. The customer realized the need for a platform that could help manage it centrally and also enable them to track performance such cost performance index and schedule performance index. Earned value management (EVM) has become an essential part of managing large-scale, complex, or high-risk IT programs.

EVM software helps in the following ways:

1. Relate time phased budgets to specific contract tasks and/or statements of work
2. Provide the basis to capture work progress assessments against the baseline plan
3. Relate technical, schedule, and cost performance
4. Provide valid, timely, and auditable data/information for proactive project management analysis and action
5. Supply managers with a practical level of summarization for effective decision making.