EARNED VALUE MANAGEMENT

EARNED VALUE MANAGEMENT

1. Plan Schedule Management

   • Inputs
     • Project charter
       • It defines the summary milestone schedule
     • Project management plan
       • Scope baseline
       • Other information.
     • Enterprise environmental factors
       • Organizational culture
       • Published commercial information
     • Organizational process assets
       • Historical information
       • Historical information
   • Tools & Techniques
     • Expert judgment
       • It provides valuable insight about the environment from prior similar projects
     • Analytical techniques
       • Scheduling methodology
       • Scheduling tools
       • Techniques
       • Estimating approaches
     • Meetings
       • Project sponsor
       • Stakeholders
   • Outputs
     • Schedule management plan
       • Project schedule model development
       • Level of accuracy
       • Organizational procedures links
       • Units of measure
       • Organizational procedures links
       • Project schedule model maintenance
       • Control thresholds

2. Estimate Activity Durations

   • Inputs
     • Schedule management plan
     • Activity list
       • It identifies the activities that will need duration estimates
     • Activity attributes
     • Activity resource requirements
     • Resource calendars
     • Project scope statement
       • Existing conditions
       • Availability of information
       • Length of the reporting periods.
     • Risk register
     • Resource breakdown structure
     • Enterprise environmental factors
       • Duration estimating databases and other reference data
       • Productivity metrics
       • Published commercial information
     • Organizational process assets
       • Historical duration information
       • Project calendars
   • Tools & Techniques
     • Expert judgment
     • Analogous estimating
     • Parametric estimating
     • Three-point estimating
       • Most likely
       • Optimistic
       • Pessimistic
     • Group decision-making techniques
     • Reserve analysis
   • Outputs
     • Activity duration estimates
     • Project documents updates

3. Estimate Activity Resources

   • Inputs
     • Schedule management plan
     • Enterprise environmental factors
     • Organizational process assets
     • Activity cost estimates
     • Activity attributes
     • Risk register
     • Resource calendars
     • Activity list
   • Tools & Techniques
     • Alternative analysis
       • Many schedule activities have alternative methods of accomplishment
     • Published estimating data
     • Expert judgment
       • It is often required to assess the resource-related inputs to this process
     • Bottom-up estimating
       • It is a method of estimating project duration or cost by aggregating the estimates of the lower-level components of the WBS. When an activity cannot be estimated with a reasonable
     • Project management software
   • Outputs
     • Activity resource requirements
     • Resource breakdown structure
     • Project documents updates
       • Activity list
       • Activity attributes
       • Resource calendars

4. Define Activities

   • Input
     • Schedule management plan
       • It is the prescribed level of detail necessary to manage the work.
     • Scope baseline
       • Deliverables
       • Constraints
     • Enterprise environmental factors
       • Organizational cultures and structure
       • Published commercial information from commercial databases
     • Organizational process assets
       • Standardized processes
       • Existing formal and informal activity planning-related policies
   • Tools & Techniques
     • Decomposition
       • Each work package within the WBS is decomposed into the activities required
     • Rolling wave planning
       • It is a form of progressive elaboration
     • Expert judgment
   • Output
     • Activity list
       • includes all schedule activities required on the project
     • Activity attributes
       • Describe a necessary sequence of events or successor relationships
     • Milestone list
       • It has scheduled dates for specific milestones

5. Sequence Activities

   • Input
     • Schedule management plan
     • Activity list
     • Activity attributes
     • Milestone list
     • Project scope statement
     • Enterprise environmental factors
     • Organizational process assets
   • Tools & Techniques
     • Precedence diagramming method (PDM)
       • Finish-to-finish (FF)
       • Finish-to-start (FS)
       • Start-to-start (SS).
       • Start-to-finish (SF).
     • Dependency determination
       • Mandatory dependencies
     • Leads and lags
   • Outputs
     • Project schedule network diagrams
     • Project documents updates
       • Activity lists
       • Activity attributes

6. Develop Schedule

   • Inputs
     • Schedule management plan
     • Activity list
     • Activity attributes
     • Project schedule network diagrams
     • Activity resource requirements
     • Resource calendars
     • Activity duration estimates
     • Project scope statement
     • Risk register
     • Project staff assignments
     • Resource breakdown structure
     • Enterprise environmental factors
     • Organizational process assets
   • Tools & Techniques
     • Schedule network analysis
     • Critical path method
     • Critical chain method
     • Resource optimization techniques
     • Modeling techniques
     • Leads and lags
     • Schedule compression
     • Scheduling tool
   • Outputs
     • Schedule baseline
     • Project schedule
     • Schedule data
     • Project calendars
     • Project management plan updates
     • Project documents updates

7. Control Schedule

   • Input
     • Project management plan
     • Project schedule
     • Work performance data
     • Project calendars
     • Schedule data
     • Organizational process assets
   • Tools & Techniques
     • Performance reviews
     • Project management software
     • Resource optimization techniques
     • Modeling techniques
     • Leads and lags
     • Schedule compression
     • Scheduling tool
   • Outputs
     • Work performance information
     • Schedule forecasts
     • Change requests
     • Project management plan updates
     • Project documents updates
     • Organizational process assets updates