helps in developing a project schedule which in turn allows better control of time, and ultimately, better control of money.
10. For Widespread Acceptance, EVM Requires Top-Down Supports
EVM must be supported by top management in order to be widely used. This is partly because EVM requires resources. The methodology can be easily implemented on small projects using tools such as MS Excel and MS Project, but will require greater organizational support for bigger projects. No matter what the size of the project, all staff will require training on the methodology to enhance collaboration and communication.
The Bottom Line
Earned Value Management is not the only project management tool out there, and it is only successful when implemented at the right time and for the right project. However, if all necessary factors are present, EVM can be an extremely useful tool for CIOs looking to improve their project management success.