When did Earned Value Management start?
Answers from top 8 papers
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| Papers (8) | Insight |
|---|---|
| The findings revealed the major barriers to earned value management implementation, and potential strategies to improve the effectiveness of earned value management practice in this industry. | |
13 Citations | This article shows that EVMs should be made at the lowest level of the WBS for which budgets are available and should use the “0-100” approach in assessing earned value. |
26 Citations | Comparisons between EVM-G and the fuzzy earned value management approaches reveal the superior performance of EVM-G. |
| On the basis of these findings, new approaches to value management can now be formulated. | |
01 Sep 2010 | It provides a means to expand the definition of earned value metrics to cover both the costs and benefits of achieving those goals through those strategies and provides measurement support for all concepts. |
| This paper presents the implementation problems and also some methodology and specific techniques to overcome each of these problems, thus providing an effective and relatively easy implementation of earned value. | |
35 Citations | Research findings provide an efficient control mechanism in earned value analysis, which would be highly applicable in production control area. |
25 Jun 2014 3 Citations | The present study proposes an extension of the Earned Value Management (EVM) technique, through the integration of the quality historic data as a mean of improving the technique’s cost predictability. |
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How did project management evolve throughout the years?5 answersProject management has evolved over the years, with changes in research themes, active parties involved, and the understanding of the field. The evolution can be observed through the quantity and impact of research publications. Initially, project management focused on supporting traditional projects, but it has now broadened to include human factors, strategy, and organizational dynamics. Throughout history, humans have been refining project management practices, with examples of successful colossal projects like the Pyramids of Giza and the Great Wall of China. Project-based organizations have also developed and improved project management competencies over time, following prevailing approaches in organizational management practices. The adoption and implementation of project management frameworks have improved, leading to increased effectiveness and comprehensiveness of overall management practices. In conclusion, project management has evolved to encompass a broader range of topics and has become more sophisticated in its approach to achieving successful project outcomes.
What is Earnings Management?5 answersEarnings management refers to the practice of manipulating financial statements to influence the reported earnings of a company. It is used by management to present a more favorable financial picture to stakeholders, such as investors and creditors. Earnings management can involve various techniques, including the choice of accounting policies, the timing of revenue recognition, and the manipulation of accruals and real activities. The motivation behind earnings management is often to attract investors, enhance the company's reputation, or increase management compensation. However, earnings management can undermine the reliability and trustworthiness of financial statements, making it difficult for investors to make informed decisions. Research has been conducted on earnings management in different contexts, including its impact on stock returns, tax aggressiveness, and the factors influencing its occurrence.
How can the earned value management and earned schedule management be used to save cost and time?5 answersEarned value management (EVM) and earned schedule management (ESM) can be used to save cost and time in project management. EVM is a well-known method that allows for efficient cost management. It provides reliable data throughout the entire project, allowing project managers to monitor and control costs effectively. On the other hand, ESM focuses on schedule performance assessment and provides intrinsic schedule performance metrics. These metrics ensure that the schedule performance of the overall project and individual work packages can be measured reliably and independently. By using ESM, project managers can accurately track the progress of the project and identify any potential schedule delays. This allows for timely adjustments and interventions to be made, ultimately saving time and cost. Therefore, by combining EVM and ESM, project managers can have a comprehensive approach to project monitoring and control, leading to improved cost and time management.
How earned value management is used in construction projects?5 answersEarned value management (EVM) is a technique used in construction projects to integrate scope, cost, and time measures and provide an accurate picture of the project's current state during control. It helps in evaluating project progress and the efficacy of the project plan by conducting frequent and timely reviews throughout project execution. EVM calculates metrics such as the Cost Performance Index (CPI) and Schedule Performance Index (SPI) to assess project performance. By using EVM, project teams can identify deviations from the plan and take corrective actions in advance. It also enables the estimation of project completion costs and durations. The application of EVM in construction projects can help minimize material wastage and control costs. Overall, EVM is a valuable tool for project management in the construction industry, providing insights into project performance and facilitating cost control and schedule management.