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Essay Available:
Pages:
1 page/≈275 words
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3 Sources
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APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
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MS Word
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Total cost:
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Topic:

Earned Value Management Metrics

Essay Instructions:

We have covered several statistics and measures that can be used to track project performance. Indeed, this is the crux of EVM. Considering what you have learned about appropriate project management metrics, including what you have learned from this module's reading about metrics to manage several projects, develop an additional metric that you feel would be useful for managing a project or portfolio of projects. It can be as simple or creative as you would like. List the actual metric that you propose, and include discussion of how you would gather appropriate data and calculate the metric. Use a hypothetical example of how this would be employed.

Essay Sample Content Preview:

EVM Metrics
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Earned value management (EVM) refers to a project management methodology that incorporates costs, scope, and schedule to measure the project performance. Based on the actual and planned values, EVM always predicts the future and enables the managers to make the right decisions and adjust accordingly. Examples of the project management metrics include the following such as the Actual Cost, Earned Value, Return on Investment, Cost Variance, Employee Satisfaction Score, Productivity, Customer Satisfaction, and also Gross Profit Margin. This paper will discuss the Actual Cost (AC) of the project management metrics.
The Actual Cost can also be referred to as the actual cost of work performed, and it is relatively straightforward. In this method, if you are using robust project management software, tracking the actual costs must not be a challenge to the user. When working with this method, you should learn to include and use hidden costs such as resources, hardware, software licenses, or overheads. The actual cos...
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