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APA
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Management
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English (U.S.)
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Topic:

Feasibility of Using Earned Value Management for Every Project

Essay Instructions:

We have learned about using EVM and focused on its use in longer-term, higher-cost projects. But what about smaller projects? Do these principles still apply for managing projects that only span a short amount of time and/or cost a small amount of money? Explain your thoughts on the use of EVM for small-scope projects. Specifically, describe whether or not you think EVM can still be successfully employed. Why or why not? Depending on your point of view, describe either
1. An example of how it could be successfully employed, or
2. how trying to use EVM would not be realistic or prudent.

Essay Sample Content Preview:

EVM for every Project
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EVM for every Project
EVM is a common concept used mostly in large projects. The main debate is whether it applies to small projects or not. The answer to the question requires a comprehensive understanding of the EVM components. EVM is a project management methodology that integrates scope, costs, and project schedules (Ballesteros-Pérez et al., 2019). It relies on actual and planned values. According to Khesal et al. (2018), EVM is necessary for predicting the project's future. Based on its definition, EVM can still be used in small projects. Besides, it is also applicable for managing short-term projects with similar principles.
Based on my opinion, EVM can successfully be used in small projects. The only change that will be noted is the values and duration. However, many principles would remain the same. EVM is significant in small projects since it would allow the manager to identify specific trouble spots for corrective action (Small projects and earned value management, n.d.). All the projects, whether small or large, have issues that should be timely addressed; the onl...
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