Principles of Earned Value Management and the Sarbanes-Oxley Act

EVM AND SARBANES-OXLEY
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In the past decade, there have been several high-profile financial scams that have hit major corporations especially in the U.S. It was time to come up with a legal framework that would nip this in the bud. The SOX Act has played a crucial role in ensuring that organizations work hard to secure data and information through formulation of policies geared towards that direction. The SOX Act was therefore enacted to prevent corporate fraud. At a time when the corporate world was writhing from various financial scandals such as the Enron and Worldcom ones, the Act could not come at any better time. Sealing these loopholes and making everyone responsible was essential. EVM is simply a management tool that helps to prioritize and integrate performance, timeliness, efficiency and standards all into one (Hunter, Fitzgerald & Barlow, 2014). The essence of EVM is to ensure that the project is done with all the required and desired procedures in one.
The Earned Value Management Systems is a tool that has many part...