Abstract

This completely revised and updated guide to earned value (EV) project management is the go-to choice for both corporate and government professionals. A Practical Guide to Earned Value Project Management, Second Edition, first offers a general overview of basic project management best practices and then delves into detailed information on EV metrics and criteria, EV reporting mechanisms, and the 32 criteria of earned value management systems (EVMS) promulgated by the American National Standards Institute and the Electronic Industries Alliance and adopted by the Department of Defense. This second edition includes new material on: EV metrics Implementing EVMS Government contracts Time-based earned schedule metrics Critical chain methodologies In addition to this new material, authors Charles and Charlene Budd have reorganized some existing material to enhance readability while retaining the same trusted and comprehensive approach as the first edition. They offer insights into the mechanics of EVMS for a thorough understanding of the processes and a practical presentation of how to best implement EVMS practices. Contents Part I — Introduction • Background and Motivation • Project Management • Part II —The Basics of Earned Value • Earned Value Metrics • The Earned Value Management System • Part III — It’s All in the Plan • The Project Plan (Criterion 1) • The Organization (Criteria 2–5) • The Schedule (Criteria 6–8) • The Budget (Criteria 9–15) • Part IV — Project Status • Tracking Performance (Criteria 16–21) • Reporting Variances (Criteria 22–27) • Part V — Handling a Project’s Changes and Termination • Time for a Change (Criteria 28–32) • Are We There Yet? • Part VI — Earned Value Implementations • Implementing EVMS • Government Contracts • Partial EV Implementations • Part VII — Emerging Practices • Earned Schedule • Critical Chain Project Methodology About the Authors Charles I. Budd, PMP, is a principal of Budd Management Systems in Atlanta, Georgia. He is certified as a system analyst by the Foundation for Administration Research. Charlene S. Budd, PhD, CPA, CMA, CFM, PMP, is Professor Emeritus of Accounting at Baylor University, where she has taught graduate accounting and project management courses. She is active in the American Institute of CPAs, the American Accounting Association, the Financial Executives Institute, and the Project Management Institute.