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Southern New Hampshire University *
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Information Systems
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Apr 3, 2024
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docx
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Uploaded by BirdGang1988
Hello everyone,
EVM criterion #10's objective is to identify a project's distinct work and objective measurements. Budgets for approved work must be set up in terms of money, hours, or other quantifiable units in order to comply with this requirement. It goes into more detail on what a final Performance Measurement Baseline (PMB) has to have. This is the point at which, to the greatest extent feasible, discrete work packages for near-term activities must be prepared, with larger planning packages for projects that are further distant in time. Over the course of the project, every budget needs to be time-phased (Fleming & Koppelman, 2016). This criterion offers an organized method for scheduling and budgeting, which enhances project performance. Tracking progress and spotting possible problems early on is made easier by dividing the work into smaller, more manageable pieces. This makes it possible to predict project costs and timeframes more accurately, which helps to guarantee that projects are finished on schedule and within budget (National Defense Industrial Association, 2020). Although criterion #10 is still a crucial component of the EVM system, it could be challenging to create a budget in terms of quantifiable units if the task being done is extremely complex or challenging to measure. Furthermore, if a subcontractor is handling the job and is unfamiliar with the project's goals and objectives, it could be challenging to establish a budget in terms of quantifiable units. Hope everyone has a great rest of the week.
Nate
Fleming, Q., & Koppelman, J. (2016). Earned Value Project Management (4th ed.). Independent Publishers Group (Chicago Review Press). https://mbsdirect.vitalsource.com/books/9781935589419
National Defense Industrial Association. (2020, January 29). Earned Value Management System Guideline Scalability Guide
. ndia.org. https://www.ndia.org/-/media/sites/ndia/divisions/ipmd/division-guides-and-resources/
ndia_ipmd_evms_scalabilityguiderev2_jan292020.ashx
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