Discussion week 5, business and finance homework help

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Q1- Let’s start out by asking just what is Earned Value (the technique not the value)? [References required for that bit] Have any of you used it or seen it used before? Thoughts, examples, comments? BTW, this stuff is also referred to as EVA (Earned Value Analysis) and EVM (Earned Value Management. Our textbook uses EVA). Q2- Question for all – They must use something?! People, where you work or have worked, they must have some method of Project Monitoring and Control (everybody does!) Class, briefly describe the system and discuss any changes or improvements you would make given your presumably new, but no doubt sophisticated knowledge of such matters. BTW - you could interview people within your organization if more insight would be useful. You will also get a chance to hear from classmates who have, and ask questions and make comments on their posts. Remember to add 3 additional facts per question Thanks ...
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ephykam
School: Rice University

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Discussion Week 5
I.
II.

Earned Value Management/Analysis
Project monitoring and controlling


Running head: DISCUSSION WEEK 5

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Discussion Week 5
Student’s Name
Institutional Affiliation

DISCUSSION WEEK 5

2
Discussion Week 5
Question 1:

Earned Value Management/Analysis
Controlling a program is critical in determining the success or failure of a project.
Besides, measuring a project performance during its stipulated time of completion is a signal,
which can be utilized to trigger corrective measures in a case a program is in danger. Thus, EVM
is a significant tool employed to measure project performance basing on schedule and cost
(Stratton, 2006). The method was applied in the early 1960s by the American Department of
Defense to detect issues or exploit program opportunities. Earned value management also known
as earned value analysis is a technique used to measure the program’s progress at any provide
time while at the same time forecasting the project date of completion, final cost and assessing
the variances in the project schedule and budget as it proceeds (Keng, & Shahdan, 2015). That is,
EVA is utilized to perform a comparison of whether the planned amount of tasks is reflecting the
completed work, and determines is the cost, schedule, and tasks are pr...

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