Earned Value, Clear and Simple
METROPOLITAN TRANSPORTATION AUTHORITY LOS ANGELES CA
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The term Earned Value is gaining in popularity around project management circles as if it is some wonderful new concept to be embraced. Yet, it has been in use since the 1960s when the Department of Defense adopted it as a standard method of measuring project performance. The concept was actually developed as early as the 1800s when it because desirable to measure performance on the factory floor. Today, it is both embraced and should often in response to prior experience or stories told in the hallway. The opponents will generally cite the cost and effort to make it work, and the limited benefit derived from its implementation. The proponents will cite the cost savings to the project overall, the improved analysis, communication and control derived from its implementation.
- Administration and Management