How do you manage your project or what is the best way to direct projects throughout life cycle?
A simple question with lots of challenging answers. These days, many institute and universities all around the globe working on this subject seriously to explore the more efficient methodologies to manage projects in best adaption with fulfilling requirements. As time goes ahead, new approaches such as agile, hybrid and etc. steps in to existence to empower project teams to meet the project objectives as better as possible.
Let’s back to my question: Which methodology is using by you for managing your project?
You may follow traditional methodologies or stick to new agile mindset. Choosing your attitude is depending strongly to your business type, customer’s requirement, type of your project and team’s culture.
Earned Value Management System (EVMS) is one of the most reputable methodologies for manage projects. This concept innovated by US Deputy of Defense (DOD) in 1967. The basic concept of EVM is more than a unique project management process or technique. It is an umbrella term for 32 guidelines that define a set of requirements that a contractor’s management system must meet. By implementing this method, moreover managing project cost, you will have other results to make sure your steps on project management are planned and under control.
This method is simple to understand. Despite it is not comprehensive as PMBOK to cover all aspects of project management but it is detailed enough to being well impressive. This method determined 32 criteria in 5 aspects and most of the criteria are cost oriented. These five chapters are:
- Organization (5 Criteria)
- Planning, scheduling and budgeting (10 Criteria)
- Accounting consideration (6 Criteria)
- Analysis and management reports (6 Criteria)
- Revisions and data management (5 Criteria)
Based on the initial approach, all contractors which works with US DOD must met these 32 criteria to assure administrative that their projects are managed on a structured environment.
This standard registered by ANSI under the code number of ANSI/EIA 748 and using in all industries to make the same insurance on systematic management.
To know more about EVM training course , click on below link
