CASE STUDY: EARNED-VALUE MANAGEMENT
Earned Value Management as an automated early warning system and management tool
Modern development projects require innovative management methods to enable control of the dimensions of time, costs and performance in a single integrated system. Implemented correctly, this is precisely where earned value management (EVM) can be an effective project management tool.
The project team of a German technology company in the maritime sector faced the challenge of integrating EVM as a new project management methodology. In addition to methodological guidance, this necessitated implementing a suitable tool for related data management and reporting, among other things to generate the contractually defined project deliverables in a replicable and efficient manner.
Following a holistic analysis of the processes implemented to date, our development experts, together with the project team, defined a pragmatic and targeted approach for rolling out and implementing integrated EV management.
This laid the groundwork for data-driven project management. Not only did this improve general transparency when measuring the degree of work accomplished; it also optimised progress tracking based on appropriate performance metrics. A customised software tool that underpins the EV methodology supports EV management.
As a result, the developed solution allows planning, resource and budget data to be aggregated and automatically processed at the push of a button. Based on this, progress can be measured and EV forecasts created that can be used as an early warning system in project controlling in order to trigger data-driven and rapid changes. Thanks to the automated creation of reports, it is possible to track project progress in a timely manner. In addition, the tool can be used to provide deliverables to customers on a consistent and daily basis.
We would like to express our thanks for the trust and cooperation and look forward to further successful joint projects.
Wir möchten uns herzlich für die vertrauensvolle Zusammenarbeit bedanken und freuen uns auf weitere erfolgreiche gemeinsame Projekte.
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