The PM Podcast

Project Management for Beginners and Experts

Episode 027: No Earned Value? No Problem!

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Show notes: Todays you will find the following items on the menue: First you will hear about some great changes to the show. Next, we have a template to download and a book to give away, it's titled Napoleon on Project Management by Jerry Manas (Amazon Link). In the main section of the episode, I will show you the many ways to monitor your project without the sophistcated requirements of Earned Value and finally I’d like to tell you why you should listen to the Cold Fusion Podcast episode 18 (hint: it's on project management).

Helpful resources for  this episode...

Earned value is comparing planned cost to actual costs.
Use Key Performance Indicators KPI as they are available (Schedule, milestones etc.)
Compare planned milestone dates to the actual milestone date
Look at tasks that are complete, is there any lag time to work on or start other tasks early.
Too many change requests may mean the scope was not clearly defined in the beginning.

Signs to watch to know when project is going south:
1. If stakeholders are constantly asking the same questions about the same problem.
2. If you are not getting any response or little assistance from your team and project sponsor.
3. If you avoid meeting with someone or group of people.

For me, I judge my first instinct. If I don't feel right about the progress of the project, something is wrong.
Earned value is one of progress tracking method, we still have lots of ways or tools on methodology of performance trend. A Histogram chart or status report could be useful to demonstrate our accomplishment to target. To define the suitable process and reporting template in order to communicate well on the progress for everybody understanding and operation familiar, that's most important key.