Episode 025: Introduction to Earned Value Management (EVM)

Play Now:

A warm welcome to all students of the University of Central Florida - don't forget to check out the rest of our podcasts!

Free · 60 PDUs · Self-reported to PMI

Earn 60 Free PDUs

Most episodes of The PM Podcast count toward your PMP renewal. My PDU page shows you exactly how it works: which episodes qualify, how to track them, and how to report them to PMI.

See how to earn your PDUs

Show notes: Earned Value Management (EVM) is a systematic approach to the integration and measurement of cost, schedule, and scope accomplishments on a project or task. We are starting with an introduction to earned value in project management in which you will get a basic overview of how it came to be, how it works and we will discuss its benefits and shortcomings.

Of course, in order to carry out scope control in project management, we have to know what the scope is. That's fundamental for EVM, so you can see that EVM and project scope management are related in the way we approach the work. In particular, project management scope creep can cause issues for EVM reporting. Having said that, the good thing about EVM is that it does help you see what is happening on the project, so you can be quickly alerted to project performance issues. We look at what is scope in project management in our other resources, but as you study EVM topics, remember to relate them back to scope management. So many project management processes and knowledge areas link together, and this topic area is no exception.

We also have some great helpful resources, announcements for several PM events around the globe and you can hear a review of a new project management related podcast called The Apprenti Podcast.