Anyone working in the project world has heard of the word ‘forecast’. The most commonly asked question from the senior executive management team is ‘how much will it cost at completion?’ Most of the time, this question cannot be answered […]
Including an industry-standard Primavera P6 or MS Project schedule with your bid offers many valuable aspects, both for your bid strength and for your project team. Having reviewed bid packages for owner’s teams in the past, we’ve noticed how many […]
When tracking project costs, accruals and progress must be considered carefully. When expenses arise during a project, it is common for some companies to “back charge” expenses incurred to accounting at the end of the period in which the expenses […]
In this article, we will take a look at formulas and processes available to project teams using an Earned Value Management System (EVMS). These formulas operate on the same principle as any such a system, vulnerable to a garbage in […]
Burned and earned hours are sometimes misunderstood. What are they? How do you calculate them? This article takes a deeper look at what these hours are and how to calculate them. What are Burned and Earned Hours? Burned hours, in […]
When it comes to project management, the percent complete is an incredibly important measure. It’s a statistic that can be used to determine the status of a task in relation to its overall completion. From a management perspective, it also […]
Anyone in project management has been (or will be) asked to produce a schedule for their next project. This task is never easy and here are some steps you can take that may help you when the time comes for […]
Whether you are new to the principles of Earned Value, this article will give you an explanation of what is really involved in measuring progress on your investment. We will also provide some basic ways to keep your project on […]
This series is designed to work our way from the basics of Earned Value Management (EVM), into the best practices, and eventually beyond, to explore improvements and advanced concepts. The intent is to provide a roadmap for those looking to […]