INSTRUCTIONS: Post a one to two paragraph response to each of
the two articles below using the 2 x 2 methodology (Two comments
reflecting positive comments about the article and Two
recommendations for improvement or additional information for the
author to consider). The focus is on the concepts of the topics and
requires complete Original Wording and Thought for full credit of
the answer.

Article 1:

Once the schedule and budget of a project are formed, they are
set as a baseline (Kendrick, 2013). As the project work begins, the
actual time durations and costs are recorded (Kendrick, 2013).
Earned Value Management (EVM) compares these expectations to the
actual outcomes of performance, in order to monitor and control
time and costs (Kendrick, 2013).

With an effective EVM system, project managers can identify
schedule slips and budget increases early in a project (Kendrick,
2013). This is useful in order to effectively change course before
the schedule and budget are too far off track. For example, if a
project manager does not apply EVM until halfway through a project,
the PM may find that critical tasks have completed behind schedule
and over budget, delaying the following critical activities. At
this point, there is no action that can be taken to improve the
outcome of the completed critical activities. Additionally, the PM
is left to compensate for the previous failings while trying to
bring the remaining tasks on schedule and on budget.

The delayed implementation of EVM allows the schedule and cost
variances to expand, and it may prevent the PM from recovering the
original schedule and budget. At this point, the EVM metrics are
useful in determining how much time and money will be added to the
original budget, in order to complete the project. This information
is helpful in determining if the project is worth continuing.

In summary, it is beneficial to use EVM for monitoring and
controlling activities, as early as possible within project
execution. This will help the PM identify variances, and it will
allow the PM to improve the work effort to regain control of the
project plan. The use of EVM is essential to maintaining the
project plans and achieving a successful outcome.

Article 2:

We know that Earned Value Management (EVM) plays a vital role in
answering questions related to the status of a project and future
predictions. By definition, EVM is a technique developed by DOD in
the 1960’s that was used to track the progress and status of a
project and also forecast future performance (Gaur, 2012)
.  As organizations integrate the scope, schedule and
budget of a project, EVM is helpful in answering the following
types of questions:

Are we ahead or behind in our project schedule?

How efficiently are we using our time?

When is the project going to be completed?

As of a specific point in time, are we under or over budget?

What will remaining work cost?

What will the entire project cost inclusive of work already
performed and yet to be done?

This type of data is beneficial to PM’s because it will enable
their communication to be effective, concise and clear to the
management responsible for the fate of projects within an
organization. Project Managers benefit from this information in the
following ways:

Ability to identify where problems are occurring

Ability to identify whether those problems are critical or
not

Ability to determine what corrective action is necessary to
correct the ship

Implementing EVM on a project is beneficial as it goes one step
beyond the traditional management approach. Often times, projects
are reviewed with two data sources in mind: planned expenditures
and actual expenditures.  This is helpful in knowing
where a project is within a budget, however, it does not speak to
what was actually produced for the actual cost spent.  In
traditional management there is not an expression for what was
actually produced, the quality of that production, how much it cost
and how long it took.  EVM allows for these questions to
be answered and measured in hopes of completing a project
successful.