Tracking delivered value on a project can be a tricky task, with many opting to follow a duration based approach, or merely tracking costs. This can very quickly cause financial issues on a project for both customers and contractors. This is the second post on Earned Value Management; the first post focusing on CPI and project troubleshooting, and this post focusing on the billing/invoicing advantages to be had from effective EVM.
Earned Value Management
How does your team communicate with your customer? If they use quantitative data to discuss progress, congratulations! Earned Value Management or EVM is one of the most powerful, yet underused tools in a project manager’s toolbox. Used in the right situations it can transform a relationship and build a trusting relationship with your customers, filling them with confidence during crucial conversations.