Your company is a dynamic organization that depends on using standard project management techniques as prescribed by PMBOK in managing series of projects to keep its IT infrastructure in alignment with its business goals.
Your company has decided to use the earned value management (EVM) technique to monitor and control projects. In a report of 2–3 pages, complete the following:
- Define the concepts of cost variance and schedule variance.
- Demonstrate your understanding of EVM by using appropriate examples to illustrate the schedule performance index (SPI).
- Analyze how knowledge of the SPI will help you as a project manager in controlling the project and ensuring that it is completed within the scheduled target.
- Complete your paper and reference sources using APA style.
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Your company has discovered that it must confront its chronic project cost problems head-on in order to operate profitably. As part of cost control measure, you will use the earned value management (EVM) technique to plan and track performance of the newest set of projects. Your company has determined that project managers must have a deep understanding of cost management.
- Discuss your understanding of EVM using concrete examples.
- How does EVM impact project quality?
- Describe how you would use EVM to determine whether a project is being completed within budget
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