Chasing Earned Value

Recently, I was given the task of writing a short (4 – 5 page) paper on the basics of Earned Value Management (EVM), and why it’s useful for medium to large organizations in managing their projects. The idea was to deal with the “why”, not the “how”. I worked in a large aerospace organization for over two decades and we used EVM extensively. It is, after all, a requirement for all government contractors.

Earned Value Terminology

A Plethora of Acronyms Revealed

Having retired from that industry a little over four years ago, I was a bit rusty. However, you can’t have that stuff drummed into your head without it engraving itself fairly deeply on your consciousness. It didn’t take me long to come back up-to-speed. In fact, the biggest problem I had was knowing where to stop. EVM is full of acronyms and formulae (BCWS, BCWP, ACWP, SPI, CPI, etc., etc., etc.), all of which I’m fairly certain are useful . . . when used intelligently. As with most things, how valuable they are depends a great deal on what you’re trying to accomplish, how prepared and disciplined you are, and how well you execute over time.

Now this brings me to a somewhat vexing problem and the reason I’m sharing this. I could swear there’s a good argument somewhere as to why EV is not a very good method for managing a project. However, when I searched for problems or reasons not to use EV, all I could find were lists of where organizations go wrong because they don’t plan properly, they don’t pay attention to detail, or they don’t use tools as they’re designed to be used.

So I have a question, which I am now going to throw out into the aether. Assuming some who read this actually know about, and have experience with, Earned Value Management and maybe one or more of the systems used to facilitate its proper application, are you aware of any reasons NOT to use EVM and, if so, could you point me to a resource or school me on the subject? Thanks.

About Rick Ladd

Since my retirement from Pratt & Whitney Rocketdyne in 2010, I have spent quite a bit of energy on developing work as a social media marketer for small business, a business manager for an AI software development firm, and as an editor/proofreader for a number of business books and a couple of novels, as well as a two-year return engagement at Rocketdyne from 2015 to 2017. I have decided to stop actively pursuing business in these fields and am now positioning myself to be a writer. I have done quite a bit of writing over the years, but I’ve never really attempted to make any money at it; at least not specifically. I’m starting out with a couple of memoirs and, currently, I’m studying the craft, creating a detailed outline and timeline, and honing my skills as a storyteller. Pretty sure I’ll be writing some fiction as well. View all posts by Rick Ladd

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