Using past course texts, current suggested readings, and other scholarly resources, write a review of earned value management.
Define the following:
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- Schedule variance (SV)
- Cost variance (CV)
- Schedule performance index (SPI)
- Cost performance index (CPI)
Be sure to address these questions:
- What do SPI and CPI demonstrate? How do you plan to use this information in your recommendation to the CIO?
- How are SV and CV related to one another? Why are these terms important?
- What are the major advantages of using earned value metrics to understand the effectiveness of project performance? What do you perceive are its disadvantages?
- What are the challenges associated with obtaining earned value metrics? What can you do as a project manager to minimize the challenges?
- What are your recommendations given the information above?
Lastly, conclude with a description of the value of earned value management to an organization.
Your paper should meet the following requirements:
- Be at least 3 pages in length.
- Be formatted according to the CSU-Global Guide to Writing and APA.
- Include two scholarly sources. The CSU-Global Library is a good place to find these sources.