One of the key elements of effective project management is bringing together multiple concepts of scope, budget, and schedule management to have a system’s view of a project. It is essential to not rely on a specific element as the sole source of your evaluation of a projects status.
For this week, consider the following metrics and some potential pitfalls from the sole use of the Earned Value Analysis figures provided below:
- SPI: 1.35
- CPI: 0.8
What other information is essential to providing a complete evaluation of project status?
Support your statements and conclusions using at least one of this week’s recommended readings and one outside reference (a peer-reviewed scholarly article published in the last five years, references not to include required or recommended reading assignments, or the textbook).
- Chapter 5 in Project Management Metrics, KPIs, and Dashboards: A Guide to Measuring and Monitoring Project Performance
- Chapter Sections 1.4, 1.5, 1.6, & 188.8.131.52 in the PMBOK® Guide
- Spitczok von Brisinski, N. (2014). Beyond earned value management: Do you assess a project’s team trust index? Project Management Institute. Retrieved from http://www.pmi.org/learning/library/earned-value-management-trust-index-8703
- Bergerud, C. (2015). Earned value management: Not just for government contracting anymore. Project Management Institute. Retrieved from http://www.pmi.org/learning/library/value-management-not-just-government-contract-9855
- Marques, G., Gourc, D., & Lauras, M. (2011). Multi-criteria performance analysis for decision making in project management. International Journal of Project Management, 29(8), 1057-1069. Retrieved from