What is the value management system?

The value management system, commonly called EVM, is a method used to measure and plan work costs and progress of the project. This type of system is usually used to manage projects in production and production. The steps carried out in this type of system include budgeting and tracking work, measurement of the performance of workers and identifying and implementing steps to solve recurring problems in the system. The value management system helps to identify the actual work used to complete the project versus the expected amount of work for the project and identifies the costs of this work. Many government funding organizations require data from the system of earned values ​​to be qualified for financing. Costs can be in dollars or working hours. This system helps to identify excessive budget overwhelming because it distributes budgetary costs of milestones that can be explored at different points in the project. Project managers often place these milestones on the time line and truthThey control budget and expenditure, often, often a week or monthly to determine the progress of the project. After determining the estimated costs, the project manager will begin to collect project progress and work used to complete each phase.

6 also provides project manager with current information about the project budget and progress. Without expenditure on expenditure on expenditure expenditure, the project manager can find out too late that the project is hopelessly late or over its budget. When this type of situation is captured early, repairs can be made during the following phases of the project to help balance the deficit AA Avoid costly delay. This type of system can also help indicate the project manager that the project is running behind the plan.

In addition to managing the project budget, the value management system can also help determine whether project staff perform, as expected. CanPutting traces of which part of the project were more difficult and lengthy than expected. After completing the project, this data manager can make the project manager more accurately future forecasts on work requirements for a similar project phase. This type of data can also help identify and solve productivity problems in the working team.