This portfolio work project, an earned value management analysis, is based on your selected business or IT project. You may base your assessment on the Revive LLC case study for the development of a new online employee orientation module. Both human resource (HR) and information technology (IT) employees, as well as contractors, will be utilized in this project.
Earned value management (EVM) is defined “as a methodology that combines scope, schedule and resource management to assess project performance and progress” (Project Management Institute, 2017, p. 705).
Project managers examine cost control, tools, and techniques that define the procedures by which the cost baseline may be changed. They engage in performance measurement to assess the magnitude of variations that occur during project execution. EVM is used to measure project performance by comparing certain predefined variables. Microsoft Project is a tool used to track planned cost versus actual cost, calculate the earned value, and forecast the effects of some cost changes.