Explain why earned value management (EVM) is not frequently employed in cost control and project success monitoring, and speculate why. Can a cost performance index (CPI) or schedule performance index (SPI) be calculated using a few simple rules?

Explain why earned value management (EVM) is not frequently employed in cost control and project success monitoring, and speculate why. Can a cost performance index (CPI) or schedule performance index (SPI) be calculated using a few simple rules?

Information Technology Project Management

9th Edition

ISBN:9781337101356

Author:Kathy Schwalbe

Publisher:Kathy Schwalbe

Chapter7: Project Cost Management

Section: Chapter Questions

Problem 2QQ

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Concept explainers

Software cost estimation

In software engineering, cost estimation defines the calculation of the amount spent on software development and testing. This includes maintenance, managing, buying equipment, user requirement reviews, software, training, and servers. Many methods are developed to estimate the software project cost. Software cost estimation has a major impact on planning and managing a project. The software cost estimation has three estimates like project duration(time), effort(person-month), and cost(dollars).

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Justify the use of Earned Value Management (EVM) to control costs and monitor project progress, and hypothesis as to why it is not used more often. For example, what are some general rules of thumb for deciding whether or not a cost fluctuation, a schedule variation is positive or negative?
In order to control expenses and monitor project progress, explain why earned value management (EVM) is not used more often. What are some general rules for establishing if a cost variance, schedule variance, cost performance index, or schedule performance index is positive?
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