In this module, you’ll practice sophisticated techniques for tracking your project status and performing earned value analysis. They will target areas for getting the project back on track in terms of duration and cost. You’ll learn to enter your weekly status data and then look at different earned value metrics to analyze the project situation and identify problems. After you have identified the issues, you’ll learn how to use earned value and variance data analysis to document the consequences.
You’ll practice developing different Microsoft Project® plans for corrective action. Then you’ll use the software to model the requirements, costs, additional resources and schedule impact of the corrective action you propose.
What Happens if I Don’t Use Earned Value?
If you don’t analyze the project’s earned value statistics, you run the risk of focusing your corrective action on tasks that really don’t need it or ignoring tasks that could benefit from corrective action. You won’t be able to identify future trends in cost and schedule variances and you won’t know how much over/under budget and schedule you will be at the end of the project.
There is 1 lecture video below.