Added value

As more companies turn to project management to implement key strategies, many executives are turning to earned value management (EVM) to calculate the return of organizational investments in practicing project management. Unfortunately, many executives are getting lost in the data produced from these calculations and cannot discern the real value that project management is generating. This article explains how organizations can most effectively use EVM. In doing so, it discusses the commitments that are necessary for implementing an EVM approach; it notes the approach's shortcomings and limitations. It also describes how organizations can introduce EVM. It then overviews how HSBC Technology Services Europe (Sheffield, UK) initiated and developed an EVM approach, identifying the effort's key challenges and listing the three crucial factors which influenced its outcome. Accompanying this article are two sidebars: The first suggests an orientation to evaluating the information that EVM calculations produce; the
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