Using earned value management indexes as a team development factor and a compensation tool

Building a project-appropriate project team is a project in itself, one that involves planning, acquisition, and execution, including team development. This paper examines an index for evaluating project teams in relation to earned value management (EVM), an index that enables project managers to gauge project performance in relation to EVM’s three key elements--budgeted cost of work planned, budgeted cost of work completed, and actual cost of performed. It defines the three areas of project human resources management that project managers can analyze with EVM. It also identifies three factors impeding project team performance and describes five types of project performance-related compensation and reward packages. It then examines project team performance in relation to EVM and outlines an index called human performance index (HPI), one comprising the performance indexes for cost (CPI) and schedule (SPI). It demonstrates HPI’s capabilities by using it to evaluate a hypothetical project consisting of twenty d
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