Earned Value Management System

An earned value management system can be established with TrackerSuite.Net modules, that organizations can use to more effectively track projects and forecast costs.

Earned Value Management (EVM) integrates measurements of scope, costs and schedules into a single system for the objective monitoring and review of a project's development. The benefits of establishing an Earned Value Management system include:

• Firmly defining the scope of a project, its purpose and objectives, thereby limiting potential scope creep.
• Improved communication of project progress to stakeholders.
• Providing a focus for the project team to help maintain steady progress.

TrackerSuite.Net, a Web Based Earned Value Management System

While an organization can establish a rudimentary Earned Value Management system for simple projects using spreadsheets, this approach is unsuitable for large, complex and costly projects. TrackerSuite.Net can be utilized as part of an Earned Value Management system for managing the project management process, and is capable of scaling from basic to more advanced implementations.

• It provides a structured environment for defining projects, work and terminal elements (tasks).
• Planned values can be assigned to work, based on allocated time and the cost rate of the assigned resource(s).
• It provides tools for scheduling work sequentially, prioritizing tasks as well as establishing dependencies and sub-tasks, which can be leveraged for developing critical paths.
• TrackerSuite.Net provides real-time reporting on work element status and completions, schedule and cost variances through its reporting engine, the Tracker Data Warehouse.