Simplifying Earned Value Management — Part 2 — 12 Compliance Aspects of Planning, Scheduling, and Budgeting for EVMS projects

Short summary: In developing a plan for a project there are many considerations and constraints that require evaluation and attention. Among these are: resources, project stakeholders, technical execution, sequence of activities and their interdependencies, estimation of the time each activity will take using a risk based approach and other project variables that commonly occur on projects. Documenting this plan and establishing a baseline to measure future progress against is fundamental when apply an Earned Value Management System.

The basic elements of Planning, Scheduling and Budgeting within an application of an Earned Value Management System (EVMS) consist of the following.

1) Critical Path Method (CPM) Schedule

2) Milestones and Deliverables

3) Technical Performance Requirements (Contractual or otherwise)

4) Performance Measurement Baseline (PMB)

5) Risk Assessment and Mitigation

6) Control Accounts (CA) and Work Packages (WP)

7) Cost Elements

8) Contingency and Management Reserve (MR)