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On December 17, 1903, Orville and Wilbur Wright made the first successful powered airplane flight. It was quite an amazing accomplishment, but I don’t believe it would have been possible if they were working in today’s business world. The problem would have been the drive for perfection. It would have started something like this…
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Thursday, 25 January 2007 20:56

Cost Performance Measurements

Earned Value - Earned value management is a project management technique for estimating how a project is doing in terms of its budget and schedule. It compares the work finished so far with the estimates made in the beginning of the project. This gives a measure of how far the project is from completion. Through EV the project manager can get an estimate on how much resources the project will have used at completion. “Earned Value Analysis” is an industry standard way to measure a project’s progress, forecast its completion date and final cost and provide schedule and budget variances along the way. By integrating three measurements, it provides consistent, numerical indicators with which you can evaluate and compare projects.

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