Develop a comprehensive earned value analysis report.
This portfolio work project, an earned value management analysis, is based on your selected business or IT project. You may choose to base your assessment on the Revive LLC case study for the development of a new online employee orientation module, or you may continue to use a company of your choice. Both human resource (HR) and information technology (IT) employees, as well as contractors, will be utilized in this project.
Earned value (EV) is defined “the measure of work performed expressed in terms of the budget authorized for that work” (Project Management Institute, 2021, p. 275).
Project managers examine cost control, tools, and techniques that define the procedures by which the cost baseline may be changed. They engage in performance measurement to assess the magnitude of variations that occur during project execution. EVM is used to measure project performance by comparing certain predefined variables. Microsoft Project is a tool used to track planned cost versus actual cost, calculate the earned value, and forecast the effects of some cost changes.
Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Seventh Edition and The Standard for Project Management. Newtown Square. PA. 2021.
For this assessment, choose either Option A or Option B. You do not need to do both. Both options will be graded using the same scoring guide.
Option A: Project Revive LLC is a consulting firm of highly charged and accomplished project managers whose main stream of revenue comes from managing the turnaround of failing projects. As a consultant with Project Revive LLC you will study, analyze, and manage a failed project from NearlyFree.com. NearlyFree.com is a fictitious company and the project documents for NearlyFree.com project scenario are linked below. The NearlyFree.com project was originally scoped to develop and deploy an automated web-based training system for new employees to reduce the workload and cut down personnel resources required to complete the new employee orientation (NEO) training.
As a veteran member of the Project Revive team, you already know the value of continually examining performance throughout a project to further define and update project data. Special attention to documenting and identifying problems is required in time to make appropriate adjustments. The earned value management (EVM) technique is often used in this type of analysis. Continue your analysis of the failed project by applying the EVM technique to examine performance based on what was accomplished.
Option A Resources:
Option B: You may choose a business of your own. It must include (but is not limited to) the following criteria:
For both Option A or B, you are the project manager.
Microsoft Project is the recommended software tool for this course due to its wide industry acceptance and its use in many project management professional roles. To make this easier, you have the ability to download and install your own version of MS Project for use in this course. See the Software Preparation and Technology Access activity in Assessment 1 for more information.
Practice using MS Project in this course will prepare you for future professional PM roles and responsibilities; please use MS Project for those tasks supported by MS Project. If you have access to other tools such as MS Visio, MS PowerPoint, MS Word, or other project management software that you believe may still meet the requirements of this course, please discuss your selected alternative with faculty.
Use the PMBOK® Guide as the model for developing the deliverables.
Deliverable: Develop an Earned Value Analysis report of the current failed project.
Complete the following:
Address the following topics. Where necessary, define assumptions you made.
Use the MS Project functionality (or another software program) to:
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
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