Question

What are the benefits to earned value managment in a project setting?

Answer 1

Earned Value Management is a management of all such expenses which have been incurred and it is regularly focused on comparison of actual with standard and it is used to find the the management of the value which had been generated by expenses which has been done by the management of some particular project.

it is also known as budgeted cost of work performed and advantages of earned value management are as follows-

A. It is an advanced version of the project tracking in which value generated in between of a project can be measured

B.it is also helpful in determination of the cost performance of an organisation in relation to its budgeted cost and finding out the variances.

C.it would be helpful in better Control Management strategy by comparison and it can adopt management of those variances in a better way.

D. It with always help the management in proactive decision making processes and formulation of adequate strategies.