Question

W5A1

Maintaining and Controlling Projects

Respond to the following questions:

-How does EVM operationalize or put into practice the management of trade-offs implied by the triple constraint discussed since the beginning of the course? Does it allow a balanced appraisal of all three parameters? Why or why not?

-EVM has become especially popular as a mandatory contractual reporting methodology between contractors and vendors in very large projects. But it has come under attack in some circles. What would the two sides of the argument be?

PS: Please respond in a very thorough manner AND PLEASE PLEASE PLEASE be sure that the answer is not just copy and pasted from a chegg post that has already been answered and used PREVIOUSLY. Thank you.

Answer 1

How does EVM operationalize or put into practice the management of trade-offs implied by the triple constraint discussed since the beginning of the course? Does it allow a balanced appraisal of all three parameters? Why or why not?

Triple constraint has a specific relation with the deliverable or scope, budget, cost or a specific deadline all time. There are many trade off involved if something me change in respective environment. If deadline is changed or moved up for reaching aftermarket then the cost of hiring a specific people would go up as well as it would need more people to finish the project on time. If the notice of material availability is shorter than the materials can cost more at a shorter notice. If the scope is changed then it would definitely affect the overall time completion of a project and the cost of the specific project and the specified deliverables could also go up. If the deliverables are changed then the the project would be more complicated. Earned value management directly focuses on the time and cost and does not specifically required to address quality, risk or opportunity so in this condition in the earned value management is the trade off. In this condition has been traded of the importance of the budget and the deadline which is not creating an alignment with the balance appraisal of all three because of the specific trade off between them.

P.S.- please use separate friends to ask more than one question at a time.