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Often there is discussion on why the EV needs to be matured and what are its benefits - tangible and as well as non tangible. I am making a small attempt to list some its benefits and keen to know your thoughts -
The benefits of improved EVM at enterprise or PMO level:
- Standardised processes for managing project performance on a programme
- Improves transparency and strategic reporting senior management through
dashboards
- Improved timeliness and quality of reports through streamlined reporting
- Improved standardisation and automation of reports resulting in reduced
costs for report production and improved employee job satisfaction for
project controls teams members
- Employee development of competencies
- Produces historical data that can be used for lessons learned and to
improve future estimating
- Produces man-hour utilisation and productivity statistics for HR
planning
- Improved compliance with corporate financial reporting requirements
- Provides valuable strategic and operational information for improved
decision making (high tangibility)
- Reduced costs and increased benefits through improved project and
program decision making (low tangibility)
- Reduced reporting cycle times
- Improved communication and standardised processes for project
estimating, planning, scheduling, cost control, contracts administration
and project accountants.
The benefits of improved EVM maturity at project level:
- Continuous feedback on project work progress and productivity
- Early identification of performance trends and root causes
- Improves transparency and reduces the risk of disputes between owner and
contractor
- Improves project forecasting, planning of key resources
- Produces historical data that can be used for lessons learned and to
improve future estimating
- Produces quantity statistics, man-hour statistics and other data that
can be used by other functions such as safety
Thanks for reading.
Anil Godhawale
Managing Director, Projcon Group
