Chapter 14: Using Earned Value Management in Software (Yahoo web space)
Chapter 14: Using Earned Value Management in Software Projects 283 If you studied or read a version of the Guide to the Project Management Body of Knowledge (PMBOK) that was published prior to the year 2000, you may have seen different terms for these formulas. Since 2000, the PMBOK has updated its terminology, as you can see in Table 14-1. Table 14-1 Earned Value Terms, Then and Now This Is the Current Formula This Is the Old-School Formula Planned value (PV) Budgeted Cost of Work Scheduled (BCWS) Actual cost (AC) Actual Cost of Work Performed (ACWP) Earned value (EV) Budgeted Cost of Work Performed (BCWP) Calculating EV doesn t solve all your project s problems. This analysis won t solve all of your cost and scheduling issues and it won t take a disastrous project and turn it into a gold-standard project. It is simply a way of measuring your project s performance at a certain point in time; you can use the results of the earned value analysis to find the root cause of your cost or schedule variances so that you can decide if these need corrective action. Determining a project s worth Many project managers say that a project is worth nothing until it creates something; a software project takes on value when it adds value to your stakeholders. Well, that s only partially true. Your project is always worth something. From the first second you invest time and money in your project, it has value because of that investment. Even if your project fails, its worth can be determined by other factors: How much the team and other future teams learn from the mistakes made or opportunities that arose: (Information about lessons learned documentation is available in Chapter 17.) How much you can use the code in future projects: You may be able to take parts of the code that did not work in this project and pour them into another software project, thus saving time and resources on the new project. How much you can make by selling the salvageable parts of your project: You can take the parts of the code that didn t work, sell them to another organization, and then use that money to fund more viable software projects at your own firm. But when discussing worth or value of a software project, in this instance we are talking about the value you get from a project compared to what you put
Searching for affordable and reliable webhost to host and run your web applications? Go to our java web server services and you will be pleased.