Before we can start discussing the “How” we need to first workout the “What”. In the context of Benefits Realisation Management (BRM) what do we mean by the word “Measure” :-
A measure is a metric whose change in the desired direction helps to confirm that the related benefit or dis-benefit is being realised.
In other words a measure is the thing which will be tracked and monitored in order to establish when a benefit has been realised (for example the production cost value). It is not:-
- The actual value i.e. £ 3million
- The Target Improvement i.e. – 30%
- The means of measurement i.e. financial review
- The benefit i.e. reduced production costs.
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I have recently received emails from readers saying that they don’t understand how MSP Quality management works together with PRINCE 2 quality management. The overwhelming feeling seems to be that quality in PRINCE 2 and MSP are incompatible.
To sort this issue out one needs to go back to basics 
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Having been involved every month for a year interviewing programme managers for a major Indian consultancy it is surprising how many people with excellent CV’s seem unable to answer the above question (please see my project /programme management recruitment questionnaire) correctly.
So what is the correct answer to this seemingly elementary query?
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This post demystifies via a simple scenario the practical application of EVA. An ideal post to read for beginners to the subject.
If you are not sure what Earned Value Analysis is and why it is important then click on the following posts:-
Many Project Managers undertake earned value analysis everyday without realising it. For example a quick project performance health checks often compare the percentage of project time used against the percentage of budget spent. If they match then the project is supposed to be OK! The other unwitting use of EVA is the Budget vs. Actual performance indicator.
EVA is nothing new!
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If you are not sure what Earned Value Analysis is all about then please look at my earlier post “What is Earned Value Analysis”.
Currently EVA has most traction in the US. This is due to the fact that the main project management institute defining best practice in the states (the PMI) have EVA as a major part of their project management syllabus. It was therefore no surprise to me that my first encounter with EVA was with Accenture and that most excellent subsidiary of theirs Avanade. Avanade use EVA as a key project monitoring and control strategy for the timely delivery-to-budget of fixed price projects.
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