Tracking Project Progress

You’ve asked:
How can we prevent cost overruns?

Earned value analysis – EVA – is the most effective way to keep a project on track and avoid nasty surprises. Yet few design professionals understand how to use the method, and often don’t have the tools. The PM Essentials program gives participants both in a highly focused workshop exercise.

Applying EVA techniques tells your team, and you, exactly where the project is financially, and to schedule, by comparing work completed against money and time expended. It is the easiest and most accurate way of keeping projects on track. EVA begins with getting the Work Breakdown Structure – WBS – right before writing the fee proposal.

EVA methodology is available on some practice management systems, but not all.

If you have a practice management system that can’t do EVA, you can easily use PSMJ’s PlanTrax tool alongside your system to track progress – it only requires the logging of one number per week or month to run a report.

The PM Essentials program includes a comprehensive workshop exercise in setting up and using EVA.

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