You will calculate Earned Value Management (EVM) attributes from provided data about the R&D project and make decisions to bring the project back on track, including applying cost containment strategies and solving a make-vs-buy scenario.
Earned Value Management provides a comprehensive, objective, and early assessment of project performance. By integrating key project variables, EVM can enhance decision-making, improve forecasting, and support proactive management. Cost containment and compression techniques that are informed by EVM and the project plan can help to rescue a troubled project.
The case study is the last about Theta Corporation and its R&D project to design and deliver a new medical device. In this part of the case study, you will explore EVM and use the data to assess the status of the project and then make decisions on how to get the project back on budget and schedule (if possible). The case study requires you to examine the information in the case study and make EVM calculations. It also requires you to make decisions on how to go forward. Your observations and responses to the prompts should be entered into your clearly labeled response Word document that will be submitted for this assignment. In your responses to prompts, strive to be concise, but fully answer the questions posed and provide evidence/support. While responses can vary, aim for at least 300 words in response to each prompt.
The purpose of this case study is to give you an opportunity to apply EVM metrics to monitor project performance and make informed decisions on how to control costs, compress schedules, and ensure project success.
To complete this work, execute the following steps:
- Read the attached Case Study Information and Prompts document. One of the prompts requires you to fill in entries in the attached EVM Calculation Template.
a. Case Study Information and Prompts.docx
b. EVM Calculation Template.docx
- Respond to the prompts in a Word document.
Submission Details:
Submit both your (clearly labeled with prompt numbers) Word document AND your edited EVM Calculation Template document