Question on EVM methods...
Ref. for question below is pmi.org (sample questions):
Please advise any ref.to EVM evaluation methods as per question below. I have not located the terms below in PMBOK or any other prep book and the fact that this questions appears as a representable one for exams surprises me...!!!
Thanks in advance for any replies.
Cheers and Bye / George
You are employing Earned Value Management on your project. You wish to avoid the subjective determination of performance as reported by the work package owners in your weekly status meetings. The following table describes three of your work packages:
|
Work Package
|
Description of the Work
|
Estimated Duration
|
|
2.2.1
|
Create RFP for subcomponent parts
|
4 weeks
|
|
2.2.3
|
Purchase subcomponent parts
|
2 weeks
|
|
2.2.5
|
Assemble subcomponent
|
3 weeks
|
Which of the following methods of measuring earned value works BEST for work package 2.2.1?
- A. Fixed formula
- B. Weighted milestones
- C. Percent complete
- D. Equivalent completed units
The ______________ evaluation method works
BEST for work package 2.2.3.
- A. Fixed formula
- B. Weighted milestones
- C. Percent complete
- D. Equivalent completed units
vkajith
Wed, 12/31/2008 - 10:34
Permalink
Not Sure
Generally work packages are monitored on Percentage Complete Basis.
But for 2.2.3 since it is a Purchase, it will be difficult to show the percentage complete, unless it is subdivided further smaller components.
Other opinions are welcome
Wishing all of you a Happy New Year
Ajith
roblis
Tue, 02/10/2009 - 18:16
Permalink
This question is telling
This question is telling you to find the best way to measure completness of workpackages. If you rely always on % complete, you probably be surprise how fast your resource reaches 90% and how large the last 10% will be!
The first one, I would use percent complete, cause it's a document and it can't be divided. As the PM propably will have to fill it, you won't want to deceive yourself right?
The second one, I would use weighted milestones. The act of buying is a single one, but you may expect the subcomponents to be delivered in parts (the WBS above is assuming that delivery is part of purchasing). So, you can use milestones to measure how much of the workpackage is missing. As you may have subparts in more quantity or importance than others, you must weight each milestone according to what are you expecting to receive.
The last workpackage I would use equivalent completed units. You know how much subcomponents you're going to assemble, and it's probably easy to look how many are ready over the total to kknow how much is completed.