QSO 420 Final Project Guidelines and Rubric
Overview In the early days of project management, the control of project cost and project schedule were considered to be separate activities. If the reported project costs remained below the planned budget and the reported project progress remained on or ahead of schedule, then the project was considered to be on track. The shortcoming of this approach is that if the project costs were below budget, it could indicate that the planned work is not being accomplished at the necessary rate. To address this potential shortcoming, an integrated method of controlling and reporting budget and schedule was needed.
Earned value management (EVM) was developed in response to the need to integrate the control and reporting of project cost and schedule. EVM techniques have been codified by the American National Standards Institute into a published standard. The Project Management Institute has developed a practice standard for earned value management that serves as a complement to its Project Management Body of Knowledge (PMBOK) guide. The use of EVM is often mandated in procurements issued by the U.S. government and has become more common in private industry.
The state of a project is assessed using earned value measurement (EVM) measures and supporting project documentation. The results of such an assessment are typically compiled in a report written for the project manager that summarizes the state of the project and identifies areas in which performance is currently or potentiall
y deficient.
For this summative assessment, you will create a presentation for a project manager based on a case study that reports the projectβs performance, including any current or potential deficiencies that you have identified, as well as your recommendations for improving project performance.
The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three, Four, and Five. The final product will be submitted in Module Seven.
In this assignment, you will demonstrate your mastery of the following course outcomes:
ο· QSO-420-01 Analyze project documentation for data needed in determining earned value management parameters
ο· QSO-420-02 Employ fundamental earned value management equations in calculating cost and schedule variance statistics
ο· QSO-420-03 Assess earned value management principles for their effectiveness in achieving integrated cost and schedule control
ο· QSO-420-04 Appraise project performance through interpretation of earned value management statistics for informing project decision making
Prompt The state of a project is assessed using earned value measurement (EVM) measures and supporting project documentation. The results of such an assessment are typically compiled in a report written for the project manager that summarizes the state of the project and identifies areas in which performance is currently or potentially deficient.