Using Earned Value Management Pmbok Section

When I teach a PMP Boot Camp, attendees snap to attention when it comes to earned value management and their exam. This topic is foreign to many folks, and they understandably want an in-depth explanation of this suite of mysterious formulas. Maybe you find yourself in that same position, so here's some good news: it's not that big of a deal. Relax—you can memorize these formulas, answer the exam questions correctly, and worry about tougher exam topics. I'll show you how.

Figure 7-5

A cost change control system examines all cost changes.

Cost change

Cost change request

Has cost change already occurred?

Tracking system

Tracking system

Cost change approved?

Documentation:

Cause Cost

Parties involved Decision

Yes

No

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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