The discussion provided an overview of Earned Value Management (EVM) as a technique for tracking project progress and performance.
The explanation covered the calculation of key EVM metrics: planned cost, actual cost, earned value, and variances.
Practical examples illustrated how EVM provides a clearer picture of project status beyond simple spending vs. budget.
The conversation briefly touched on Agile context and suggested using a tool for EVM integration.
Action Items
(No specific action items were mentioned in the transcript.)
Earned Value Management Overview
EVM measures project performance by comparing planned cost, schedule, and scope to actual work performed and actual costs incurred.
Example: For a project with a $10,000 budget, 3-month timeline, and 100 hours of work, halfway through the schedule $4,000 is spent, and only 25% of work is completed.
Earned Value (EV) is calculated: EV = Planned Cost × (Completed Hours / Total Scope Hours). In the example, EV = $2,500.
Schedule variance and cost variance are used to measure if the project is on track in terms of budget and timeline.
EVM in Agile Methodologies
EVM concepts translate to Agile using tools like burnup charts and backlog tracking.
Monitoring variances early allows teams to adapt and take corrective actions before problems escalate.
Tool Recommendation
Integration of Agile EVM in Jira is suggested, with Tempo Budgets mentioned as a possible solution.
Decisions
No decisions were made — the discussion was informational and did not include decision points.