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Earned Value Project Management, 3rd Edition, by Quentin W. Fleming, Joel M. Koppelman
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"Earned value" is a project management technique that is emerging as a valuable tool in the management of all projects, including and, in particular, software projects. In its most simple form, earned value equates to fundamental project management.
This is not a new book, but rather it is an updated book. Authors Quentin Fleming and Joel Koppelman have made some important additions. In many cases, there will be no changes to a given section. But in other sections, the authors have made substantial revisions to what they had described in the first edition.
Fleming and Koppelman’s goal remains the same with this update: describe earned value project management in its most fundamental form, for application to all projects, of any size or complexity. Writing in an easy-to-read, friendly, and humorous style characteristic of the best teachers, Fleming and Koppelman have identified the minimum requirements that they feel are necessary to use earned value as a simple tool for project managers. They have also witnessed the use of simple earned value on software projects, and find it particularly exciting. Realistically, a Cost Performance Index (CPI) is the same whether the project is a multibillion-dollar high-technology project, or a simple one hundred thousand-dollar software project. A CPI is a CPI … period. It is a solid metric that reflects the health of the project.
In every chapter, Fleming and Koppelman stick with using simple stories to define their central concept. Their project examples range from peeling potatoes to building a house. Examples are in round numbers, and most formulas get no more complicated than one number divided by another.
Earned Value Project Management—Second Edition may be the best-written, most easily understood project management book on the market today. Project managers will welcome this fresh translation of jargon into ordinary English. The authors have mastered a unique "early-warning" signal of impending cost problems in time for the project manager to react.
- Sales Rank: #683106 in Books
- Brand: Brand: Project Management Institute
- Published on: 2006-06-30
- Original language: English
- Number of items: 1
- Dimensions: .52" h x 7.04" w x 9.98" l, .95 pounds
- Binding: Paperback
- 232 pages
- Used Book in Good Condition
About the Author
Quentin W. Fleming is principal of Fleming Management Consultancy in Tustin, California, USA. Joel M. Koppelman, is CEO of Primavera Systems, Inc., a major software developer in the project management industry.
Most helpful customer reviews
4 of 4 people found the following review helpful.
EV - Great for the RIGHT situation
By Todd Shyres
Earned Value is a great Project Management tool when the situation is right.
In my mind, the "right" situation is where you work for a large company where the deliverables are WELL defined in terms of monetary value and the expected duration of the work. In these cases EV can be really useful for keeping track of your work and budget status as well as forecasting.
This book does a great job of explaining what EV is and how to use it effectively. One point that I felt it does not cover well is defining how you get your "EV." This is actually a very straightforward process that I felt the author should have spent at least a few paragraphs on.
Overall...If I was building a plane...say with a budget of $10 million and had 2.5 years to build it in; then I would definitely use EV and this book as a reference guide.
Todd Shyres, PMP, CISSP
3 of 3 people found the following review helpful.
One of the best books on Earned Value!
By Marcel Chiranov
The reader that is familiar with Project Management Institute books will find it extremely useful and connected to real life. Presents Earned Value definition and how is possible to organize your projects based on Earned Value principles. If you're interested to have results oriented projects, or if you're interested in project performance, or project monitoring, this book is really helpful. I highly reccomend you to read and use it. If you like "not so academic" books, you might find it a little bit too condensed, and probably you'll need to search for something else. Microsoft Projects offers very good definitions of Earned Value, Cost Performance Index and Schedule Performance Index that you might learn as first steps.
34 of 36 people found the following review helpful.
Where is the rest?
By Amazon Customer
So far I have found two books dedicated to the topic of earned value: this book by Fleming and Koppelman and another book entitled `Using Earned Value' by Alan Webb. Note that I am not listing the earned value `Cliff notes' entitled `Project Management: The Commonsense Approach" by the Lamberts, which will not add to your understanding of earned value management or analysis, and serves, at best, as a memory jogger on the basic concepts.
"Earned Value Project Management, Second Edition" by Fleming and Koppelman provides a good treatment of the history of earned value and of the calculation methods of its core measurements. However the book falls short in terms of methods of analysis and interpretation of these measurements, which is really where project managers need guidance and expertise. Indeed calculations are automated by the scheduling packages (e.g. Microsoft Project, Primavera, etc.), in other words getting the numbers is never the problem (although some packages have had their share of problems doing this), or let's just say it's the easy part. Obviously one needs to understand how the numbers are calculated and what they mean but this part of earned value does not require a whole book about it. The true challenge in earned value management is the analysis part. Once you have the numbers, you need to understand what they mean to your project, how they trend, how they relate/influence one another and most importantly how you should use them in gauging the health of your project. This information then needs to be translated in either corrective actions (which are hopefully proportional to the problem at hand) or inaction (provided that you have made the conscious decision, based on the data, to keep things as they are). I believe that this is where this book falls short. It gives the reader an understanding of the concepts but lacks in the guidance that is required for a true, practical, and day-to-day application of earned value on projects. In another words, it's a good start but not quite enough.
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