A Practical Guide to Earned Value Project Management, 2nd Edition
by Charles I. Budd, Charlene M. Budd
PART IV
Project Status
“Unless the PM understands the organizational accounting system, there is no way to exercise budgetary control over the project.”
–Meredith and Mantel (2003, 338)
As previously noted, EVMS was developed from a standard cost model. Because of this close association, many if not most of the deficiencies of traditional standard cost systems also attach to EVMS. Nonetheless, accounting metrics play a large role in EVMS and the formal 32 criteria requirements. Our intent is to make the material clear and understandable for managers with little or no accounting training or background.
The first 15 criteria discussed in earlier chapters specify planning requirements for detailing elements of the project objectives, the organization, ...
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