58 Section 3
Planning packages that delineate the scope, schedule, and budget (incrementally, cumulative to date, and at
completion) for specific future tasks within the control account; and
Estimates to complete, which should be time phased and may lead to an up-to-date representation of the total
expected funding needed (the estimate at completion [EAC]).
3.4.3 BUDGET VERSUS FUNDING
One of the key aspects of EVM is the specific terminology related to budget and funds. Budget is a work planning
element that is earned (i.e., the EV) when the corresponding work is completed. Funds (i.e., remaining funds) are
the amount of money that is available to accomplish the work. Often this is controlled by an organization’s work
authorization system, which allows the project manager to manage situations when full funding is not provided.
3.5 APPLYING EVM IN AN AGILE/HYBRID ENVIRONMENT
When using agile approaches, the need for an organization to achieve the benefit of managing sets of projects or
CAs in a coordinated manner is the same as using a plan-driven approach. All project teams should ensure that work
is aligned to key business objectives. It is important that management at all levels can see that the overall progress
is measured, risks are managed, and the wider view across the project is maintained.
As mentioned in Table A1-2 of the Agile Practice Guide for the Project Schedule Management Knowledge Area,
organizations are becoming aware that they do not need to adhere to a single methodology (e.g., predictive or
various forms of agile). This knowledge has led to the creation of hybrid concepts. The project manager in an agile
environment is responsible for managing and tracking the business, technical, and delivery aspects of the project
throughout its life cycle. In addition, the project manager provides high-level management direction and coordination
for planning, leading, organizing, and motivating the hybrid project teams. The agile project manager may also be
responsible for managing several concurrent high-visibility projects or CAs using a mixture of plan-driven and agile
approaches in a fast-paced environment that may cross multiple business divisions.

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