Earned value is a project reporting tool which provides a comprehensive view of project status, however it is not widely used. Describe five advantages / disadvantages of using earned value management in your project.
Exam Tip each of the five advantages / disadvantages should the a short paragraph of two or three sentences. For example the first of the five might say something like.
1) Earned value provides a way of tracking the plan, expenditure and progress in one integrated framework. Earned Value Management used a common currency (most often money) to measure the planned progress (and expenditure), the Actual Cost from the finance system and actual progress from estimates of percentage complete to give a combined view of these three critical performance measures. As such it provided on of the most comprehensive ways of monitoring project performance.