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Interfacing Risk and Earned Value Management
November 2008
Risk and Earned Value Management have traditionally been viewed by practitioners as totally separate processes and compartmentalised into their discrete skill elements. A new guide from the Association of Project Management (APM), "Interfacing Risk and Earned Value Management", sets out to dispel the myths that surround these disciplines and examines how they can be jointly exploited to enhance the project planning process.
The guide, which has been written by an APM working group including Val Jonas, CEO of Risk Decisions Group, examines the benefits that can be derived from interfacing Risk and Earned Value Management best practice – the most important of which is the delivery of improved project control that result in more successful outcomes. It presents practitioners with practical steps to follow from establishing the project baseline through to baseline change, analysis and decision making. It also shows how data captured by each process can be more effectively utilised and helps identify where common or synergistic processes may exist. Also discussed are the cultural issues that come into play when interfacing Risk and Earned Value Management processes. Gaining buy-in at every level of an organisation from the top down is crucial to the successful interfacing of these two project management disciplines. Risk Management and Earned Value Management practitioners must also understand their individual roles, interfaces and responsibilities in improving the project management process. Published by the Association for Project Management, the guide costs £10 (£9.00 for APM members) and can be ordered by calling 01767 604951 or emailing custserv@turpin-distribution.com. The guide is also available as a PDF download on the members area of the APM website.
