Planned Value and Earned value management Freelance Ready Assessment (Publication Date: 2024/03)

$377.00

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Description

Our comprehensive Freelance Ready Assessment contains 1516 prioritized requirements, solutions, benefits, results, and case studies/use cases relating to Planned Value in Earned value management.

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Discover Insights, Make Informed Decisions, and Stay Ahead of the Curve:

  • Do you clearly articulate how each planned change will relate to the way your organization creates value?
  • Are there any actions planned by the authorities and/or your organization to address issues satisfactorily and to achieve regulatory compliance?
  • Have you planned how to communicate your value in formats that meet your audiences needs?
  • Key Features:

    • Comprehensive set of 1516 prioritized Planned Value requirements.
    • Extensive coverage of 109 Planned Value topic scopes.
    • In-depth analysis of 109 Planned Value step-by-step solutions, benefits, BHAGs.
    • Detailed examination of 109 Planned Value case studies and use cases.

    • Digital download upon purchase.
    • Enjoy lifetime document updates included with your purchase.
    • Benefit from a fully editable and customizable Excel format.
    • Trusted and utilized by over 10,000 organizations.

    • Covering: Organizational Structure, Project Success, Team Development, Earned Schedule, Scope Verification, Baseline Assessment, Reporting Process, Resource Management, Contract Compliance, Customer Value Management, Work Performance Data, Project Review, Transition Management, Project Management Software, Agile Practices, Actual Cost, Work Package, Earned Value Management System, Supplier Performance, Progress Tracking, Schedule Performance Index, Procurement Management, Cost Deviation Analysis, Project Objectives, Project Audit, Baseline Calculation, Project Scope Changes, Control Implementation, Performance Improvement, Incentive Contracts, Conflict Resolution, Resource Allocation, Earned Benefit, Planning Accuracy, Team Productivity, Earned Value Analysis, Risk Response, Progress Monitoring, Resource Monitoring, Performance Indices, Planned Value, Performance Goals, Change Management, Contract Management, Variance Identification, Project Control, Performance Evaluation, Performance Measurement, Team Collaboration, Progress Reporting, Data mining, Management Techniques, Cost Forecasting, Variance Reporting, Budget At Completion, Continuous Improvement, Executed Work, Quality Control, Schedule Forecasting, Risk Management, Cost Breakdown Structure, Verification Process, Scope Definition, Forecasting Accuracy, Schedule Control, Organizational Procedures, Project Leadership, Project Tracking, Cost Control, Corrective Actions, Data Integrity, Quality Management, Milestone Analysis, Change Control, Project Planning, Cost Variance, Scope Creep, Statistical Analysis, Schedule Delays, Cost Management, Schedule Baseline, Project Performance, Lessons Learned, Project Management Tools, Integrative Management, Work Breakdown Structure, Cost Estimate, Client Expectations, Communication Strategy, Variance Analysis, Quality Assurance, Cost Reconciliation, Issue Resolution, Contractor Performance, Risk Mitigation, Project Documentation, Project Closure, Performance Metrics, Lessons Implementation, Schedule Variance, Variance Threshold, Data Analysis, Earned value management, Variation Analysis, Estimate To Complete, Stakeholder Engagement, Decision Making, Cost Performance Index, Budgeted Cost

    Planned Value Assessment Freelance Ready Assessment – Utilization, Solutions, Advantages, BHAG (Big Hairy Audacious Goal):


    Planned Value

    The planned value is the expected benefit or worth that will be obtained from each proposed change and how it aligns with the organization′s overall value creation.

    – Yes, by using the Earned Value Management technique, we can track the value of each planned change and its impact on the organization′s overall success.
    – This allows us to prioritize changes based on their potential value and make informed decisions on their implementation.
    – By clearly articulating the relationship between planned changes and value creation, stakeholders can better understand the benefits and potential risks of each change.
    – This can help in getting buy-in from stakeholders and ensuring their support for the proposed changes.
    – Additionally, it helps us measure the actual value created through the changes and compare it with the planned value, enabling us to identify and address any discrepancies.
    – Overall, incorporating planned value in the Earned Value Management system provides a structured approach to track and manage the impact of changes on value creation.

    CONTROL QUESTION: Do you clearly articulate how each planned change will relate to the way the organization creates value?

    Big Hairy Audacious Goal (BHAG) for 10 years from now:

    My big hairy audacious goal for Planned Value 10 years from now is to create a highly efficient and successful organization that utilizes cutting-edge technology, innovative strategies, and a strong focus on customer satisfaction to generate maximum value for its stakeholders.

    I recognize that to achieve this goal, a number of planned changes must be implemented within the organization. Each of these changes will directly contribute to the way the organization creates value.

    Firstly, we will invest in state-of-the-art technology and data analytics tools to streamline our processes and improve decision-making. This will not only increase our efficiency and productivity but also help us identify actionable insights that can drive growth and improve customer experience.

    Secondly, we will implement a sustainable and environmentally responsible approach in all aspects of our operations. By minimizing waste and maximizing resource efficiency, we will reduce our carbon footprint and contribute to a cleaner and healthier planet. This will not only align with our company′s values and responsibilities towards the environment but also attract environmentally-conscious customers and investors, adding value to our brand.

    Thirdly, we will prioritize employee well-being and development by implementing comprehensive training programs, fostering a positive work culture, and providing opportunities for career growth. This will lead to a highly motivated and engaged workforce, resulting in higher productivity, better customer service, and ultimately, increased value creation.

    In addition to these internal changes, we will also focus on building strong partnerships and collaborations with other organizations in the industry. By leveraging each other′s strengths and resources, we can create mutually beneficial opportunities and collectively generate more value for our stakeholders.

    Overall, every planned change within the organization will be carefully evaluated and aligned with our goal of maximizing value creation. We will constantly monitor and measure our progress towards this goal, regularly reviewing and adjusting our strategies to ensure we stay on track towards achieving our Big Hairy Audacious Goal for Planned Value.

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    Planned Value Case Study/Use Case example – How to use:

    Case Study: Planned Value and its Impact on Creating Organizational Value

    Client Situation:
    ABC Corporation is a multinational conglomerate with operations in various industries including technology, healthcare, and manufacturing. Over the years, the organization has undergone multiple changes due to mergers and acquisitions, expansion into new markets, and shifting consumer demands. These changes have affected the company′s overall value creation and led to a lack of clarity in aligning organizational objectives with planned changes. As a result, ABC Corporation has experienced challenges in maximizing its potential for growth, profitability, and sustainability.

    Consulting Methodology:
    After an initial assessment of the client′s situation, our consulting team proposed the implementation of the Planned Value (PV) methodology to align organizational goals with planned changes. PV is a project management tool that estimates the value of a project and helps in monitoring and controlling the project′s performance. The methodology involves the development of a project baseline that outlines the cost and schedule of each planned change and tracks deviations from the baseline to ensure successful project completion.

    Deliverables:
    1. Project Baseline: Our team worked closely with the various departments within ABC Corporation to identify all planned changes and their associated costs, timelines, and resources required. This information was used to create a project baseline that served as a reference point throughout the implementation process.

    2. Key Performance Indicators (KPIs): As part of the PV methodology, we identified specific KPIs to measure the impact of planned changes on organizational value creation. These KPIs included financial indicators such as return on investment, profitability, and revenue growth, as well as non-financial indicators such as customer satisfaction, employee engagement, and brand reputation.

    3. Change Management Plan: Our team also developed a comprehensive change management plan to communicate the planned changes to all stakeholders, outline their roles and responsibilities, and address any potential resistance to change.

    Implementation Challenges:
    While implementing the PV methodology, our team encountered several challenges, including resistance from certain departments to share information on planned changes and their associated costs, and the need for significant changes in the organization′s culture and decision-making processes. To address these challenges, we focused on building trust and buy-in from stakeholders and provided training sessions to ensure a clear understanding of the PV methodology and its benefits.

    KPIs:
    The implementation of the PV methodology resulted in significant improvements in ABC Corporation′s value creation. Some of the key KPIs that demonstrated the success of this approach are:

    1. Return on Investment (ROI): The use of PV methodology led to a more strategic allocation of resources towards high-value projects. As a result, ABC Corporation′s ROI improved by 15% within the first year of implementation.

    2. Customer Satisfaction: By aligning planned changes with customer needs and preferences, ABC Corporation saw an increase in customer satisfaction by 20%.

    3. Brand Reputation: By clearly articulating the value proposition of each planned change, ABC Corporation was able to enhance its brand reputation and increase market share.

    Management Considerations:
    To sustain the benefits of PV methodology, our team recommended the following management considerations:

    1. Continuous Monitoring and Adaptation: As markets and consumer demands continue to evolve, ABC Corporation needs to continuously monitor and adapt its planned changes to ensure they align with the organization′s overall objectives.

    2. Open Communication: To ensure successful implementation of PV methodology, there needs to be open and transparent communication between all departments and stakeholders.

    3. Training and Development: Investing in training and development programs for employees on the PV methodology and change management will help build a culture of continuous improvement and innovation within the organization.

    Conclusion:
    The implementation of PV methodology helped ABC Corporation in clearly articulating the value of each planned change and aligning them with organizational objectives. This approach not only resulted in improved financial performance but also enhanced customer satisfaction and brand reputation. By continuously monitoring and adapting their planned changes, ABC Corporation can sustain the benefits of PV methodology and drive value creation for years to come.

    Citations:
    1. Project Management Institute. (2012). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition. Retrieved from https://www.pmi.org/pmbok-guide-standards/fifth-edition

    2. Forrester Consulting. (2016). The Total Economic Impact Of The Project Management Office Strategic Plan, 2016. Retrieved from https://resources-workfront-com.s3.amazonaws.com/pdf-documents/TEI-of-a-PMO-strategic-plan-benchmark-study.pdf

    3. van der Voort, H. (2015). Change Management Methodology: A Balancing Act. Journal of Change Management, 15(2), 110-129.

    4. Ching-hsun Chang and Ming-lung Tseng. (2015). The Relationship among Planned Change, Organizational Culture, and Innovation Performance: Case Study of Jguan Company. International Journal of Innovation and Economic Development, 1(2), 39-52.

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