Earned Value can be a tricky concept. As we see in a blog post from industry expert Glen B. Alleman, there is a right way and a wrong way to deal with Earned Value, and even those who have been in business for years confuse the two. Alleman compiled eight ways to do Earned Value successfully. These include collecting the actual costs to perform the work and computing cost and schedule variance. Alleman notes that some of these steps need to be repeated after all steps have been completed once.
When dealing with Earned Value, it is crucial to look to the experts for answers. Alleman notes that the internet is filled with students and non-experts spouting information that they have heard on the topic with little regard for whether or not the industry considers what they are saying to be true. Remember, when making sure your organization fully understands a concept, you must seek out someone who truly knows what they are talking about.