Is Poor Project Management a Crime?
CEOs, CFOs and project managers all share legal accountability for poor project management and incorrectly forecasted projects. To comply with Sarbanes-Oxley, Basel II, and Ontario Bill 198, businesses need to be forthcoming with shareholders. EVMS offers many tools to help companies manage projects more efficiently and protect profit margins, as well as providing a process which is already an ANSI Standard.
No methodology or process will make projects profitable overnight. However, combining earned value management principles with the proper statistical forecasting software may provide early detection of cost overruns and help a company avoid costly litigation.
This paper describes how an Earned Value Management System can help address the requirements for better project governance.