Risk and EVM

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suresi00
Contributor
Posts: 150
Joined: Mon Nov 20, 2017 4:05 pm

Risk and EVM

A recent earned value analysis shows that your project is 20 percent complete, the CPI is 0.67, and the SPI is 0.87. In this situation, you should—

Perform additional resource planning, add resources, and use overtime as needed to accomplish the same amount of budgeted work
Rebaseline the schedule, then use Monte Carlo analysis
Conduct a risk response audit to help control risk
Forecast potential deviation of the project at completion from cost and schedule targets

I thought in this case we should first do a risk audit to see why the deviation is occurring.

The question I have is
1. do we do a forecasting first to see where we will reach if this is going to be the condition
2. Then we do a risk audit to figure out why the SPI and CPI are too low?

manishpn
Expert
Posts: 2595
Joined: Sat Jan 04, 2014 3:55 pm

Re: Risk and EVM

suresi00 wrote:A recent earned value analysis shows that your project is 20 percent complete, the CPI is 0.67, and the SPI is 0.87. In this situation, you should—

Perform additional resource planning, add resources, and use overtime as needed to accomplish the same amount of budgeted work
Rebaseline the schedule, then use Monte Carlo analysis
Conduct a risk response audit to help control risk
Forecast potential deviation of the project at completion from cost and schedule targets

I thought in this case we should first do a risk audit to see why the deviation is occurring.

The question I have is
1. do we do a forecasting first to see where we will reach if this is going to be the condition
2. Then we do a risk audit to figure out why the SPI and CPI are too low?

If I look at the question I do not see any mention of risk and we are in early stages of project as its only 20% complete,
Keep it simple try to relate to information given in the question to get the best option,
if the CPI or SPI are low due to certain risk events in project then I would look at risk control else no need.