Open way to improve project management with EVM

It is expected that in the near future, EVM will be widely applied to projects at FSOFT as one of the successful and practical projects management solutions amid the time when FSOFT is receiving more large-scale projects with higher complexity. To clarify how to effectively implement this method, Cucumber had an interview with CDO FSOFT Vu Tien Dat and Head of Quality Control (FQC) Nguyen Quoc Dong.

CCB: Before each implementation of a method, we always start with the question “Why?” So why did FSOFT choose EVM, sir?

Mr. Vu Tien Dat: We usually only manage the cost of Fixed Price projects with EE. At this point, we invisibly turn the Fixed Price project into a T&M project. The cost and effort poured into completing tasks can yield very high EE results, but it is unlikely to burn enough contract output to match. We have many projects that spend 90%, even 100% of the budget received from customers, high EE but near the end, we see very little implementation of the product. This leads to a lot of additional costs to cover, in addition, the amount of additional expenses required to spend on the completion of the project is also challenging to determine.

EVM is a management tool that helps PMs manage projects effectively, both in terms of cost, and output burn, and predicts the effectiveness between costs, earned value and project progress.

Mr. Nguyen Quoc Dong: After the application process, EVM brings 2 obvious effective points. First, it helps to align the value we bring to customers and the resources spent. The second is to make it easier for us to help customers receive value early, thereby reducing the risk of failure due to a project not delivering.

CCB: Currently, “Productivity” is like an “obsessed” keyword in the whole FSOFT. So does EVM help to increase productivity, sir?

Mr. Vu Tien Dat: EVM does not directly increase productivity. But when we tightly manage our values, we minimize the damage caused by the costs incurred without delivering real value. Those are the indirect aspects that increase productivity.

CCB: To effectively deploy EVM, what should PMs pay attention to, sir?

Mr. Nguyen Quoc Dong: Cost management is one of the PM evaluations and EVM is a basic model that is easy to understand when applied to cost management. To do EVM, we should start with simple things like explicit project tasks, and real-time gathering from project members. If the above conditions are not met, the EVM will not run.

CCB: So when participating in the implementation of EVM, how will the projects receive support from the leaders, sir?

Mr. Vu Tien Dat: You will be supported with training, tools, and management methods from the company.

Mr. Nguyen Quoc Dong: In S1, EVM is being piloted in some projects while S2 will define a program to encourage projects to run and apply EVM methodically. PMs will be credited with PM Contribution. In addition, I also believe that PM managed with EVM will free up more time to spend on improvements and possibly more projects.

CCB: Thank you for sharing information with Cucumber readers!

To learn more about EVM, this week,PMs should register to attend this June PM Workshop in the time frame from 2 pm to 4 pm on June 24 HERE. The program has the participation of the speaker Mr. Vu Tuan Manh (GAM.BOD) – A pioneer in implementing EVM for GAM and FSOFT.