Capstone 7Option #2: Earned Value Management ReviewUsing past course texts, current suggested readings, and other scholarly resources, write a review of earned value management.Define the following:Sc

Capstone 7

Option #2: Earned Value Management Review

Using past course texts, current suggested readings, and other scholarly resources, write a review of earned value management.

Define the following:

• Schedule variance (SV)
• Cost variance (CV)
• Schedule performance index (SPI)
• Cost performance index (CPI)

Be sure to address these questions:

• What do SPI and CPI demonstrate? How do you plan to use this information in your recommendation to the CIO?
• How are SV and CV related to one another? Why are these terms important?
• What are the major advantages of using earned value metrics to understand the effectiveness of project performance? What do you perceive are its disadvantages?
• What are the challenges associated with obtaining earned value metrics? What can you do as a project manager to minimize the challenges?
• What are your recommendations given the information above?

Lastly, conclude with a description of the value of earned value management to an organization.

Your paper should meet the following requirements:

• Be at least 3 pages in length.
• Be formatted according to the CSU-Global Guide to Writing and APA.
• Include two scholarly sources. The CSU-Global Library is a good place to find these sources.