Write any two limitations of an EVM
Answers
Answer:
Earned Value Management (EVM) is an effective tool for project performance measurement that, if planned properly, can play a vital role for project success. EVM is based on scope, time and cost only while risks are not accounted for in planning process. Moreover, there are difficulties in acquiring real-time Actual Cost (AC) data for continuous monitoring and control, mainly due to the communication gap between engineers and accountants. Researchers have proposed different extensions of EVM for specific projects and in general. In order to apply the proposed EVM extensions, a real-time tourism facility project with sustainable energy & water resource at Kund Malir, Baluchistan is taken as a model. Costs, schedules, scope and risks are hypothetical in the model. Planned EVM is applied to the model with and without risks. Risk Costs and Scheduled Buffers are added in Planned Value (PV) calculations basing on probability-impact matrix factors. Furthermore, task level EVM models or Task-EVMs are integrated into Project-EVM or Master-EVM in order to minimize the problems being faced in acquiring real-time data. Industry specific application and research of EVM extensions proposed in this paper can be a good area for future research. Moreover, establishment of tourism facilities at unexplored or less explored areas of Sindh and Baluchistan can be another real-time research as well as a business project.
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Explanation:
Electronic Voting is the standard means of conducting elections using Electronic Voting Machines, sometimes called "EVMs" in India. The use of EVMs and electronic voting was developed and tested by the state-owned Electronics Corporation of India and Bharat Electronics in the 1990s.