Project Management is an important role in today’s flattener organizations. As companies continue to reduce hierarchical levels and move toward more horizontal structures, more people with project management skills are needed. Also, in order to launch the new products on time and in budget, nearly all the important companies use project management skills, to coordinate people from manufacturing to marketing and finance.
On the other hand, related to other management disciplines, modern project management is pretty new. It first started to be used in the USA by government programs in 1950s, but it has been used widely in all sectors beginning from 1990s and it still improves. Today, it is seen that although human skills are important in order to establish the necessary coordination between people and departments, technical skills are equally important to measure the project performance objectively and to take necessary actions. This study concentrates on an important mathematical project management technique “Earned Value Management” in order to highlight these necessary technical skills.
In the first part we give necessary concepts about project management. In the following parts we highlight methods for management of two important project constraints “time” and “cost”. “Earned Value Management” technique is highlighted in the final part.