Project Management is the application of knowledge, skills, tools and techniques to the activities necessary to achieve the objectives of the project.
Project management tools serve to provide the structure, flexibility, and necessary control to team members to achieve extraordinary results on time and within budget.
In addition, it should be noted that the efficient management of a project involves the use of specific management processes for each of the stages of the project: start, planning, execution, control and closure.
There is a great variety of tools that are used for project management, and given this huge variety, we could say that the main problem is not finding tools but identifying which is best suited to our needs.
I understand that, according to the tools already studied, the analysis of Earned Value and the Gantt Diagram are of my interest since I consider them among the most efficient. These tools are characterized by the following:
- The Earned Value Technique is a tool that develops and integrates technical, cost, and planning parameters into a single tool. It is a method of measurement of performance very used in direction of projects, in which are integrated costs, terms and scope.
The advantages of applying this technique are many but also their associated cost is significant.
It is a simple project management and control system, which provides credible data. It integrates in a single technique, the work, the planning and the cost, using for this, the structure of decomposition of the project (EDP). It provides early identification of problems through the use of cost-effectiveness (CPI) and planning (SPI) indices. It allows to predict with a certain security, within a range, the final cost of the project. It is possible to predict the future performance of the project by means of the remaining work performance index (TCPI) and to act accordingly to correct deviations.
- Gantt Diagram: A basic tool used to carry out project planning. It is a bar diagram that shows the origin and the end of the different minimum working units and task groups as well as the dependencies between minimum working units (they can be end-start, end-end, start-end, start- Start).
Within the two tools mentioned above, I consider the value G Important because it allows us to track problems from the beginning of a project, allowing us to make decisions in a more critical and timely manner.
However, in spite of considering the value-added tool as the most important, the reality is that, in the work environment that I develop, the most commonly used tool is the Gantt Diagram because it is easier to understand and manage.