Earned Value Management (EVM) Term Paper Example | Topics and Well Written Essays - 1500 words

Earned Value Management (EVM) - Term Paper Example The business organisations engaged in competition strives to take an upper hand position in the market by achieving a sustainable competitive advantage. In this regard, they aim to utilize effective management tools and techniques to strengthen their position in terms of finance, market share, operational efficiency etc (Huggins and Izushi, 2011, p.227). To achieve a sustainable growth and development, managements must strive to manage their assigned projects in a systematic way for optimum outcomes. Efficient and effective Project management is a challenging task which includes multiple activities, and management generally uses certain specific techniques, tools and systems for handling a project. Earned Value Management (EVM), an approach for project management is the most popular and widely used technique for project management (Dinsmore and Cabanis-Brewin, 2010, p.107). This report will attempt to present importance and use of EVM for analysing and assessing planning, scheduling, costing, budgeting, evaluating and performance monitoring of a project. 2. Management of a Project An organisation including profit making or non-profit making performs a number of tasks. Each group of tasks have a certain specific goal and this group of tasks can be termed as ‘project’. Organisations get themselves engaged in the multiple projects to achieve the common and overall goals and objectives. Therefore, successful completion of project is very vital for the organisational success and project management has evolved as key process in business related activities. With increasing pressure of the workloads, project management is gaining recognition in all types of organisation including SMEs and multinational enterprises. In simple terms, project management can be defined as â€Å"the task of managing work† (Cooke and Tate, 2005, p.1). In case of business management, a project can involves any types of tasks e.g. product development; implementing new machi nes or system in operation for increasing efficiency; or marketing promotions and advertisement. Generally, the project management can be completed through a set five sequential processes. These five processes are initiation, planning, execution, controlling and closure (Choudhuri, n.d. p.3). However, in each process there are various tasks that strive to support each of the aspects and criterions in the course of project management. Cost management, risk and quality management, budgeting, operational management, scheduling etc are the example of these tasks. The above sated tasks can also be termed as project management knowledge that includes nine areas and each of them are crucial of the effective project management. These nine areas also include certain tasks and these areas are explained in the following chart. Figure 1: Project Management Knowledge Areas (Source: Choudhuri, n.d. p.4) 3. Background of Earned Value Management (EVM) In the previous section, the tasks involved in a project management have been discussed, and each of these tasks is critical having direct influence on the profitability and organisational growth. If the project management team is able to complete these tasks efficiently, they are able to meet the goal of a project. In the course of these tasks, maintenance of efficient, accuracy, and reliability are key factors for the success.

Scientific Essay Example | Topics and Well Written Essays - 500 words

Scientific - Essay Example 180). The latter permits replication of plasmid in host cells while drug-resistance gene is essential in allows growth of host cells by destruction of antibiotics especially carbenicillin. The use of restriction enzymes, in obtaining cloning sites through cleaving of the vector acts as the initial step in insertion of foreign DNA (Seviour and Nielsen, 2010, p. 365). Sticky ends especially single-stranded ends can results from cleavage of palindromic sequence GAATTC by EcoRI (Russell et al., 2013, p. 393). The resultant single-stranded ends have hybridization ability with similar EcoRI pieces of DNA. Using the principle, scientists take sequences of foreign DNA for cloning and mix them with cleaved vectors after digestion with EcoRI (Brown, 2013). After hybridization of the plasmid and foreign DNA through the sticky ends, the next step involves sealing with phosphodiester linkages to form recombinant plasmid. DNA ligase enzyme remains imperative in the sealing process. Consequently, the aforementioned replication origin, resistance gene, and DNA fragment remains present on the newly created recombinant plasmids that collectively forms circular library. The inherent recombinant plasmids have each of them possessing unique foreign DNA fragment. Subsequent stage involves addition of E. Coli bacteria that acts as host cells to the recombinant plasmids. At this stage, the study has made the cells permeable to DNA through treatment with CaCL2. Some cells resist taking recombinant plasmids while others do through a process known as transformation. Thereafter, the researcher pours the E,Coli cells into an antibiotic carbenicillin plate nutrient agar. It is important to note that only cells that have resistance to carbenicillinin antibiotic would grow in the agar as opposed to the rest. Growth and multiplication of the aforementioned cells remains possible at 37