Budget planning is important when executing company projects. With earned value management software, companies can analyze the value of their projects and analyze how it impacts their company finances. Here are some of the best-earned value management software available right now.
7+ Earned Value Management Software
1. Oracle Primavera
2. Microsoft Project & Portfolio Management
3. Oracle’s Primavera Unifier
4. 4castplus
5. EcoSys
6. ARES PRISM
7. Tempo Budgets
What Is Earned Value Management Software?
Earned value management software is a financial management software that helps users monitor the performance of a company’s most complex and expensive projects. This project earned value software allows companies to establish a baseline on the performance evaluation of their projects, which monitors the earned value of their projects.
Benefits
Earned value management software allows companies to monitor the earned value of their projects that help them analyze the financial situation of their company as a result of these projects. The project earned value analysis software also helps project leaders to make decisions over their ongoing projects through the software’s reports that help them be well-informed over the financial situation of their projects. The EVM software tools of the software can be used by businesses of any size, from small businesses to medium-sized businesses to even large businesses, making this software useful for all kinds of companies that tackle project management as part of their operations.
Features
Earned value management software should allow users to establish definitions of their project baselines as part of the software’s performance monitoring. The value management software should also be able to consolidate financial data such as budget, resources, costs, and planning. The value management tools should also provide standard KPIs in project performance analysis that is customizable. The earned value analysis in software project management should also provide compliance management tools that let users comply with industry standards and regulation laws on earned value management. The software should also provide a dashboard view that keeps track of real-time data on project performance. The earned value analysis software should also be able to integrate with management software such as project management software and portfolio management software.
- Define project baselines in performance monitoring
- Consolidate financial data in project management
- Provide KPIs in project performance
- Compliance management capabilities
- Track real-time data on project performance
- Integrate with project management and portfolio management software
Top 7 Earned Value Management Software
1. Tempo Budgets
Tempo Budgets provides budget software that is effective for agile teams that allows them to report in-depth financial information. Tempo has 244 employees and earns annual revenue of $13.1 million.
2. Microsoft Project & Portfolio Management
Microsoft Project & Portfolio Management helps project teams to optimize their earned value and get the results they need regarding the value of their projects. Microsoft has 181,000 employees and earns a revenue of $168 billion.
3. Oracle Primavera
Oracle Primavera allows companies to plan and schedule their engineering and construction projects effectively by analyzing their value and cost. Oracle has 132,000 employees and earns a revenue of $40 billion.
4. Oracle’s Primavera Unifier
Oracle’s Primavera Unifier’s project and asset lifecycle management software is flexible that helps companies to maintain best company practice that leads to increased visibility and work efficiency. Oracle has 132,000 employees and earns a revenue of $40 billion.
5. ARES PRISM
ARES PRISM’s project controls software is made for enterprises to better analyze their data for their projects and portfolios. ARES has 508 employees and earns annual revenue of $156.5 million.
6. EcoSys
EcoSys’s performance maturity assessment software helps teams to find the value of their projects and whether they are reasonably spent or not. EcoSys has 70 employees and earns annual revenue of $10.2 million.
7. 4castplus
4castplus’s project management software helps teams find the cost of their projects that can bring their projects from an idea to reality. 4castplus has 10 employees and earns annual revenue of $1.4 million.
FAQs
Who would use earned value management software within a company?
Earned value management software is often used by project managers. However, the software can also be used by key members who influence the decision-making over the project such as CEOs and board of directors of the company.
Is earned value management software similar to project management software?
While both software tackle project management software in different aspects, they are not that similar in terms of functionality. Earned value management software cannot be used as an alternative to project management software in creating tasks for projects and allocating resources. Rather, earned value management software focuses on the cost of the project which is why it’s often recommended to use earned value management software in conjunction with project management software.
How much does earned value management software cost?
Pricing for earned value management software is usually customized, with each software increasing its pricing as it offers more features through subscription tiers. Pricing for earned value management software varies depending on the features available and the intended users. Small companies may benefit from low-cost data earned value management software while large companies may benefit from high-cost data earned value management software.
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