The conventional method in project management does not give a clear picture of the progress of the project. It only measures the overall progress on the basis of cost and time rather than relative to what was planned.
In the EVM method, the present value of each activity is calculated and Earned value is calculated as a sum of these present values. This helps in tracking performance of each activity both with respect to time and cost.
Assigning resources to various activities in a project in a way that is economically viable is called Resource allocation. It is based more on heuristics rather than purely scientific ways. It involves both basic allocation as well as planning for contingencies.
Resource leveling is a process of investigating unbalanced resource allocation. The unbalance may be in terms of overloads, under-loads, conflicts etc. Resource leveling can be achieved by transferring slacks away from peak demand periods. b. A project manager may adopt some remedies in order to complete the project in case of lack of resources. One of them is to work overtime. It may improve short term project performance but may impact negatively in the long term. Another alternative is to reallocate resources for activities on the critical path as it is the critical path that governs the project duration (techrepublic). A project manager may decide to swap certain resources to achieve maximum productivity. A manger would also like to have a check on time constrained activities because wasting more