The Secret Weapon to Generating New Business
Finding and winning new business has never been an easy task. Now, more than ever, it’s critical to use every available resource while also leveraging your existing investments to maintain high margins. That means looking at some of the less obvious tools to improve your position and create a competitive advantage – tools like Earned Value Management (EVM).
Why, you might ask, is EVM is the “secret” to generating new business? Here are three key reasons:
- Having an Earned Value Management System (EVMS) is often a requirement to do business with the government. In fact, on some contracts, organizations with an established EVMS will receive preference in the contract award evaluation.
- Having a high level of competency in EVM means you can get more value out of your program management control system. That translates into more reliable, timely and actionable information that you can use to make effective management decisions and meet project objectives on time and within budget. The end result? Higher project profit margins through increased efficiency or award fees, enabling you to produce more competitive proposals and create an advantage for winning new business.
- A consistent competency in EVM can also result in higher customer satisfaction because of your ability to effectively manage, execute and deliver quality work.
The benefits of EVM don’t stop there…
Having a deep commitment to increasing your level of consistency and competency in EVM also leads to happy employees, happy management AND happy customers.
Project people are happier because they have a greater sense of control of their work effort – that can translate into a reduction in turnover and the ability to grow your internal talent base.
Management is happy because unpleasant project surprises are a thing of the past and profit targets are being met – they see the value in the commitment.
And finally, your customer is happy because they can demonstrate their program is being managed and effectively executed – and that can mean they continue to get their funding.
Sounds like a win-win-win, doesn’t it?
If you’re just getting started with EVM, I encourage you to download our recent white paper, Preparing for Your First EVM Contract. Or, if you’re already an EVM expert – check out the webcast, The Ultimate Guide to Complying with EVAS in 2017 to learn more about the upcoming changes for government contracts thanks to the DCMA’s new data-drive approach to surveillance.
- Business Development
- Business Infrastructure
- Contract Management
- Cost Management
- Costs and Expenses
- Deltek Clarity
- Deltek Costpoint
- Deltek Insight
- Earned Value Management
- Enterprise Resource Planning
- Financial Management
- Firm Management
- Government Contracting
- Human Capital Management
- KPIs and Analytics
- Project and Portfolio Management
- Project Management
- Resource Planning
- Risk Analysis
- Scheduling and Planning
- Small Business
- Talent Management
- Time and Expense Management