Making Old New Again!

Performance measurement is imbedded in every aspect of working life. Sales generated, cost variance, drawings completed, and the number of troubleshooting calls are just a few metrics used to measure performance. Measuring performance has been around since there were projects to manage-even before the pyramids-but it was not until the nineteenth century that methods for managing performance in a wide variety of applications were developed. As early as the 1880s, Frederick Winslow Taylor began to formulate the connection between the selection of tools and methods and the resulting work performance. Today, innovators are still developing performance management ideas based on the idea of the right tool for the right job. One of the most enduring concepts using this simple axiom is earned value, a performance management concept that has been put in practice continually since the mid- 1960s.

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