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Earned Value Management. How do we get started?. What is it?. A planning process An internal policy A contract requirement A way to measure performance A way to identify problems A forecasting tool A way of doing business. What is it?.

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earned value management

Earned Value Management

How do we get started?

what is it
What is it?
  • A planning process
  • An internal policy
  • A contract requirement
  • A way to measure performance
  • A way to identify problems
  • A forecasting tool
  • A way of doing business
what is it1
What is it?

A way to integrate scope, schedule, and resources all at once!

how is it used
How is it used?
  • A reporting tool
    • Satisfy the contract reporting requirements
    • “filling the square”
  • As a decision-making tool
    • To evaluate project planning
    • To communicate status
    • To forecast resource needs
language of evm
Language of EVM
  • Budgeted Cost of Work Scheduled (BCWS)
    • The plan to spend budget
  • Actual Cost of Work Performed (ACWP)
    • The costs of the work that has occurred
  • Budgeted Cost of Work Performed (BCWP)
    • What was performed (what it should have cost)
    • This is EARNED VALUE
language of evm1
Language of EVM
  • Schedule Variance SV = BCWP – BCWS
    • On/Off plan in dollars (>0 is ahead, 0 is on target, <0 is behind)
  • Schedule Performance Index SPI = BCWP/BCWS
    • On/off plan as a ratio (>1 is ahead, 1 is on target, <1 is behind)
  • Cost Variance CV = BCWP – ACWP
    • Over/under running (>0 is underrun, 0 is on target, <0 is overrun)
  • Cost Performance Index CPI = BCWP/ACWP
    • Return on actual costs (>1 is under, 1 is on target, <1 is over)
language of evm2
Language of EVM
  • Budget Authority for unknowns
    • Management Reserve
  • Budget at Complete, BAC
    • The budget to do the work
  • Estimate to Complete, ETC
    • Estimate of the cost to do the remaining work
  • Estimate at Complete
    • Best guess of cost of entire cost of project
  • Latest Revised Estimate
    • Contractor’s best guess of cost of entire cost of project
in a picture
In a Picture

EAC

Management Reserve

BAC

PMB

Schedule Variance

Cost Variance

$

ACWP

BCWS

BCWP

time

Time

Now

Completion

Date

how do we do this
How do we do this?
  • Performance Measurement Baseline
    • Scope
      • Identify the scope of work
      • WBS
      • Extend to Work package level
how do we do this1
How do we do this?
  • Performance Measurement Baseline
    • Schedule
      • Arrange work packages in order
      • Schedule start and finish
      • Classify work and choose EV technique
how do we do this2
How do we do this?
  • Performance Measurement Baseline
    • Budget
      • Identify needed resources (budget)
      • Spread budget
      • Calculate Cumulative BCWS
how do we do this3
How do we do this?
  • Performance measurement baseline

Graph Cum BCWS

example
Example

Task Cost Start End

WP1 9 1 3

WP2 12 3 7

WP3 28 3 4

WP5 8 6 9

WP5 10 1 10

example1

1

2

3

4

5

6

7

8

9

10

WP1

WP2

WP3

WP4

Monthly BCWS

Cumulative BCWS

WP5

Example
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