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Earned Value Analysis:    Making it Work                            February 22-23, 2012   Joe Lukas, PMP, PM, CCE        ...
Traditional Project Cost CurveWhat can you tell about the health of this project based on this graph?                     ...
Traditional Project Cost CurveThe only information you know from this graph is that spending isless than planned!         ...
Earned Value Analysis CurveWhat can you tell about the health of this project based on this graph?                        ...
Earned Value Analysis CurveYou have completed more work than planned, but you can’t tell ifyou are ahead of schedule! Why ...
What Will Be Covered?• TOPIC 1: Quick review of  Earned Value Analysis (EVA)  terminology, calculations, and  best practic...
Topic 1EVA Terminology & Calculations                                       PV                CV                          ...
Earned Value Terms• Earned Value Analysis (EVA): Quantitative calculations  that use the progress of authorized work and t...
Earned Value Terms: PV            Planned Value (PV) • Also called Budgeted Cost of Work   Scheduled (BCWS) • Portion of t...
Planned Value (PV)                                  Time Now                   75Dollars or Hours                   50    ...
Earned Value Terms: AC       Actual Cost (AC) • Also called Actual Cost of Work   Performed (ACWP) • Costs incurred in acc...
Actual Cost (AC)                    Time Now                                                               planned or     ...
Earned Value Terms: EV           Earned Value (EV) • Also called Budgeted Cost of Work   Performed (BCWP) • The value of c...
Earned Value (EV)                    Time Now                                                              planned or     ...
Earned Value RelationshipsThe work with the scheduleand budget is the PLAN                                     Costs      ...
Calculating Earned Value (EV) EV = % Complete x budget $ for that activity• Percent complete is the physical progress of t...
Progressing Techniques• Units Completed• Incremental Milestones• Start – Finish• Apportioned Relationship• Level of Effort...
Quantitative Progressing• Units Completed - work with repeated production of easily  measured pieces of work• Incremental ...
Qualitative Progressing• Level of Effort - assumes the progress of the activity is  equal to the amount spent             ...
Misc. Progressing Techniques• Apportioned Relationship - has a direct intrinsic  performance relationship to another discr...
What Progressing Technique?New carpet installation in company cafeteria  1. Units Completed  2. Incremental Milestones  3....
What Progressing Technique?Rock Excavation for new foundation  1. Units Completed  2. Incremental Milestones  3. Start – F...
What Progressing Technique?New pill press machine purchase  1. Units Completed  2. Incremental Milestones  3. Start – Fini...
What Progressing Technique?Factory inspector for equipment fabrication  1. Units Completed  2. Incremental Milestones  3. ...
Schedule & Cost: Variance & Index• Schedule Variance measures schedule performance                            SV = EV - PV...
SV & CV – Bad Project                                    Time Now          75                                             ...
SV & CV – „Good‟ Project                                  Time Now                                                        ...
SPI Warning!!!• Caution! The Schedule Performance Index may or may not accurately reflect the true schedule condition of t...
Key Cost Forecasting Terms• Budget at Completion (BAC) - sum of all  authorized budgets allocated to a project - the  “Per...
Key Cost Forecasting Terms                                                                             EAC               B...
EAC Formulas: CPI = 1• „Mathematical‟ or „Overrun-to-Date‟ EAC• EAC = AC + (BAC - EV) - assumes the plan will be met for t...
EAC Formulas: „Most Likely‟• „Cumulative CPI‟ EAC• EAC = AC + (BAC - EV)/CPI = BAC/CPI• Assumes the performance (CPI) will...
EAC Formulas: CPI times SPI• „Cumulative CPI times SPI‟ EAC• EAC = AC + ((BAC - EV) / (CPI x SPI)) or      = BAC / (CPI x ...
Comments on Cumulative CPI• Cumulative CPI has been shown to stabilize  as early as the 20% completion point of the  proje...
To-Complete Performance Index• TCPI – provides a forecast of the required performance  level, expressed as a CPI, which mu...
TCPI Formulas               Work Remaining                                   (BAC – EV)TCPI (BAC) =                       ...
Topic 2Top Ten List on what‟s needed to makeEVA successful                &Actions that should be done on projectsto help ...
Making EVA WorkWhat‟s needed to make EVA Successful: 6. Integrated Project Plan (WBS-Schedule-Budget) 7. Correct Schedule ...
Making EVA WorkWhat‟s needed to make EVA Successful: 1. Defined Requirements 2. Complete Requirements 3. WBS Used and Acce...
#1: Defined RequirementsBusinessObjectives                 Problem or                 Opportunity                      “Wh...
#2: Complete Requirements          Schedule                                                          Quality              ...
#3: WBS Used & Accepted• WBS lists the project deliverables, which is the  input to the project schedule & budget• Consequ...
#3: Use of a WBS   Proper Naming of Deliverables & Activities                    Major Deliverables    WBS Elements      ...
#3: Naming WBS Deliverables• Data Flow Diagram• Risk Management Plan• Training Manual Outline• Test Plan• Conduct unit tes...
#4: Complete WBS                                   Project Product               Major                    Major           ...
#5: Change Management Process• Consequence if not used:   Cost / schedule deviations for Work Packages not    documented ...
#6: Integrated Project Plan• WBS, Schedule and Budget are not integrated• Consequence if not used: Makes doing EVA  calcul...
#7: Correct Schedule/Budget• Schedule logic incorrect, work package estimates  incorrect• Consequence if happens: Incorrec...
#7: Use of Contingency WP #     WP Title/Description                  WP Estimate  ~                         ~            ...
#7: Contingency Management            Sample Contingency Drawdown Graph     Dollars                                  Statu...
#8: Effective Cost System• Internal labor hours not captured, costs not  captured at Work Package level, multiple cost  sy...
#8: Adequate Cost SystemDivide the project into internal and external work:   Use SV, SPI, CV, CPI                        ...
#9: Accurate Reported Progress• Reported progress must be accurate – can be  team bias (usually too optimistic)• Consequen...
#10: Management Influence• Management pressures teams to show only good  results• Consequence if happens: Reported progres...
Back to the Earned Value Curve                               Time Now                                                     ...
The Results?• Final Costs = 4x• Final Schedule = + 1 year• The good news – the software worked!        So What Happened?  ...
EVMS Standard• In 1995, National Defense Industrial Association  (NDIA) started work to rewrite Cost/Schedule  Control Sys...
EVMS Standard• New version is called Earned Value  Management System (EVMS) Criteria and  contains 32 criteria in five gro...
Conclusion• Earned Value is a methodology that, if used  properly, provides project performance  measurement• EV requires ...
Questions?  Joe Lukas, PMP, PM, CCE                       Vice-President               609-575-9306 (c)               888-...
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  1. 1. Earned Value Analysis: Making it Work February 22-23, 2012 Joe Lukas, PMP, PM, CCE Vice-President 609-575-9306 (c) 888-762-3683 (w) joe.lukas@pmcentersusa.com
  2. 2. Traditional Project Cost CurveWhat can you tell about the health of this project based on this graph? Status Date Budget – Planned Work $‟s or Hours Actual Cost Time  1. Completing work for less than the budgeted amount  2. Behind the project schedule  3. Spending less than planned  4. Behind schedule & completing work for less than the budget amount 2 ©Joe Lukas, February 22-23, 2012
  3. 3. Traditional Project Cost CurveThe only information you know from this graph is that spending isless than planned! Status Date Budget – Planned Work $‟s or Hours Actual Cost Time  1. Completing work for less than the budgeted amount  2. Behind the project schedule  3. Spending less than planned  4. Behind schedule & completing work for less than the budget amount 3 ©Joe Lukas, February 22-23, 2012
  4. 4. Earned Value Analysis CurveWhat can you tell about the health of this project based on this graph? Status Date Budget $‟s or Earned Value Hours Actual Cost Time  1. Completing work for less than the budgeted amount  2. Ahead of the project schedule  3. Spending less than planned  4. Ahead of schedule & completing work for less than the budget amount 4 ©Joe Lukas, February 22-23, 2012
  5. 5. Earned Value Analysis CurveYou have completed more work than planned, but you can’t tell ifyou are ahead of schedule! Why not? Status Date Budget $‟s or Earned Value Hours Actual Cost Time  1. Completing work for less than the budgeted amount  2. Ahead of the project schedule  3. Spending less than planned  4. Ahead of schedule & completing work for less than the budget amount 5 ©Joe Lukas, February 22-23, 2012
  6. 6. What Will Be Covered?• TOPIC 1: Quick review of Earned Value Analysis (EVA) terminology, calculations, and best practices• TOPIC 2: Top ten pitfalls that can make EVA unsuccessful and corrective actions that can be applied to your project to counter these hazards 6 ©Joe Lukas, February 22-23, 2012
  7. 7. Topic 1EVA Terminology & Calculations PV CV EV AC SPI SV CPI ACWP BAC BCWP EAC BCWS ETC 7 ©Joe Lukas, February 22-23, 2012
  8. 8. Earned Value Terms• Earned Value Analysis (EVA): Quantitative calculations that use the progress of authorized work and the budget for that work (called the earned value) for the purpose of monitoring performance and predicting the final required costs (and time) necessary to finish the project• Earned Value Management (EVM): a method for measuring the performance of work packages, control accounts and the project; includes the integrated schedule and budget based on the project• Earned Value Management System (EVMS): the integrated policies practices, procedures, tools and templates used to do EVM 8 ©Joe Lukas, February 22-23, 2012
  9. 9. Earned Value Terms: PV Planned Value (PV) • Also called Budgeted Cost of Work Scheduled (BCWS) • Portion of the approved cost estimate (budget) scheduled to be spent on the task during a given time period • This is the budget cost of what was scheduled to be done 9 ©Joe Lukas, February 22-23, 2012
  10. 10. Planned Value (PV) Time Now 75Dollars or Hours 50 planned or PV = scheduled work 25 0 6 12 18 Time 10 ©Joe Lukas, February 22-23, 2012
  11. 11. Earned Value Terms: AC Actual Cost (AC) • Also called Actual Cost of Work Performed (ACWP) • Costs incurred in accomplishing work on the task • This is what the work actually cost 11 ©Joe Lukas, February 22-23, 2012
  12. 12. Actual Cost (AC) Time Now planned or 75 PV = scheduled work 50 what the workDollars AC = actually cost 25 0 6 12 18 Time 12 ©Joe Lukas, February 22-23, 2012
  13. 13. Earned Value Terms: EV Earned Value (EV) • Also called Budgeted Cost of Work Performed (BCWP) • The value of completed work calculated by multiplying the work budget by the percent of the work completed • This is what was actually done (earned) 13 ©Joe Lukas, February 22-23, 2012
  14. 14. Earned Value (EV) Time Now planned or 75 PV - scheduled work 50Dollars what the work AC - actually cost 25 actual work EV = accomplished 0 6 12 18 Time 14 ©Joe Lukas, February 22-23, 2012
  15. 15. Earned Value RelationshipsThe work with the scheduleand budget is the PLAN Costs Budget Actual Scheduled PV Work Performed EV ACEarned Value looks at the budget The work performedamount for the work performed (done) and the costs for that work are ACTUAL results 15 ©Joe Lukas, February 22-23, 2012
  16. 16. Calculating Earned Value (EV) EV = % Complete x budget $ for that activity• Percent complete is the physical progress of the task:  A task is 0% complete if not started  A task is 100% complete when finished  Different techniques can be used to evaluate progress while a task is being done 16 ©Joe Lukas, February 22-23, 2012
  17. 17. Progressing Techniques• Units Completed• Incremental Milestones• Start – Finish• Apportioned Relationship• Level of Effort• Individual Judgment• Combination Methods 17 ©Joe Lukas, February 22-23, 2012
  18. 18. Quantitative Progressing• Units Completed - work with repeated production of easily measured pieces of work• Incremental Milestones - work broken down in multiple measurable milestones, with specific budget values• Start–Finish - some progress may be assigned at start; 100% at completion 18 ©Joe Lukas, February 22-23, 2012
  19. 19. Qualitative Progressing• Level of Effort - assumes the progress of the activity is equal to the amount spent • Individual Judgment - Important to get multiple opinions of progress, this provides a „checks and balance‟ on the progress accuracy 19 ©Joe Lukas, February 22-23, 2012
  20. 20. Misc. Progressing Techniques• Apportioned Relationship - has a direct intrinsic performance relationship to another discrete Work Package & progress is same• Combination Methods - Use two or more of the other progressing techniques These techniques can be either qualitative or quantitative 20 ©Joe Lukas, February 22-23, 2012
  21. 21. What Progressing Technique?New carpet installation in company cafeteria 1. Units Completed 2. Incremental Milestones 3. Start – Finish 4. Apportioned Relationship 5. Level of Effort 6. Individual Judgment 7. Combination Methods 21 ©Joe Lukas, February 22-23, 2012
  22. 22. What Progressing Technique?Rock Excavation for new foundation 1. Units Completed 2. Incremental Milestones 3. Start – Finish 4. Apportioned Relationship 5. Level of Effort 6. Individual Judgment 7. Combination Methods 22 ©Joe Lukas, February 22-23, 2012
  23. 23. What Progressing Technique?New pill press machine purchase 1. Units Completed 2. Incremental Milestones 3. Start – Finish 4. Apportioned Relationship 5. Level of Effort 6. Individual Judgment 7. Combination Methods 23 ©Joe Lukas, February 22-23, 2012
  24. 24. What Progressing Technique?Factory inspector for equipment fabrication 1. Units Completed 2. Incremental Milestones 3. Start – Finish 4. Apportioned Relationship 5. Level of Effort 6. Individual Judgment 7. Combination Methods 24 ©Joe Lukas, February 22-23, 2012
  25. 25. Schedule & Cost: Variance & Index• Schedule Variance measures schedule performance SV = EV - PV at a point in time:• Schedule Performance Index ratio of work performed to work SPI = EV PV scheduled (earned / plan):• Cost Variance measures cost performance CV = EV - AC at a point in time:• Cost performance index ratio of budget costs for work CPI = EV AC performed to actual costs: 25 ©Joe Lukas, February 22-23, 2012
  26. 26. SV & CV – Bad Project Time Now 75 Planned Budget - (Scheduled) Work 50Dollars Actual Cost SV = -25 CV = -12 25 Earned Value - Budget of Work Accomplished 0 6 9 12 18 Time 26 ©Joe Lukas, February 22-23, 2012
  27. 27. SV & CV – „Good‟ Project Time Now Budget 75 SV = +5 50 CV = +18Dollars Earned Value 25 Actual Cost 0 6 9 12 18 Time 27 ©Joe Lukas, February 22-23, 2012
  28. 28. SPI Warning!!!• Caution! The Schedule Performance Index may or may not accurately reflect the true schedule condition of the project! • Total Float must also be considered! • SPI > 1.0 may occur by “earning” progress on non-critical activities 28 ©Joe Lukas, February 22-23, 2012
  29. 29. Key Cost Forecasting Terms• Budget at Completion (BAC) - sum of all authorized budgets allocated to a project - the “Performance Measurement Baseline”• Estimate to Complete (ETC) - the expected additional cost to complete the project• Estimate at Completion (EAC) - the expected total cost of the project when the defined scope of work is completed 29 ©Joe Lukas, February 22-23, 2012
  30. 30. Key Cost Forecasting Terms EAC BAC TIME NOW Project ETC ContingenciesDOLLARS PV AC EV NOTE: Most ETC & EAC formulas include an adjustment based on project performance (CPI, SPI) TIME 30 ©Joe Lukas, February 22-23, 2012
  31. 31. EAC Formulas: CPI = 1• „Mathematical‟ or „Overrun-to-Date‟ EAC• EAC = AC + (BAC - EV) - assumes the plan will be met for the remaining work (CPI = 1.0)• Yields the most optimistic EAC when CPI < 1.0 Time Now CPI „Good Project‟ 1.0 Project #1 & #2 CPI Actual CPI „Bad Project‟ 0.0 Time 31 ©Joe Lukas, February 22-23, 2012
  32. 32. EAC Formulas: „Most Likely‟• „Cumulative CPI‟ EAC• EAC = AC + (BAC - EV)/CPI = BAC/CPI• Assumes the performance (CPI) will remain unchanged for the rest of the project Time Now Project #2 CPI „Good Project‟ CPI 1.0 Project #1 CPI Actual CPI „Bad Project‟ 0.0 Time 32 ©Joe Lukas, February 22-23, 2012
  33. 33. EAC Formulas: CPI times SPI• „Cumulative CPI times SPI‟ EAC• EAC = AC + ((BAC - EV) / (CPI x SPI)) or = BAC / (CPI x SPI) [Not quite the same calculation]• Yields the most pessimistic EAC when both SPI & CPI < 1.0 Time Now Project #2 CPI „Good Project‟ CPI 1.0 Project #1 CPI Actual CPI „Bad Project‟ 0.0 Time 33 ©Joe Lukas, February 22-23, 2012
  34. 34. Comments on Cumulative CPI• Cumulative CPI has been shown to stabilize as early as the 20% completion point of the project• “…researchers found the cumulative CPI does not change by more than 10% once a contract is 20% complete; in most cases, the cumulative CPI one worsens as a contract proceeds to completion”11Dr. David S. Christensen, “Using Performance Indices to Evaluate the Estimate at Completion,” The Journal ofCost Analysis of the Society of Cost Estimating and Analysis, Spring 1994, page 19. 34 ©Joe Lukas, February 22-23, 2012
  35. 35. To-Complete Performance Index• TCPI – provides a forecast of the required performance level, expressed as a CPI, which must be achieved on the remaining work in order to meet the project financial goal, which can be:  Current authorized budget  Project Manager‟s current EAC• TCPI – provides a sanity check for the Project Manager on whether the required CPI for the rest of the project is obtainable• Remember: “…cumulative CPI does not change by more than 10% once a contract is 20% complete…” 35 ©Joe Lukas, February 22-23, 2012
  36. 36. TCPI Formulas Work Remaining (BAC – EV)TCPI (BAC) = = Funds Remaining (BAC – AC) Work Remaining (BAC – EV)TCPI (EAC) = = Funds Remaining (EAC – AC) Time Now TCPI (BAC) CPI Baseline 1.0 Plan Actual CPI 0.0 Time 36 ©Joe Lukas, February 22-23, 2012
  37. 37. Topic 2Top Ten List on what‟s needed to makeEVA successful &Actions that should be done on projectsto help ensure successful use of EVA 37 ©Joe Lukas, February 22-23, 2012
  38. 38. Making EVA WorkWhat‟s needed to make EVA Successful: 6. Integrated Project Plan (WBS-Schedule-Budget) 7. Correct Schedule & Budget 8. Effective Cost collection system 9. Accurate Reported Progress10. No Management influence on progress 38 ©Joe Lukas, February 22-23, 2012
  39. 39. Making EVA WorkWhat‟s needed to make EVA Successful: 1. Defined Requirements 2. Complete Requirements 3. WBS Used and Accepted 4. Complete WBS 5. Change Management Process 39 ©Joe Lukas, February 22-23, 2012
  40. 40. #1: Defined RequirementsBusinessObjectives Problem or Opportunity “Why” Business Requirements “What” Functional & Technical Requirements WBS “What” Solution Architecture & “How” Specifications Project Scope documented “How” by the WBS 40 ©Joe Lukas, February 22-23, 2012
  41. 41. #2: Complete Requirements Schedule Quality Communications Scope Staffing Procurement Cost RiskRequirements Project Plan 41 ©Joe Lukas, February 22-23, 2012
  42. 42. #3: WBS Used & Accepted• WBS lists the project deliverables, which is the input to the project schedule & budget• Consequence if not used: Control Accounts and Work Packages not identified – making EVA calculations difficult and time consuming• Correct Action:  Prepare a WBS on your project! 42 ©Joe Lukas, February 22-23, 2012
  43. 43. #3: Use of a WBS Proper Naming of Deliverables & Activities  Major Deliverables WBS Elements May not be needed for small  Deliverables or medium projects, probably >1 level for large projects  Work Package Lowest level for control Deliverables Steps needed to create the  Activities WBS deliverable 43 ©Joe Lukas, February 22-23, 2012
  44. 44. #3: Naming WBS Deliverables• Data Flow Diagram• Risk Management Plan• Training Manual Outline• Test Plan• Conduct unit test for program 21A• Review requirements document• Prepare report specification draft• Write script for interface module 44 ©Joe Lukas, February 22-23, 2012
  45. 45. #4: Complete WBS Project Product Major Major Major Deliverable 1 Deliverable 2 Deliverable 3 Deliverable 3.1 Deliverable 3.2Deliverable 1.1 Deliverable 1.2 = Control Accounts = Work Packages Sub-Deliverable 3.1.1 Sub-Deliverable 3.1.2 Need to verify WBS covers all project requirements! 45 ©Joe Lukas, February 22-23, 2012
  46. 46. #5: Change Management Process• Consequence if not used:  Cost / schedule deviations for Work Packages not documented  Scope changes not captured – baseline not updated• Correct Action:  Implement a change management process on your project for both deviations and scope changes 46 ©Joe Lukas, February 22-23, 2012
  47. 47. #6: Integrated Project Plan• WBS, Schedule and Budget are not integrated• Consequence if not used: Makes doing EVA calculations difficult• Correct Action: Use WBS as the starting point in preparing project schedule and budget 47 ©Joe Lukas, February 22-23, 2012
  48. 48. #7: Correct Schedule/Budget• Schedule logic incorrect, work package estimates incorrect• Consequence if happens: Incorrect EVA calculations• Correct Action:  Follow good scheduling practices  Estimate at Work Package activities level  Use a contingency fund to handle cost & schedule deviations 48 ©Joe Lukas, February 22-23, 2012
  49. 49. #7: Use of Contingency WP # WP Title/Description WP Estimate ~ ~ ~ 15 Package Implementation $ 50,000 - Sub-total $1,545,000 - Contingency $ 155,000 - Project Total $1,700,000 Task Schedule ~ Project P Contingency Complete 11 days Task ~ Q 49 ©Joe Lukas, February 22-23, 2012
  50. 50. #7: Contingency Management Sample Contingency Drawdown Graph Dollars Status Days Date $40k 20 001 Cost Contingency Start = $38k 002 003 $30k 004 Schedule Contingency Start = 15 days 15 $29.4k 001 002 $20k 10 003 004 EAC = $15k 6 days $10k 5 $0 Oct Nov Dec Jan Feb Mar Apr May Project Timeline EAC = -9 days50 ©Joe Lukas, February 22-23, 2012 50
  51. 51. #8: Effective Cost System• Internal labor hours not captured, costs not captured at Work Package level, multiple cost systems in place• Consequence: Difficult or impossible to report actual costs• Correct Action: Use SV and SPI only for internal work if costs not available, have contractors report EVA information for their work 51 ©Joe Lukas, February 22-23, 2012
  52. 52. #8: Adequate Cost SystemDivide the project into internal and external work: Use SV, SPI, CV, CPI Use SV, SPI Project External Work Internal Work Deliverable A Deliverable B Deliverable 1 Deliverable 2 Work Package 1.1 Work Package 2.1 52 ©Joe Lukas, February 22-23, 2012
  53. 53. #9: Accurate Reported Progress• Reported progress must be accurate – can be team bias (usually too optimistic)• Consequence if not accurate: Incorrect EVA results• Correct Action: Minimize subjective progress techniques - if use of Individual Judgment and Level of Effort >10%, EVA results probably not valid 53 ©Joe Lukas, February 22-23, 2012
  54. 54. #10: Management Influence• Management pressures teams to show only good results• Consequence if happens: Reported progress too optimistic - results in incorrect EAC• Correct Action: Resist management influence 54 ©Joe Lukas, February 22-23, 2012
  55. 55. Back to the Earned Value Curve Time Now Budget 75 50Dollars Actual Cost Earned Value 25 This was the graph for a real project… 0 6 9 12 18 Time 55 ©Joe Lukas, February 22-23, 2012
  56. 56. The Results?• Final Costs = 4x• Final Schedule = + 1 year• The good news – the software worked! So What Happened? 56 ©Joe Lukas, February 22-23, 2012
  57. 57. EVMS Standard• In 1995, National Defense Industrial Association (NDIA) started work to rewrite Cost/Schedule Control System Criteria (C/SCSC) to make it more compatible with the needs of private industry• Result was American National Standard Institute- Electronic Industries Association ANSI/EIA 748 standard 57 ©Joe Lukas, February 22-23, 2012
  58. 58. EVMS Standard• New version is called Earned Value Management System (EVMS) Criteria and contains 32 criteria in five groups:  Organization  Planning, Scheduling and Budgeting  Accounting Considerations  Analysis and Management Reports  Revisions and Data Maintenance 58 ©Joe Lukas, February 22-23, 2012
  59. 59. Conclusion• Earned Value is a methodology that, if used properly, provides project performance measurement• EV requires complete requirements, scope definition and a Project Plan!• Properly used, Earned Value is a flexible process that provides timely information on the project health 59 ©Joe Lukas, February 22-23, 2012
  60. 60. Questions? Joe Lukas, PMP, PM, CCE Vice-President 609-575-9306 (c) 888-762-3683 (w) joe.lukas@pmcentersusa.com February 22-23, 2012 60 ©Joe Lukas, February 22-23, 2012
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