Earned Value Management

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Earned Value Management

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Earned Value Management

  1. 1. EARNED VALUEMANAGEMENTBy Matt Stehling
  2. 2. Terms & FormulasBudget at Completion:How much did we budget for the total projecteffort.Formula*:Total Billable Hours * Blended $ Rate Per HourWhere to find the data:- Time & Cost Estimate- Statement of work* Denotes that you can just take the total amount of the project from the documents above or calculate it yourself using the formula
  3. 3. Terms & FormulasActual Cost (AC):as of today, what is the actual cost incurred forthe work accomplished.Formula:Actual Billable Hours Spent * $ Blended RateWhere to find the data:- PMT- Time & Cost Estimate
  4. 4. Terms & FormulasEarned Value (EV):as of today, what is the estimated value of thework actually accomplishedFormula:Actual % Complete * Planned Value (PV)Where to find the data:- PMT- Time & Cost Estimate- Project Schedule
  5. 5. Terms & FormulasPlanned Value (EV):as of today, the estimated value of of the workplanned to be done.Formula:BAC * Planned % CompleteWhere to find the data:- EV Worksheet- Project Schedule
  6. 6. Terms & FormulasSchedule Variance (SV):Negative is behind schedule; Positive is aheadof scheduleFormula:EV-PVWhere to find the data:EV Worksheet
  7. 7. Terms & FormulasCost Variance (SV):Negative is over budget; Positive is underbudgetFormula:EV-ACWhere to find the data:EV Worksheet
  8. 8. Terms & FormulasSchedule Performance Index (SPI):We are (only) progressing at __ percent of therate originally planned.Formula:EV / PVWhere to find the data:EV Worksheet
  9. 9. Terms & FormulasCost Performance Index (CPI):We are getting $___ worth of work out of every$1 spent. Funds are or are not being usedefficiently.Formula:EV / ACWhere to find the data:EV Worksheet
  10. 10. Terms & FormulasEstimate at Completion (EAC):What do we currently expect the total project tocost (a forecast)?Formula:AC + (BAC-EV)/CPIWhere to find the data:EV Worksheet
  11. 11. Terms & FormulasEstimate at Completion (EAC):What do we currently expect the total project tocost (a forecast)?Formula:AC + (BAC-EV)/CPIWhere to find the data:EV Worksheet
  12. 12. Terms & FormulasEstimate to Completion (ETC):What do we currently expect the remainingproject work to cost?Formula:EAC – ACWhere to find the data:EV Worksheet
  13. 13. Terms & FormulasVariance at Completion (VAC):How much over or under budget will we be at theend of the project?Formula:BAC – EACWhere to find the data:EV Worksheet
  14. 14. WorksheetFor use by PMs open
  15. 15. The Ground Work• Must-have a Project Schedule• Must-have PMT tasks in sync with schedule• Must-have project team updating PMT• Must-have PMT Task groups that are in sync with Statement of Work and Time & Cost Estimate
  16. 16. QUESTIONS?

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