Earned Value Analysis (EVA) integrates three key measurements - planned work, completed work, and actual costs - to provide consistent indicators for evaluating project status. EVA compares planned costs and work to actual completed work to determine if cost, schedule, and progress are aligned as planned. It provides early warnings if projects are over budget or behind schedule so corrective actions can be taken. EVA has been an industry standard since the 1960s for accurately measuring project performance and forecasting completion costs and dates.
Earned Value Analysis (EVA) is an industry standard method for measuring project performance and progress. It integrates measurements of the budgeted cost of scheduled work, actual costs incurred, and the value of work completed to provide cost and schedule variances. EVA requires defining the project scope through a work breakdown structure, establishing a performance measurement baseline, and measuring earned value by tracking the budgeted cost of completed work packages. The results provide consistent indicators to evaluate whether a project is on budget and on schedule, enabling corrective actions if needed.
Are Your Project Consultants Creating Less Value Than What Youre Paying Themj_hallstrom
The document discusses how earned value management can help answer questions about project budget, schedule, and the value consultants are providing by tracking the planned value, earned value, and actual cost of consultants' work over time using data from the project plan and a spreadsheet. It provides examples of how to calculate and chart these values to identify if consultants are over or under budget and ahead or behind schedule. Issues that can impact the accuracy of the analysis like scope changes are also addressed.
A simple example of Earned Value Management (EVM) in actionPlanisware
The team was tasked with planting 600 trees over 5 days but encountered difficulties on the first day. They planted 70 trees which was 30 less than planned. Costs were higher than expected at $350 due to needing a machine to remove stones. Earned value was $203 but the budgeted cost was $290, resulting in negative schedule and cost variances. If performance does not improve, the project will exceed its budget and deadline. The key EVM metrics - schedule variance, cost variance, estimate at completion and budget at completion - were calculated to assess progress and risks to the project.
Earned value analysis (EVA) is a project management technique for measuring project performance and progress. It integrates scope, schedule, and cost to provide objective assessments of project status and early warning signs if a project is over budget or behind schedule. EVA requires defining the work in a work breakdown structure, establishing a performance measurement baseline, and collecting data on planned cost and schedule of work performed. Key metrics like schedule variance, cost variance, schedule performance index, and cost performance index are calculated to evaluate if a project is on track. EVA provides visibility into project performance to facilitate corrective actions if needed.
Earned value analysis (EVA) provides a standardized way to measure project performance and forecast completion by integrating measurements of schedule, budget, and work accomplished. It is needed because traditional measures of project status based on percentage complete are often subjective and can provide false conclusions. EVA compares planned work, actual work completed, and actual costs to determine if a project's cost, schedule, and work accomplished are progressing as planned. Key metrics like schedule variance, cost variance, schedule performance index, and cost performance index provide early warnings if a project is over budget or behind schedule so corrective actions can be taken. Implementing EVA requires establishing a work breakdown structure, baseline budgets, and regularly measuring work progress.
Earned value analysis (EVA) is an industry standard technique for measuring project performance and progress. It integrates measurements of the work performed, the budget spent, and the time elapsed to provide objective assessments of project status. EVA compares the planned amount of work, cost, and schedule to the actual work completed to determine if a project is progressing according to plan. By analyzing variances in cost, schedule and work accomplished, EVA enables early detection of problems to help managers take timely corrective actions to get projects back on track. While EVA requires establishing a work breakdown structure and collecting performance data, it provides consistent indicators that reduce uncertainty in project status reporting and forecasting.
Earned Value Analysis (EVA) is an industry standard method for measuring project performance and progress. It integrates measurements of the budgeted cost of scheduled work, actual costs incurred, and the value of work completed to provide cost and schedule variances. EVA requires defining the project scope through a work breakdown structure, establishing a performance measurement baseline, and measuring earned value by tracking the budgeted cost of completed work packages. The results provide consistent indicators to evaluate whether a project is on budget and on schedule, enabling corrective actions if needed.
Are Your Project Consultants Creating Less Value Than What Youre Paying Themj_hallstrom
The document discusses how earned value management can help answer questions about project budget, schedule, and the value consultants are providing by tracking the planned value, earned value, and actual cost of consultants' work over time using data from the project plan and a spreadsheet. It provides examples of how to calculate and chart these values to identify if consultants are over or under budget and ahead or behind schedule. Issues that can impact the accuracy of the analysis like scope changes are also addressed.
A simple example of Earned Value Management (EVM) in actionPlanisware
The team was tasked with planting 600 trees over 5 days but encountered difficulties on the first day. They planted 70 trees which was 30 less than planned. Costs were higher than expected at $350 due to needing a machine to remove stones. Earned value was $203 but the budgeted cost was $290, resulting in negative schedule and cost variances. If performance does not improve, the project will exceed its budget and deadline. The key EVM metrics - schedule variance, cost variance, estimate at completion and budget at completion - were calculated to assess progress and risks to the project.
Earned value analysis (EVA) is a project management technique for measuring project performance and progress. It integrates scope, schedule, and cost to provide objective assessments of project status and early warning signs if a project is over budget or behind schedule. EVA requires defining the work in a work breakdown structure, establishing a performance measurement baseline, and collecting data on planned cost and schedule of work performed. Key metrics like schedule variance, cost variance, schedule performance index, and cost performance index are calculated to evaluate if a project is on track. EVA provides visibility into project performance to facilitate corrective actions if needed.
Earned value analysis (EVA) provides a standardized way to measure project performance and forecast completion by integrating measurements of schedule, budget, and work accomplished. It is needed because traditional measures of project status based on percentage complete are often subjective and can provide false conclusions. EVA compares planned work, actual work completed, and actual costs to determine if a project's cost, schedule, and work accomplished are progressing as planned. Key metrics like schedule variance, cost variance, schedule performance index, and cost performance index provide early warnings if a project is over budget or behind schedule so corrective actions can be taken. Implementing EVA requires establishing a work breakdown structure, baseline budgets, and regularly measuring work progress.
Earned value analysis (EVA) is an industry standard technique for measuring project performance and progress. It integrates measurements of the work performed, the budget spent, and the time elapsed to provide objective assessments of project status. EVA compares the planned amount of work, cost, and schedule to the actual work completed to determine if a project is progressing according to plan. By analyzing variances in cost, schedule and work accomplished, EVA enables early detection of problems to help managers take timely corrective actions to get projects back on track. While EVA requires establishing a work breakdown structure and collecting performance data, it provides consistent indicators that reduce uncertainty in project status reporting and forecasting.
A gentle introduction to earned value management systems (neutral)Glen Alleman
Earned value management systems (EVMS) provide a framework for project managers to track schedule and budget performance. Key elements of EVMS include defining the scope of work, establishing a time-phased budget baseline, and periodically calculating metrics like cost and schedule variance to forecast project outcomes. While full ANSI standards for EVMS are complex, adopting a subset of 10 key practices around areas like work breakdown, scheduling, and cost tracking allows for a "simple" EVMS approach suitable for agile projects. Regular generation of metrics helps identify variances early to aid decision making.
A gentle introduction to earned value management systems (neutral)Glen Alleman
Earned value management systems (EVMS) provide a framework for project managers to track schedule and budget performance. Key elements of EVMS include defining the scope of work, establishing a time-phased budget baseline, and periodically calculating metrics like cost and schedule variance to forecast project outcomes. While full ANSI/EIA-748 compliance requires addressing 32 criteria, a simpler approach focuses on 10 criteria like identifying tasks, establishing budgets and schedules, and recording costs to generate regular performance metrics. EVMS gives project managers visibility into whether work is on track and whether budgets need adjustment.
The document describes a case study example of how earned value management (EVM) can be used to effectively monitor and manage a project. In the case, a project was given a budget of Rs. 1 million to produce 10 units over 18 months. After 3 months, a status report showed the team was slightly behind schedule but on budget. However, by employing EVM techniques and measuring planned value, earned value, and actual costs, it was revealed that the project was significantly over budget and behind schedule. This allowed corrective actions to be taken early to get the project back on track.
Symposium 2016 : CONF. 401 Jonathan Shriqui EVM: Go Beyond the NumbersPMI-Montréal
The document discusses key aspects of earned value management (EVM). It begins by explaining that EVM establishes a standard for project performance measurement and stakeholder management. It then outlines the three key components of EVM: time-phased budgeting, capturing work progression, and providing timely project analysis. The document also examines how leadership, strategic management, and technical project management all interact with EVM. It provides examples to illustrate EVM concepts like variances, metrics, and how EVM data can be analyzed and used for decision making. In summarizing, the document emphasizes that EVM provides both quantitative data and qualitative insights to support program control.
This document provides information on earned value analysis, a project management technique. It defines key earned value terms like budgeted cost of work scheduled, budgeted cost of work performed, and actual cost of work performed. It then calculates various earned value metrics for a construction project, including a cost variance, schedule variance, cost performance index, and schedule performance index. The analysis shows the project is under budget but behind schedule. It also calculates an estimate at completion, variance at completion, and the "to complete performance index" needed to maintain the original budget goal.
Earned value analysis (EVA) is a project management technique for measuring project performance and progress. It objectively compares the planned cost and schedule of a project to its actual cost and progress by integrating measurements of scope, schedule and cost. EVA allows project managers to forecast a project's final cost, completion date and variances in a timely manner to identify risks and take corrective actions if needed. Project managers use EVA by setting a performance measurement baseline, measuring actual work progress and costs, and calculating variances to analyze schedule and cost performance.
The simple problem of schedule performance indicesGlen Alleman
The document describes performance measurement using earned value management principles. It uses the analogy of a cycling group to explain key concepts. The planned pace of the group is the Budgeted Cost of Work Scheduled (BCWS). The actual pace is the Budgeted Cost of Work Performed (BCWP). The effort expended to maintain the actual pace is the Actual Cost of Work Performed (ACWP). If the group falls behind the planned pace, the To Complete Performance Index (TCPI) indicates how much faster they need to ride to close the gap and rejoin the lead group.
This document discusses project control processes and earned value management. It provides examples of how to build a project baseline, record actual costs and progress, calculate earned value, and use earned value metrics like CPI, SPI, ETC and EAC to estimate project completion costs and schedule. Key aspects of earned value covered include defining the planned value, earned value, actual costs, variances, and using ratios like CPI and SPI to forecast project performance and completion.
The document discusses earned value analysis, which is a project management tool used to measure project progress by comparing planned, earned, and actual values of work completed. It defines key terms like planned value, earned value, and actual cost. It describes how schedule variance, cost variance, schedule performance index, and cost performance index are calculated from these values and interpreted. An example calculation is provided to demonstrate how negative variances and indexes below 1 indicate a project is behind schedule and over budget.
The document discusses earned value management (EVM), which combines measurements of project scope, schedule, and resources to assess performance and progress. EVM integrates the scope, cost, and schedule baselines to form a performance baseline for evaluation. Key EVM terms are defined, including planned value, actual cost, earned value, and budget at completion. Variances, performance indices, estimates to complete, and estimates at completion are calculated using EVM data. Corrective actions for cost performance issues may include adjusting resources, evaluating scope creep, and ensuring prompt issue resolution.
This document provides an overview of earned value management (EVM) including its basic elements, performance analysis and forecasting, and key practices. EVM is an effective project management tool that illuminates the current status of a project compared to what was planned. It involves measuring, analyzing, and reporting on the scope, schedule, and cost of work performed. Critical data elements include planned value (budget), earned value (work completed), and actual cost. Variance, performance indices, and estimates are used to analyze schedule and cost performance and forecast project completion.
The document provides an introduction to earned value management systems (EVMS). It explains that EVMS can answer important project questions like how much budget should have been spent and how much value has been earned. It then defines key EVMS terms like budgeted cost of work scheduled, budgeted cost of work performed, and actual cost of work performed. The document uses a cookie baking example to demonstrate how to calculate earned value metrics like cost and schedule variance. It also shows how EVMS can be used to forecast project completion costs and schedule. Finally, it discusses frameworks for implementing EVMS on projects in an agile manner.
Earned value management (EVM) uses five basic elements to measure project performance and provide early warning of potential issues. These elements are: budgeted cost of work scheduled (BCWS), budgeted cost of work performed (BCWP), actual cost of work performed (ACWP), schedule variance (SV), and cost variance (CV). EVM compares the BCWP, BCWS, and ACWP to calculate variances that indicate if a project is under or over budget and ahead of or behind schedule, enabling early problem identification and corrective actions.
Earned Value AnalysisTracking Project ProgressWh.docxsagarlesley
Earned Value Analysis
Tracking Project Progress
What Is Earned Value?The dollar amount you planned to spend for the work actually completed
Earned Value is the budgeted cost of the work that has actually been performed/completed
Earned Value = Budgeted Cost of the Work Performed (BCWP)
What Is Earned Value Analysis (EVA)?
EVA enables the project progress to be tracked in terms of:
The work that has actually been completed
--- Compared To ---
The work that was scheduled to be completed
Why Is Earned Value Analysis Important?EVA enables the project team to know:If the project is ahead of, or behind schedule
How far the project is ahead of, or behind schedule
If the project is over or under budget
How much the project is over or under budget
Why Is Earned Value Analysis Important?EVA enables the team to address the project’s triple constraints earlier rather than later Scope – re-prioritize/reduce requirements
--- and/or ---
Schedule – adjust the timeline
--- and/or ---
Cost – request additional funding
The Components of Earned Value Analysis WBS – Work Breakdown StructureIdentifies products to be delivered by the project Products or sub-products should be broken down to what can be completed in 80 hours (“80-hour rule”), when applicable
Provides the basis for Distinct products or sub-products – which help to provideValid estimates – which enableTracking earned value / project progress
The Components of Earned Value Analysis Earned Value (EV) ---- or BCWPThe budgeted cost of the work actually performed How much work was actually completed
Planned Value (PV) ---- or BCWSThe budgeted cost of the work scheduled to be performed How much work should have been completed
Actual Cost (AC) ------- or ACWPThe actual cost of the work performedHow much money has been actually spent
The Components of Earned Value AnalysisBudget at Completion (BAC)Dollar amount originally budgeted to complete the project
Estimate at Completion (EAC)Estimate of dollar amount needed to complete the project
Variance at Completion (VAC)Estimate of the dollar amount projected above or below budget
Schedule at Completion (SAC)Projection of the time needed to complete the project
The Components of Earned Value Analysis
Schedule Variance (SV)The work completed vs. the work planned to be completed
SV = (Earned Value – Planned Value)
Tells us if the project is ahead of, or behind schedule
Negative value means the project is behind schedule
The Components of Earned ValueSchedule Performance Index (SPI)Utilized to forecast how long it will take to complete the project
SPI = (Earned Value / Planned Value)
Tells us if the project is ahead of, or behind schedule
Less than 1.00 means the project is behind schedule
The Components of Earned Value
Cost Variance (CV)What we planned to spend on the work completed vs. what was actually spent on the work completed
CV = (Earned Value – Actual Cost)
Tells us if the project is over or under budget ...
This document provides information on Earned Value Management (EVM) and Social Cost Benefit Analysis (SCBA). It defines EVM as a technique that uses an integrated schedule and budget to measure project performance. Key terms like Earned Value, Planned Value, and Actual Cost are defined. It also outlines the benefits of EVM and calculations used, including schedule and cost variances. SCBA is defined as analyzing the direct/indirect economic and social impacts of a project on a society. Objectives and criteria for SCBA are described, including establishing the net social benefit and using a social discount rate.
Earned value analysis is a project management technique that compares the planned value of work completed to the actual cost of that work. It measures three key values: budgeted cost of work scheduled (BCWS), actual cost of work performed (ACWP), and budgeted cost of work performed (BCWP). Variances and indices calculated from these values help project managers determine if a project is on budget and on schedule. The analysis is done for each task and then rolled up to evaluate the overall project status based on a selected status date.
Program Management 2.0: Work Breakdown StructureJohn Carter
From a course titled Program Management 2.0, this presentation pulls together a suite of tools for creating a Work Breakdown Structure - which is very helpful for tracking the true project a project is making. It lends itself to also communicate the earned value of a project - so teams and managers can see what is done, and what is left to do.
A gentle introduction to earned value management systems (neutral)Glen Alleman
Earned value management systems (EVMS) provide a framework for project managers to track schedule and budget performance. Key elements of EVMS include defining the scope of work, establishing a time-phased budget baseline, and periodically calculating metrics like cost and schedule variance to forecast project outcomes. While full ANSI standards for EVMS are complex, adopting a subset of 10 key practices around areas like work breakdown, scheduling, and cost tracking allows for a "simple" EVMS approach suitable for agile projects. Regular generation of metrics helps identify variances early to aid decision making.
A gentle introduction to earned value management systems (neutral)Glen Alleman
Earned value management systems (EVMS) provide a framework for project managers to track schedule and budget performance. Key elements of EVMS include defining the scope of work, establishing a time-phased budget baseline, and periodically calculating metrics like cost and schedule variance to forecast project outcomes. While full ANSI/EIA-748 compliance requires addressing 32 criteria, a simpler approach focuses on 10 criteria like identifying tasks, establishing budgets and schedules, and recording costs to generate regular performance metrics. EVMS gives project managers visibility into whether work is on track and whether budgets need adjustment.
The document describes a case study example of how earned value management (EVM) can be used to effectively monitor and manage a project. In the case, a project was given a budget of Rs. 1 million to produce 10 units over 18 months. After 3 months, a status report showed the team was slightly behind schedule but on budget. However, by employing EVM techniques and measuring planned value, earned value, and actual costs, it was revealed that the project was significantly over budget and behind schedule. This allowed corrective actions to be taken early to get the project back on track.
Symposium 2016 : CONF. 401 Jonathan Shriqui EVM: Go Beyond the NumbersPMI-Montréal
The document discusses key aspects of earned value management (EVM). It begins by explaining that EVM establishes a standard for project performance measurement and stakeholder management. It then outlines the three key components of EVM: time-phased budgeting, capturing work progression, and providing timely project analysis. The document also examines how leadership, strategic management, and technical project management all interact with EVM. It provides examples to illustrate EVM concepts like variances, metrics, and how EVM data can be analyzed and used for decision making. In summarizing, the document emphasizes that EVM provides both quantitative data and qualitative insights to support program control.
This document provides information on earned value analysis, a project management technique. It defines key earned value terms like budgeted cost of work scheduled, budgeted cost of work performed, and actual cost of work performed. It then calculates various earned value metrics for a construction project, including a cost variance, schedule variance, cost performance index, and schedule performance index. The analysis shows the project is under budget but behind schedule. It also calculates an estimate at completion, variance at completion, and the "to complete performance index" needed to maintain the original budget goal.
Earned value analysis (EVA) is a project management technique for measuring project performance and progress. It objectively compares the planned cost and schedule of a project to its actual cost and progress by integrating measurements of scope, schedule and cost. EVA allows project managers to forecast a project's final cost, completion date and variances in a timely manner to identify risks and take corrective actions if needed. Project managers use EVA by setting a performance measurement baseline, measuring actual work progress and costs, and calculating variances to analyze schedule and cost performance.
The simple problem of schedule performance indicesGlen Alleman
The document describes performance measurement using earned value management principles. It uses the analogy of a cycling group to explain key concepts. The planned pace of the group is the Budgeted Cost of Work Scheduled (BCWS). The actual pace is the Budgeted Cost of Work Performed (BCWP). The effort expended to maintain the actual pace is the Actual Cost of Work Performed (ACWP). If the group falls behind the planned pace, the To Complete Performance Index (TCPI) indicates how much faster they need to ride to close the gap and rejoin the lead group.
This document discusses project control processes and earned value management. It provides examples of how to build a project baseline, record actual costs and progress, calculate earned value, and use earned value metrics like CPI, SPI, ETC and EAC to estimate project completion costs and schedule. Key aspects of earned value covered include defining the planned value, earned value, actual costs, variances, and using ratios like CPI and SPI to forecast project performance and completion.
The document discusses earned value analysis, which is a project management tool used to measure project progress by comparing planned, earned, and actual values of work completed. It defines key terms like planned value, earned value, and actual cost. It describes how schedule variance, cost variance, schedule performance index, and cost performance index are calculated from these values and interpreted. An example calculation is provided to demonstrate how negative variances and indexes below 1 indicate a project is behind schedule and over budget.
The document discusses earned value management (EVM), which combines measurements of project scope, schedule, and resources to assess performance and progress. EVM integrates the scope, cost, and schedule baselines to form a performance baseline for evaluation. Key EVM terms are defined, including planned value, actual cost, earned value, and budget at completion. Variances, performance indices, estimates to complete, and estimates at completion are calculated using EVM data. Corrective actions for cost performance issues may include adjusting resources, evaluating scope creep, and ensuring prompt issue resolution.
This document provides an overview of earned value management (EVM) including its basic elements, performance analysis and forecasting, and key practices. EVM is an effective project management tool that illuminates the current status of a project compared to what was planned. It involves measuring, analyzing, and reporting on the scope, schedule, and cost of work performed. Critical data elements include planned value (budget), earned value (work completed), and actual cost. Variance, performance indices, and estimates are used to analyze schedule and cost performance and forecast project completion.
The document provides an introduction to earned value management systems (EVMS). It explains that EVMS can answer important project questions like how much budget should have been spent and how much value has been earned. It then defines key EVMS terms like budgeted cost of work scheduled, budgeted cost of work performed, and actual cost of work performed. The document uses a cookie baking example to demonstrate how to calculate earned value metrics like cost and schedule variance. It also shows how EVMS can be used to forecast project completion costs and schedule. Finally, it discusses frameworks for implementing EVMS on projects in an agile manner.
Earned value management (EVM) uses five basic elements to measure project performance and provide early warning of potential issues. These elements are: budgeted cost of work scheduled (BCWS), budgeted cost of work performed (BCWP), actual cost of work performed (ACWP), schedule variance (SV), and cost variance (CV). EVM compares the BCWP, BCWS, and ACWP to calculate variances that indicate if a project is under or over budget and ahead of or behind schedule, enabling early problem identification and corrective actions.
Earned Value AnalysisTracking Project ProgressWh.docxsagarlesley
Earned Value Analysis
Tracking Project Progress
What Is Earned Value?The dollar amount you planned to spend for the work actually completed
Earned Value is the budgeted cost of the work that has actually been performed/completed
Earned Value = Budgeted Cost of the Work Performed (BCWP)
What Is Earned Value Analysis (EVA)?
EVA enables the project progress to be tracked in terms of:
The work that has actually been completed
--- Compared To ---
The work that was scheduled to be completed
Why Is Earned Value Analysis Important?EVA enables the project team to know:If the project is ahead of, or behind schedule
How far the project is ahead of, or behind schedule
If the project is over or under budget
How much the project is over or under budget
Why Is Earned Value Analysis Important?EVA enables the team to address the project’s triple constraints earlier rather than later Scope – re-prioritize/reduce requirements
--- and/or ---
Schedule – adjust the timeline
--- and/or ---
Cost – request additional funding
The Components of Earned Value Analysis WBS – Work Breakdown StructureIdentifies products to be delivered by the project Products or sub-products should be broken down to what can be completed in 80 hours (“80-hour rule”), when applicable
Provides the basis for Distinct products or sub-products – which help to provideValid estimates – which enableTracking earned value / project progress
The Components of Earned Value Analysis Earned Value (EV) ---- or BCWPThe budgeted cost of the work actually performed How much work was actually completed
Planned Value (PV) ---- or BCWSThe budgeted cost of the work scheduled to be performed How much work should have been completed
Actual Cost (AC) ------- or ACWPThe actual cost of the work performedHow much money has been actually spent
The Components of Earned Value AnalysisBudget at Completion (BAC)Dollar amount originally budgeted to complete the project
Estimate at Completion (EAC)Estimate of dollar amount needed to complete the project
Variance at Completion (VAC)Estimate of the dollar amount projected above or below budget
Schedule at Completion (SAC)Projection of the time needed to complete the project
The Components of Earned Value Analysis
Schedule Variance (SV)The work completed vs. the work planned to be completed
SV = (Earned Value – Planned Value)
Tells us if the project is ahead of, or behind schedule
Negative value means the project is behind schedule
The Components of Earned ValueSchedule Performance Index (SPI)Utilized to forecast how long it will take to complete the project
SPI = (Earned Value / Planned Value)
Tells us if the project is ahead of, or behind schedule
Less than 1.00 means the project is behind schedule
The Components of Earned Value
Cost Variance (CV)What we planned to spend on the work completed vs. what was actually spent on the work completed
CV = (Earned Value – Actual Cost)
Tells us if the project is over or under budget ...
This document provides information on Earned Value Management (EVM) and Social Cost Benefit Analysis (SCBA). It defines EVM as a technique that uses an integrated schedule and budget to measure project performance. Key terms like Earned Value, Planned Value, and Actual Cost are defined. It also outlines the benefits of EVM and calculations used, including schedule and cost variances. SCBA is defined as analyzing the direct/indirect economic and social impacts of a project on a society. Objectives and criteria for SCBA are described, including establishing the net social benefit and using a social discount rate.
Earned value analysis is a project management technique that compares the planned value of work completed to the actual cost of that work. It measures three key values: budgeted cost of work scheduled (BCWS), actual cost of work performed (ACWP), and budgeted cost of work performed (BCWP). Variances and indices calculated from these values help project managers determine if a project is on budget and on schedule. The analysis is done for each task and then rolled up to evaluate the overall project status based on a selected status date.
Program Management 2.0: Work Breakdown StructureJohn Carter
From a course titled Program Management 2.0, this presentation pulls together a suite of tools for creating a Work Breakdown Structure - which is very helpful for tracking the true project a project is making. It lends itself to also communicate the earned value of a project - so teams and managers can see what is done, and what is left to do.
Let's Integrate MuleSoft RPA, COMPOSER, APM with AWS IDP along with Slackshyamraj55
Discover the seamless integration of RPA (Robotic Process Automation), COMPOSER, and APM with AWS IDP enhanced with Slack notifications. Explore how these technologies converge to streamline workflows, optimize performance, and ensure secure access, all while leveraging the power of AWS IDP and real-time communication via Slack notifications.
Unlock the Future of Search with MongoDB Atlas_ Vector Search Unleashed.pdfMalak Abu Hammad
Discover how MongoDB Atlas and vector search technology can revolutionize your application's search capabilities. This comprehensive presentation covers:
* What is Vector Search?
* Importance and benefits of vector search
* Practical use cases across various industries
* Step-by-step implementation guide
* Live demos with code snippets
* Enhancing LLM capabilities with vector search
* Best practices and optimization strategies
Perfect for developers, AI enthusiasts, and tech leaders. Learn how to leverage MongoDB Atlas to deliver highly relevant, context-aware search results, transforming your data retrieval process. Stay ahead in tech innovation and maximize the potential of your applications.
#MongoDB #VectorSearch #AI #SemanticSearch #TechInnovation #DataScience #LLM #MachineLearning #SearchTechnology
Introducing Milvus Lite: Easy-to-Install, Easy-to-Use vector database for you...Zilliz
Join us to introduce Milvus Lite, a vector database that can run on notebooks and laptops, share the same API with Milvus, and integrate with every popular GenAI framework. This webinar is perfect for developers seeking easy-to-use, well-integrated vector databases for their GenAI apps.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
UiPath Test Automation using UiPath Test Suite series, part 6DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
In the rapidly evolving landscape of technologies, XML continues to play a vital role in structuring, storing, and transporting data across diverse systems. The recent advancements in artificial intelligence (AI) present new methodologies for enhancing XML development workflows, introducing efficiency, automation, and intelligent capabilities. This presentation will outline the scope and perspective of utilizing AI in XML development. The potential benefits and the possible pitfalls will be highlighted, providing a balanced view of the subject.
We will explore the capabilities of AI in understanding XML markup languages and autonomously creating structured XML content. Additionally, we will examine the capacity of AI to enrich plain text with appropriate XML markup. Practical examples and methodological guidelines will be provided to elucidate how AI can be effectively prompted to interpret and generate accurate XML markup.
Further emphasis will be placed on the role of AI in developing XSLT, or schemas such as XSD and Schematron. We will address the techniques and strategies adopted to create prompts for generating code, explaining code, or refactoring the code, and the results achieved.
The discussion will extend to how AI can be used to transform XML content. In particular, the focus will be on the use of AI XPath extension functions in XSLT, Schematron, Schematron Quick Fixes, or for XML content refactoring.
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2. Today’s Situation
Need for accurate and consistent status
information
Numerous complex (and interrelated) projects
Projects with many WBS activities
Virtual offices
Diverse technology platforms
2
3. There’s Room For Improvement
70% of projects are:
•Over budget
•Behind schedule
52% of all projects finish at
189% of their initial budget
And some, after huge investments
of time and money, are simply never
comple
3
Source:The Standish Group
4. How to answer the question:
“Have we done what we said we’d do?”
% complete estimating
% of Budget spent
% of work done
% of time elapsed
subjective, incomplete
draws false conclusions
4
5. Enter Earned Value Analysis
“Earned Value Analysis” is:
• an industry standard way to:
• measure a project’s progress,
• forecast its completion date and final cost, and
• provide schedule and budget variances along the
way.
By integrating three measurements, it provides
consistent, numerical indicators with which you can
evaluate and compare projects.
5
6. What’s more Important?
Knowing where you are
on schedule?
Knowing where you are
on budget?
Knowing where you are
on work accomplished?
6
7. EVA Integrates All Three
It compares the PLANNED amount of work
with what has actually been COMPLETED, to
determine if COST , SCHEDULE, and WORK
ACCOMPLISHED are progressing as
planned.
Work is “Earned” or credited as it is
completed.
7
8. Earned Value needed because...
Different measures of progress for
different types of tasks
Need to “roll up” progress of many
tasks into an overall project status
Need for a uniform unit of measure
(dollars or work-hours).
8
9. Earned Value needed because...
Provides an “Early Warning” signal for prompt
corrective action.
Bad news does not age well.
Still time to recover
Timely request for additional funds
9
11. Because You Gotta !
These Set the Stage:
GPRA; 1993
FASA, Title V; 1994
Clinger-Cohen Act; 1996
And Then Along Came OMB! (Circular A-11, Part 7)
"Agencies must use a performance based acquisition
management system, based on ANSI/EIA Standard
748, to measure achievement of the cost, schedule,
and performance goals."
11
13. So, Is This Stuff New ?
It’s been around since the sixties.
“Cost/Schedule Control Systems Criteria”
(C/SCSC)
13
14. Examples of informal Earned Value
Analysis
It’s done informally without realizing it.
•30% time used,
•30% $$ spent
•So, if 30% of the work is done, I must be OK ??
•Shop floor estimates
•Cost comparisons
Budget vs. Actual
14
17. But First! - We gotta get organized
EVA works best when work is ‘compartmentalized’.
Compartmentalization is best achieved with a well-
planned Work Breakdown Structure.
So, how do I create a WBS for a really complex
project?
17
18. How am I gonna eat this elephant?
Obviously in small bites.
18
19. Proper WBS Design
One WBS per program
• Deliverable-oriented
• Work not in the WBS is out-of-scope
• Each descending level represents more detail
Full (and accurate) definition is key
• Defined deliverable(s)
• Timeframe for delivery of product
• Total cost (direct and indirect) to deliver product
Let’s Look at an example: 19
20. A sample Work Breakdown Structure
Serve Pizzas to Customers
Provide the Place Cook the Food Serve Customers (Others)
Make the Dough Cook the Sauce Build the Pizza
20
21. WBS Units are “Work Packages”
Lowest level WBS elements
Have an accompanying narrative
Have three measurable components
• Scope of work to be accomplished
• Total (direct and indirect) cost
• Timeframe for completion
21
22. Control Account Plans
A CAP is essentially a Work Package with some added
features:
Assignment of responsibility
• Organization
• Individual
Division (if necessary) into lower-level Work
Packages.
Metrics for measuring EV performance
• Milestones
• % complete
• Other
The sum of the CAPs constitutes the Performance
Measurement Baseline 22
23. Enough With the WBS Stuff
Already !
We came here to talk about Earned Value.
23
24. Some New Terms
BCWS - Budgeted Cost of Work
Scheduled
ACWP - Actual Cost of Work Performed
BCWP - Budgeted Cost of Work
Performed
24
25. Earned Value Definitions
BCWS: “Budgeted Cost of Work Scheduled”
Planned cost of the total amount of work scheduled
to be performed by the milestone date.
25
32. Some Derived Metrics
SV: Schedule Variance (BCWP-BCWS)
A comparison of amount of work performed during a
given period of time to what was scheduled to be
performed.
A negative variance means the project is behind
schedule
CV: Cost Variance (BCWP-ACWP)
A comparison of the budgeted cost of work
performed with actual cost.
A negative variance means the project is over
budget.
32
34. Some More Derived Metrics
SPI: Schedule Performance Index
SPI=BCWP/BCWS
SPI<1 means project is behind schedule
CPI: Cost Performance Index
CPI= BCWP/ACWP
CPI<1 means project is over budget
CSI: Cost Schedule Index (CSI=CPI x SPI)
The further CSI is from 1.0, the less likely project
recovery becomes.
34
36. Making Projections
Once a project is 10% complete, the
overrun at completion will not be less
than the current overrun.
Once a project is 20% complete,
the CPI does not vary from its current
value by more
than 10%.
The CPI and SPI are statistically accurate indicators of
final cost results.
Source: Defense Acquisition University
36
38. Estimate to Complete
140000
120000 116,571
100000 102000
Today BCWS
80000
BCWP
60000
ACWP
40000
20000
0 03
03
04
3
4
3
03
3
-0
-0
l-0
-0
v-
n-
n-
p-
ar
ar
ay
Ju
No
Ja
Ja
Se
M
M
M
38
39. A New Criteria
Activities “earn value” as they are completed.
The value earned is the WBS budgeted cost of the
activity completed to date.
39
40. Value of Earned Value
Schedule Status Reporting
Cost Status Reporting
Forecasting
40
41. But How Do I Do All This Stuff ?
With an Earned Value Management System
41
42. A-11, Part 7 Requires an EVMS
“ . . . based on ANSI/EIA Standard 748”
And what does that mean?
ANSI/EIA 748 provides a list of guidelines
•Organization
•Planning, Scheduling, and Budgeting
•Accounting Considerations
•Analysis and Management Reports
•Revisions and Data Maintenance
But, ANSI/EIA 748 doesn’t identify ‘approved
systems’
42
43. A-11, Part 7 Requires an EVMS
So where do I get one?
Buy a prepackaged one. (Lot of ‘em around)
Make your own.
•Microsoft Project
•Microsoft Excel
Or it could be as simple as this:
43
44. Requirements of Earned Value
Proper WBS Design
Baseline Budget Control Accounts
Baseline Schedule
Work measurement by Control Account
work-hours, dollars, units, etc.
Good Project Management Practices
44
45. Shortcomings of Earned Value
Quantifying/measuring work progress
can be difficult.
Time required for data measurement,
input, and manipulation can be
considerable.
45
46. Summary
EVA & EVMS will help reduce guesswork in:
Measuring performance
forecasting
Need to get beyond misleading measures of
progress.
Reasons to use EVA and EVMS:
Good project management practice
OMB requirement
Incorporate into contracts
46
(2) Those three measurements are: time expired work accomplished money spent
(2) Thus the name Earned Value; you can actually assign a VALUE to the project at a particular time
GIPRA – (performance measures): clearly define missions, set realistic goals, and report on accomplishments. FASA – Said you had to meet 90% of your goals (cost, schedule, and performance) Clinger-Cohen Act - Tried to ensure that IT investments aligned with mission goals and that they are properly justified (also tried to ensure that systems are secure) Change to A-11 in July 2002 (A real shot across the bow)
Was developed by DoD (As are many very specific metrical techniques. You know, they like for everybody to be: walking in step counting cadence together calling out the same number, at the same time. Was in response to a need to keep track of very large and very complex contracts.
We’re looking at a year-long project; Comparing our budget with our expenditures, Complete through about July, and we don’t appear to be TOO far off track. BUT, what we don’t know is: How much WORK have we gotten done? How tough - in terms of BOTH time and money - will it be to get back on track?
The more complex the project, the more difficult it is to tell where you are.
The WBS should describe What is to be done When it is to be completed How much it will cost
WBS needs to be broken down into manageable, meaningful pieces. The danger here is in getting them too small.
The Work Package needs to be of the size that it can be handed off to a task manager. Too large and you have multiple people responsible for the work. Too small and the program manager winds up micro-managing everything. The “accompanying narrative” is really an SOW – or Statement of Work.
If you get into EVA in depth, you may here about a CAP. Previously called Cost Account Plan .
That’s probably the shortest course on Work Breakdown Structure you’ll ever see. (And maybe the longest you’ll ever want to see.) OK, let’s look at some real Earned Value stuff.
The Work Package needs to be of the size that it can be handed off to a task manager. Too large and you have multiple people responsible for the work. Too small and the program manager winds up micro-managing everything. The “accompanying narrative” is really an SOW – or Statement of Work.
Sort of looks like the “planned” line doesn’t it? At this point, that’s all it is. We’re looking at how we expect to perform for the year.
This is simply the actual cost to date.
And here’s that dreaded actual vs. planned situation. Well the project is “somewhat” over cost. “ Somewhat” could have a lot of different meanings. So far we’ve spent 56K when we should have spent 49K. OK, we’re 7K over budget, is that bad? Well, let’s find out how bad.
The next factor is BCWP and this is the factor that rounds out EVA and makes it possible to capture the full picture of where the project stands. Note that this is the cost of the work performed and,it is the budgeted amount, not the actual amount.
SO, we’re about half-way through the year now, and you can see that the Budgeted cost of Work Performed is less than the Budgeted Cost of Work Scheduled . What does this mean? It doesn’t mean that we’ve spent less than we planned. Your looking at the cost of what should have been done . The project is behind schedule. The significance of this situation becomes a lot clearer when you combine cost performance with schedule performance on one chart.
And here’s the full picture. The project is over budget by a thousand dollars. We’ve only gotten 49 thousand dollars worth of work down. And what does that mean? - - - (we’re behind schedule.) So what does all this mean? Well, pay particular attention to the comparison of ACWP compared to BCWP.
Oh Boy! Some derived metrics – you were all waiting for some of those, weren’t you? Cost Variance and Schedule Variance are simply arithmetic differences of where we are and where we should be.
Simple arithmetic. We’ve accomplished $6,000 worth of output less than we should have And we’re $7,000 over budget We need some more derived metrics.
Well, we know we’re behind schedule and over cost, and we know exactly much for each one, but so what ? Well, now we can begin to integrate these two pieces of information and get an overall picture. The Performance Indices are really just a way of calculating, on a percentage basis, where we are. SPI CPI But now, when we combine the two, the percentage figure becomes more significant.
Too many numbers! OK, we’re performing at about 89% of where we should be on performance, our cost performance is a little worse, But look at the impact when you combine the two! What do we do now?
Unlike the stock market, in the program management world, Past Performance is an indicator of future results. Let’s take a look at what this would mean for our sample project.
We can expect to finish the year having spent a bit more than was budgeted. But look at the ACWP curve: We have only delivered 89% of the product but we’ve spent everything we had, plus more. Final line? Without a change in performance, we would have to spend an additional 28% of our budget to complete the job. Why 28% when we’re only 11% behind? Because our Cost/Schedule Index says we will only be able to perform to a 78% level, and we’ll continue to fall behind.
Prepackaged EVMS may not fit in terms of level of WBS task description (SOW) flexibility for a variety of projects Microsoft Project 2002 purported to support EVA Calculations are simple in and of themselves.
You need the WBS structure to be able to quantify output (what is the deliverable?) Baselines provide a measuring stick. And if there are not good management practices in place, it won’t work.
OMB requirements are going to be strongly focused on Project Management and Performance Measurement But Earned Value makes sense without OMB’s motivation OMB’s requirement applies specifically to contractors.