Maximize Adaptability and Minimize Risk with Hybrid Project Management
February 26,2025 | Live Webinar
Easy as Pie
Dr. Andrew Makar is an IT program manager and is the author of the Microsoft Project Made Easy series. For more project management advice, visit the website TacticalProjectManagement.com.
For the past three articles, I've discussed earned value theory and its application using MS-Project. If you've adopted earned value and incorporated it into your status reviews, a tendency to track each week's earned value metrics emerges. Once earned value is institutionalized in your status review process, your customers, sponsors and senior management will want to know how the project has progressed each week.
Whenever management requests metrics on a process or asks project managers to track anything, a spreadsheet emerges as the defacto standard for management metrics. Before you go off and develop your own spreadsheet to track earned value, review the attached template that provides an easy-to-use format that calculates all the metrics I discussed in my previous articles and a few new metrics. All you need to do is provide three simple numbers: planned value (PV), earned value (EV) and actual cost (AC).
The ezEVA template is separated into four tabs: Instructions, Definitions, ezEVA Worksheet and the EVA Chart. The Instructions and Definitions are self explanatory and summarize the definitions discussed in the previous articles. The ezEVA Worksheet is the historical log used to track earned value metrics over the length of the project. The ezEVA Worksheet tab contains three key sections: Project Information, EVA Status Options and EVA Data Table. Figure 1 …
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