Jul 19, 2019 9:05 AM
Replying to Paul Azanor
...
For Real Time application:
EVM forcasting tools for project progress reporting
Assumptions: You have the following already done.
1. WBS has been used to capture ALL the project scope of work with control accounts identified.
2.Budget (BAC) is spread out or TIME PHASED using excel sheet in accordance with project schedule and funding requirement.
3.In the same excel sheet there is a row each for PV and PV (cumulative)
4.Next row directly below there is a row each for EV and EV (cumulative)
5.Next row directly below there is a row each for AC and AC (cumulative)
Once all that is set up and prior to project start, the PV and PV (cumulative ) row is updated over the period of time till project completion date. Note the cumulative PV will be equal to BAC for the last entry.
Once project commence, request for the actual cost and begin to update EV & EV(cumulative),with AC and AC (cumulative)
These are the details required to forecast cost using these formulars depending on the present circumstances. For any period under review you can determine the CPI and SPI to see how project is performing.
Case 1: Applies for use to forecast EAC when CPI is constant
Case 2: Applies when original budget is flawed and a new estimate to complete is required. This is where WBS comes in handy.
Case 3: Applies assuming work remaining will be completed at the original budget rate
Case 4: Applies when CPI and SPI are relevant and will weigh in to give final project outcome
