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Earned Value Analysis is a methodology for determining cost and schedule performance of a project by comparing planned work with accomplished work in terms of the dollar value assigned to the work. This template will help you do just that.
This Excel sheet performs the calculation for earned value and earned schedule analysis. The forecast resulting from all KPIs [time-based SPI, CPI, CPI (internal), CPI (external) and WPI] is calculated based on the different forecast methods proposed by A Guide to the Project Management Body of Knowledge (PMBOK® Guide). The user can choose which method shall be used for each KPI.
Earned Value Management (EVM) is essential to project success. It is used extensively in the Department of Defense (DOD) and construction industries but not in the IT industry. This webinar focuses on applying EVM to large IT projects. It will present: a brief overview of the EVM fundamentals; why EVM is not used on large IT projects; how to create a baseline for the project; what a rolling wave is and how to use it; and the benefits of using EVM on large IT projects.
The basic premise of EVM is that we can assign a value to each task. We can then determine the progress that we have made on our project relative to schedule by comparing the amount of work completed with the amount of work planned to have been completed at the reporting date, and the progress relative to budget by comparing the amount of money that we have actually spent with the amount of money that we planned to spend.
Earned Value Management (EVM) is the systematic integration and measurement of technical (scope), schedule, and cost accomplishments in a project or task. EVM provides both the public and private industries the ability to examine detailed schedule information, critical program data, technical milestones, and costs. The EVM System is an integrated set of documented processes, procedures, and applications that describe how the system owner is using EVM for managing projects. An EVMS Validation Review verifies that the EVMS processes and disciplines are being used by the project team as well as producing accurate and valid EVM performance data for informed management decisions
The webinar is the first of two lessons and will provide an overview of an Earned Value Management System (EVMS).
The webinar is the second of two lessons and describes how to setup the WBS, schedule, budget, cost breakdown structure and organization breakdown structure to support the EVMS.