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Hi Alllll
I urgently Need to understand How to produce KPI, Earned Value and Progress reports. Please could Any one send me sample or samples of a Standard version acceptable in the Industry.... Or refer me to where i can learn to generate a standard Version of these reports inconjuction to Primavera P6 generated Projects..... Pleaseeeeeeeee and pleaseeeeeeeeeeeeeee
Thanksssssss Guy i know u will help me out......
cheers
Geoff
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Geoffrey,
In P6 first set your Earned Value Calculations settings correctly on the EV calcs tab on the projects screen. Depending on the WBS section you are selecting, will drive which option you choose. For instance, LOE's require the use of the ETC=remaing cost option. This is because LOEs should only earn a 1 for 1. They should never be ahead or behind in performance. Other WBS sections such as discrete engineering activities will need one of the others. Unless, you can get remaining hours per role, per activity, from your PMs this is the typical way of setting it up.
Next make sure you've budgeted down to the activity level. This provides a more accurate spread of costs over time. I would recommend each discrete engineering type of activity to be set to physical % complete which is based upon some measurable methodology. Ensure your planned start and finish for resources matches the start and finish for the activities. Otherwise you'll have some strange looking S-curves later on and you'll be wondering why.
Then once fully resource loaded you can baseline the schedule. I like to make a copy of the schedule baseline and place it in a separate node for backup and baseline review purposes. Also export the baseline out just for safe keeping.
You can either collect actual costs at the activity level or at the WBS level. If you choose the latter option, just keep in mind your Earned Value will only roll up the WBS level. This is due to not having your actual costs at the same level as your budget. Collect and enter all schedule status and properly status the LOEs. Review your EV, ETC, EAC, VAR, SPI and CPI for quality. Doing this will reveal many mistakes in reporting.
Create EV layouts using the earned value columns and fields and you're done!
Thanks,
Scott Chumley, PMP
Check out my blog! Soon I will have P6 training videos and a huge templates download warehouse.
Hi Geoffrey,
You may want to try our software, Acumen Fuse, which can calculate EV, SV, CV etc. for the project as a whole, or for specific groupings of activities (such as WBS or Resource) or specific phases. See the screenshot below or download a free trial at www.projectacumen.com/fuse.
Hello,
Honestly I do highly advice you to take this course by Mr Walter Lipke:
http://www.4pmti.com/earnedvaluemanagment.aspx
I am sure it will do you a lot of good.
Best Regards
Roland
Thanks Guys for all your help I finally found a solution to Generating Earned Value in P6......... Should in case u guys need Help generating Earned Value in Primavera P6.....
http://www.ims-web.com/about-ims/events/past-events/earned-value-basics-...
Register and login A webseminar will Guide you through....
cheers Thanks for all your Effprt once Again your all Far too Kind
@ Geoffrey et al,
Two other very good resources you should consider adding to your library in support of Earned Value is the GAO's "Cost Estimating and Assessment Guide- Best Practices for Developing and Managing Capital Program Costs" http://www.gao.gov/new.items/d093sp.pdf and the scathing report that Glenn Butts published on his work at NASA. http://pmchallenge.gsfc.nasa.gov/docs/2010/Presentations/Glenn.Butts%20-%20Mega%20Projects%20Estimates.pdf
Why do I recommend these? Because the validity of Earned Value is predicated on having an ACCURATE and RELIABLE cost estimate. Without a baseline estimate (BCWS or PV) which is accurate and a schedule that truly reflects how the project team intends to execute it, then the EVM metrics and KPI's generated by using P6 (or any other software tool) will be useless.
Two other articles you may find of interest are:
Activity Based Costing (ABC) - The Other Side of the Earned Value Coin?http://www.pmforum.org/library/papers/2007/PDFs/Giammalvo-5-07.pdf
Earned Value- A Leading Indicator of Clean Governance?http://www.pmforum.org/library/papers/2007/PDFs/Giammalvo-4-07.pdf
@ Geoffrey,
The Primavera website offers all kinds of manuals and white papers on how to use their software tool to generate reports. But what you will find is generating the reports is fairly simple and straight forward. The real challenge is INTERPRETING what the gauges show you and guiding you in making management decisions based on what those gauges show.
My best advice would be to purchase Gary Humphrey's "Project Management Using Earned Value Management". https://humphreys-assoc.com/product_view.php?product_id=3 That is without question IMPO, the best single source on project management that I have ever seen. (FWIW, I wouldn't waste any time with PMI's PMBOK Guide or their Earned Value Standard) If you want to learn all the formulae, the best single source (also free) is the DAU Gold Card https://acc.dau.mil/adl/en-US/19577/file/53597/Gold%20Card%20September%202010.pdf
If you are serious about project controls (a.k.a. Project Management Office or PMO) then I would urge you to consider one or more of the AACE professional certifications. http://www.aacei.org/educ/cert/certExplained.shtml From your brief cry for help, you probably would be interested in the Planning and Scheduling Professional (PSP) http://www.aacei.org/educ/cert/PSP or the Earned Value Professional (EVP) http://www.aacei.org/educ/cert/EVP/credential.
Bottom line Geoffrey- Always keep in mind that software is NOT a solution. It is only a tool. And "a fool with a tool is still a fool". Do not think that learning how to run a piece of software will solve anything unless you know how to USE what the software shows you.
BR,
Dr. PDG, Jakarta, Indonesia
http://www.build-project-management-competency.com
Hi Guys, I am new in this site. I never thought a site like this actually exist. and it feels good.. because most of the time projects here in the Philippines only have one planner in a project. And ihave no one to talk on matters in planning and scheduling. Specially if your counter part in the contractor side don't know how to speak English(pure chinesewho needs interpreter). Anyway, I am a Planner by accident, because our planner suddenly took another job. And I filled the shoes. Nevertheless, I had always been in Project Management, Project Coordination and Control. Also taking up Master's degree in Management. EventhoughPrimavera is just a tool, its was hard to start . Started from scratch a year ago (with no formal training), and as of now ifeel imdoing progress. But I have no one to compare with. That's why I hope ican learn much from here. First:
Cost Variance (CV); CV=EV-CV>0, spending less than planned
Whereas;
Earned Value (EV) = Budgeted Cost of Work Performed (BCWP)
= Budget X Work Performed
Actual Cost (AC) = Actual Cost of Work Performed (ACWP)
= Actual Cost to Date
(Payment and Billing Status)
Schedule Variance (SV); SV=EV-PV>0, ahead of schedule
Whereas;
Earned Value (EV) = Budgeted Cost of Work Performed (BCWP)
= Budget X Work Performed
Planned Value (PV) = Budgeted Cost of Work Schedule (BCWS)
= Budget X Scheduled Work to Complete
Hope this helps
I hope you guys would be helpful for issues i might raise.. more power to all.
Your best bet is to search the internet to be honest for Earned Value
The trick with EV is that you need to understand exactly what you are trying to acheive before trying to implenment it
Take a look at this website Bluevisions
and read, Asessing the Performance of Road Construction Projects
Good luck
Email: PPadmin@planningplanet.com
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