You can also use different rules for your EV calculation.
0/100
50/100
weighted
by steps
Once you use P3e, you dont want to turn back and now they have version 4.0 in the market very soon. Another big step forward for Entreprise Project Management
Since you are already working in P3, this is just in case you will encounter using MSP in the future.
In MSP 2003, you have an option to use either % Complete and Physical % Complete. % Complete uses the same formula as in P3 while Physical % Complete, you can model your Earned Value calculations.
Hope this could help. I wonder if P3 or P3e has a similar feature?
The curve is important in the schedule/cash flow preparation as is telling you when You will earn the quantity and then most important the money (BCWS).
With this You will built up Your cash flow, that will be the baseline for the earned value analysis.
The actual values are the ones real earned on site, so meters of duct layed, cubic meters of concrete poured and so on, with their real cost (ACWP).
Their temporal distribution can be different from the one You model in your schedule.
In response to elaborate that earned value is a function of cost & % complete.
On % Complete, the formula used by P3 is (OD-RD)/RD
for example if OD is 10 days and it is already 50%, the formula for this is (10-5)/10=50%
If you have a Budgeted Cost at $10,000.00, the earned value is 50%*$10,000.00 = $5,000.00.
What you are asking is a function of milestone event which has a pre-calculated values for every stage of the documentation process. What i do in this case is to prepare a separate curve in excel for this because this situation is not the way P3 is calculating the EV. As what i have mentioned this is called a billing curve not earned value as defined in P3.
I hope this is a clear explanation on the concept for EV.
I suggest to put in P3 a high level engineering schedule supported by a document register from which P3 take the info. In this way You can keep record of the various step, have the S-curve and claim the right quantity in the same time the S-curve produce by the document register should be the same of the one in P3.
Same issue for the procurement, but a little more complicated as normally You have to take in consideration that a huge quantity of deliverables can not reach the IFC status without some information from the vendors.
See electrical load, pipe arrangment, isometrics, etc ...
But again put down a high level schedule for procurement and with a procurement log track You keep progress for each procurement items of the steps for which You are paied back (Issue Mr, Issur PO, Material Ex-work, Shipment, Custom clearance, etc ...), and the pick up the info to P3.
I used always this way and work without problems, just to set up all the system to work.
Luca
PS the level of aggregation should be agree with the Client, so before to start to work on and make big changes, have a talk with the other side (Client) and agree the
The best way to obtain the 37% of the money you had completed is breakdown the value of each individual drawing and with their status "5% or 50% or 95% or 100%" Once that compete multiply the % with $ then you can have a $ value attached to the drawing. Add all the drawing EV$ and get paid.
i am actually trying to establish the facts for the progress of my claim programme.
i have remade the programme and now i am progressing it accorging to the important time slices i.e. data dates that influenced the contruction process. i am a bit confused about the use of % Complete as measuring tool or the remeing duration. as i had to adjust the durations of the activities to fit to a standard calendar for civil works, i wonder if i can still use the remeing duration as a progressing perimeter. just confused what to use.
in the last reply, guest said that ev is the function of cost and % COmplete. can you please elaborate it. (just to ensure the integrity of my concept about it)
Howa about splitting the drawing task into the distinct phases in the life of the drawing (5%,50%,95%&100%)? These could then be progressed discretely to enable better earned value metrics and payment triggers. I know it will increase the activity count for this section of your programme, but think the benefits could be worthwhile ?
Thank you for your reply. I had tried to do the same in Excel, and it worked well. I also tried to duplicate the same in primavera through Global change (I used 3 global change query for that).
Anyway, I heard that it is quite possible to do this in Enterprise version (i.e. to define the earned value criteria activity wise). Is it true?
If yes, i would certainly like to try my hands on this enterprisw version.
Member for
22 years 11 months
Member for23 years
Submitted by Steven Oliver on Tue, 2003-08-05 08:25
Member for
16 years 9 monthsRE: earned value calculation
Earned vaue = % compl. * BAC (Budget at completion)
Member for
22 years 8 monthsRE: earned value calculation
You can
You can also use different rules for your EV calculation.
0/100
50/100
weighted
by steps
Once you use P3e, you dont want to turn back and now they have version 4.0 in the market very soon. Another big step forward for Entreprise Project Management
Member for
16 years 9 monthsRE: earned value calculation
Alex,
Can you use these various % complete you enumerated in calculating earned value?
Member for
22 years 8 monthsRE: earned value calculation
In P3e you can have duration % performance %, physical % and %
Member for
16 years 9 monthsRE: earned value calculation
To the original sender who posted in this thread.
Since you are already working in P3, this is just in case you will encounter using MSP in the future.
In MSP 2003, you have an option to use either % Complete and Physical % Complete. % Complete uses the same formula as in P3 while Physical % Complete, you can model your Earned Value calculations.
Hope this could help. I wonder if P3 or P3e has a similar feature?
Member for
22 years 3 monthsRE: earned value calculation
Is the same.
The curve is important in the schedule/cash flow preparation as is telling you when You will earn the quantity and then most important the money (BCWS).
With this You will built up Your cash flow, that will be the baseline for the earned value analysis.
The actual values are the ones real earned on site, so meters of duct layed, cubic meters of concrete poured and so on, with their real cost (ACWP).
Their temporal distribution can be different from the one You model in your schedule.
Member for
22 years 5 monthsRE: earned value calculation
hOW ABOUT IF THAT ACTIVITY HAS AN ASSIGN RESOURCE CURVE I.E BELL SHAPE ETC....
Member for
16 years 9 monthsRE: earned value calculation
In response to elaborate that earned value is a function of cost & % complete.
On % Complete, the formula used by P3 is (OD-RD)/RD
for example if OD is 10 days and it is already 50%, the formula for this is (10-5)/10=50%
If you have a Budgeted Cost at $10,000.00, the earned value is 50%*$10,000.00 = $5,000.00.
What you are asking is a function of milestone event which has a pre-calculated values for every stage of the documentation process. What i do in this case is to prepare a separate curve in excel for this because this situation is not the way P3 is calculating the EV. As what i have mentioned this is called a billing curve not earned value as defined in P3.
I hope this is a clear explanation on the concept for EV.
Member for
22 years 3 monthsRE: earned value calculation
I suggest to put in P3 a high level engineering schedule supported by a document register from which P3 take the info. In this way You can keep record of the various step, have the S-curve and claim the right quantity in the same time the S-curve produce by the document register should be the same of the one in P3.
Same issue for the procurement, but a little more complicated as normally You have to take in consideration that a huge quantity of deliverables can not reach the IFC status without some information from the vendors.
See electrical load, pipe arrangment, isometrics, etc ...
But again put down a high level schedule for procurement and with a procurement log track You keep progress for each procurement items of the steps for which You are paied back (Issue Mr, Issur PO, Material Ex-work, Shipment, Custom clearance, etc ...), and the pick up the info to P3.
I used always this way and work without problems, just to set up all the system to work.
Luca
PS the level of aggregation should be agree with the Client, so before to start to work on and make big changes, have a talk with the other side (Client) and agree the
aggregation level.
Member for
22 years 8 monthsRE: earned value calculation
The best way to obtain the 37% of the money you had completed is breakdown the value of each individual drawing and with their status "5% or 50% or 95% or 100%" Once that compete multiply the % with $ then you can have a $ value attached to the drawing. Add all the drawing EV$ and get paid.
I guess that way you can get your 37% paid
Member for
16 years 9 monthsRE: earned value calculation
HI,
i am actually trying to establish the facts for the progress of my claim programme.
i have remade the programme and now i am progressing it accorging to the important time slices i.e. data dates that influenced the contruction process. i am a bit confused about the use of % Complete as measuring tool or the remeing duration. as i had to adjust the durations of the activities to fit to a standard calendar for civil works, i wonder if i can still use the remeing duration as a progressing perimeter. just confused what to use.
any ideas!
Hashmi
Member for
16 years 9 monthsRE: earned value calculation
hi,
in the last reply, guest said that ev is the function of cost and % COmplete. can you please elaborate it. (just to ensure the integrity of my concept about it)
regards
Member for
16 years 9 monthsRE: earned value calculation
As we know, earned value is a function of cost and % complete. What you are asking is a contractual billing schedule.
What I do is this, prepare the earned value curve(BCWP), ACWP & BCWS in excel then add your billing curve.
From this report you can analyze that you may be already 35% complete but contractually you can only bill 5%.
Member for
22 years 5 monthsRE: earned value calculation
How about doing it through work step or work matrix:
=======BUDGET===STEP1==STEP2===STEP3======STEP4===EARNED==
==================5%====30%======50%=======15%========
DWG A 500=======100====100=====100=======50======425
DWG B 1000======100====100=====100=======50======850
TOTAL============================================1275
DWG B
Member for
24 years 9 monthsRE: earned value calculation
Howa about splitting the drawing task into the distinct phases in the life of the drawing (5%,50%,95%&100%)? These could then be progressed discretely to enable better earned value metrics and payment triggers. I know it will increase the activity count for this section of your programme, but think the benefits could be worthwhile ?
Hope this helps
Cheers
Paul
Member for
16 years 9 monthsRE: earned value calculation
Hi Steven Oliver,
Thank you for your reply. I had tried to do the same in Excel, and it worked well. I also tried to duplicate the same in primavera through Global change (I used 3 global change query for that).
Anyway, I heard that it is quite possible to do this in Enterprise version (i.e. to define the earned value criteria activity wise). Is it true?
If yes, i would certainly like to try my hands on this enterprisw version.
Member for
22 years 11 monthsRE: earned value calculation
The easiest method is to copy out your P3 data to Excel (or Access) and set up your calcs and standard report format.
In P3 you would need to global change the %comp (sometimes resource %comp - but thats another story) value based on your threshhold values.