Eraned Value Caluculation- important

P
Puneet Gupta 👤 Member for 21 years 1 month

Hi



Let me give you the brief idea of EVM.

As per the data given by you...

Budgeted Cost = 70

BCWS = Budgeted Cost for Work schedule = 35

Earned Value = BCWP = Budgeted Cost for Work Performed = 16

ACWP = Actual Cost of Work Performed = 25



You were supposed to spend 35 as per the baseline schedule.

The amount of work you have completed cost you 16 but actual amount of money u have incurred to perform this work is only 25.



So its clearly shows that you have spent 25-16 = 9 as extra

you were supposed to finish the work equal to cost 35 but you have finished only 16 ...so you are behind the schedule...

I hope it will be clear by now...

S
Shahzad Munawar 👤 Member for 22 years 11 months

Orbe



Kidas is really good Contract mangement site with respect to new updates in this field

R
Rashid Iqbal 👤 Member for 21 years 1 month

David,



Earned value could be done on work units as well as for the cost of works.



If i have understood your question correctly then in your case



Schedule varinace=16-35= -19

Cost variance= 16-25=-9



Analysis could be as follows:



The project is behind schedule and over budget.



Similarly CPI and SPI could be done which would in turn give you an idea about the ’cost at completion’.



Regards

Rashid


C
Charleston-Joseph Orbe 👤 Member for 20 years 11 months

Hello David,



Earned Value Calculation is important. This maybe the new trend in project monitoring.



As a start, you can surf the net, fo to google and type earned value. Yo



You will find a lot of article regarding earned value. I like reading the article from Kidasa. They also have free download of their article relating to earned value.



Hope this will help.



Cheers,



charlie

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