1. Planned or BCWS (Budgeted Cost for Work Scheduled) is the value of work (in dollars) you have planned to accomplish as of today (data date).
2. Accomplishment or BCWP (Budgeted Cost for Work Performed) is the value of work (in dollars) that has actually been performed or accomplished as of today (data date).
3. Actual Cost or ACWP (Actual Cost for Work Performed) is how much you actually spent to accomplish what you did. This is where you measure how much you paid for materials installed, salaries and wages of workers, etc.
This leads us to analyze two critical things:
A. Are we on schedule? Simply compare (1) and (2).
B. Are we overbudget? Simplay compare (2) and (3).
The best case is when (2) BCWP is greater than either (1) BCWS or (3) ACWP.
For more enlightenment, grab a book about Earned Value Analysis.
Again you will find an article on my web page on titled Practicle Application of Earned Value Performance Measurement on my web page, which shows you some techiques I use.
Member for
22 years 3 monthsRE: RE: Actual Progress Percentage
Hi Rajeev!
Three things you need to understand.
1. Planned or BCWS (Budgeted Cost for Work Scheduled) is the value of work (in dollars) you have planned to accomplish as of today (data date).
2. Accomplishment or BCWP (Budgeted Cost for Work Performed) is the value of work (in dollars) that has actually been performed or accomplished as of today (data date).
3. Actual Cost or ACWP (Actual Cost for Work Performed) is how much you actually spent to accomplish what you did. This is where you measure how much you paid for materials installed, salaries and wages of workers, etc.
This leads us to analyze two critical things:
A. Are we on schedule? Simply compare (1) and (2).
B. Are we overbudget? Simplay compare (2) and (3).
The best case is when (2) BCWP is greater than either (1) BCWS or (3) ACWP.
For more enlightenment, grab a book about Earned Value Analysis.
Best regards,
Jorge P3 Taguinod
Crown Systems (Philippines)
Member for
24 years 6 monthsRE: Actual Progress Percentage
Again you will find an article on my web page on titled Practicle Application of Earned Value Performance Measurement on my web page, which shows you some techiques I use.
Regards
Paul E Harris
Eastwood Harris