EV is perhaps a bit easier if the initial "W" for Work is changed to "T" for Task. The cost of Tasks (or Activities) includes the cost of materials, equipment and labour - all of the "directs", so all Tasks will have budgeted costs and actual costs which pick up everything except the "indirects".
EV only needs to get and track 3 numbers. The others are calculated form those.
1) BCWS (= BCTS) comes straight off the baseline project plan/schedule/program. Certain Tasks were scheduled to be done by some date (status date). What were the budgeted costs?
2) BCWP (= BCTP) comes from the progress data. Certain Tasks were done. What was their budgeted costs?
3) ACWP (= ACTP) comes straight from the accounting system. Certain Tasks were done. What did they cost?
If you have these numbers, or can get them, you can do EV.
In fact EV just tumbles out.
If you cant get these numbers, you can try anything else you like until hell freezes over but you cannot do EV.
Member for
20 years 6 months
Member for20 years6 months
Submitted by Zhang Haixiang on Sun, 2006-06-11 23:43
Member for
19 years 11 monthsRE: EARNED VALUE MANAGEMENT
EV is perhaps a bit easier if the initial "W" for Work is changed to "T" for Task. The cost of Tasks (or Activities) includes the cost of materials, equipment and labour - all of the "directs", so all Tasks will have budgeted costs and actual costs which pick up everything except the "indirects".
EV only needs to get and track 3 numbers. The others are calculated form those.
1) BCWS (= BCTS) comes straight off the baseline project plan/schedule/program. Certain Tasks were scheduled to be done by some date (status date). What were the budgeted costs?
2) BCWP (= BCTP) comes from the progress data. Certain Tasks were done. What was their budgeted costs?
3) ACWP (= ACTP) comes straight from the accounting system. Certain Tasks were done. What did they cost?
If you have these numbers, or can get them, you can do EV.
In fact EV just tumbles out.
If you cant get these numbers, you can try anything else you like until hell freezes over but you cannot do EV.
Member for
20 years 6 monthsRE: EARNED VALUE MANAGEMENT
you can find these definition in MSP help file