Practical Earned Value Analysis
|Title||Practical Earned Value Analysis|
I take a practitioner's approach towards Earned Value Analysis. THe indicators are considered as "practical levers" and not just theoretical values. The lovely thing about EVA is how it relies on 3 basic project measurements to produce such valuable indicators. These are:
- BCWS = the budgetary value of the planned work or the planned value (or PMI's PV)
- BCWP = the budgetary value of completed work or the earned value (or PMI's EV)
- ACWP = the actual value of completed work or the actual value (or PMI's AC)
Two other constants are used: the total budget and the total duration. From these 5 measures, EVA derives 25 crucial indicators or metrics. These can be used for monitoring project progress, forecasting performance, assessing "what if" solutions and providing leverage indicators to recover from delays or budget overruns. You can consider them as Key Performance Indicators (KPI) in a project.
Each of these 25 indicators is explained in detail, showing why, where and when it can be used. Many examples are given, some using Excel. For most workouts, solutions are provided. A template is also included for use when calculating EVA in Microsoft Excel.
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Table of Contents
Where to Download the Workouts, Solutions and Template
Two Faults in Traditional Cost Analysis
Life without Earned Value Analysis
What is the Basic Principle of Earned Value Analysis?
The 5 Measurements in Earned Value Analysis
A Step by Step Example
Indicators 1 to 9: Basic EVA Variances and Indices
Workouts for Indicators 1 to 9
Indicators 10 to 12: Time Based
Workouts for Indicators 10 to 12
Indicators 16 to 18: Percentages that Analyze Completion
Workouts for Indicators 16 to 18
Indicators 19 to 20: Estimates and Forecasts of Completion
Workouts for Indicators 19 to 20
Indicators 21 to 23: Based on EAC
Indicators 24 to 25: How to Complete a Delinquent Project
Appendix A: A Template for Use in Earned Value Analysis
Appendix B: Solutions to Workouts
Appendix C: Summary of EVA Formulas and Definitions