Earned Value Management

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This Demonstration shows the relationship of Earned Value Management (EVM) performance indicators based on a real project midway to completion.

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The estimated time to complete (ETC) gives the project manager an idea of the cost estimate at completion (EAC), based on the planned value (PV), the after work breakdown structure (WBS), the estimation exercises, the actual costs (AC), and the currently earned value (EV).

The cost variance (CV) and schedule variance (SV) are shown as well as the performance indicators that may help to stay in budget and on schedule.

The bull's-eye view lets the manager see deviations early on.

For further use of EVM within daily project management, see [1].

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Contributed by: Hagen Lotze (May 2013)
Open content licensed under CC BY-NC-SA


Snapshots


Details

Use the first slider to see what happens when the historical EV values each change by the same percentage (the range is ). The EV is the work accomplished. The EAC is the work to be done.

The second slider lets you change the AC from its historic settings, each by the same percentage, from up to .

To compare the current actual cost with your former periods' estimates complete, use the third slider, which gives the EAC at any period before the current. The EAC range area gets smaller as the EV approaches the PV.

References

[1] "Project Management Institute." (May 8, 2013) www.pmi.org.

[2] Wikipedia. "Earned Value Management." (Apr 21, 2013) en.wikipedia.org/wiki/Earned_value_management.



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