Earned Value $$$

Earned Value Measure of Project Performance Overall for All Activities Measured at Particular Point in Times 13

Computing Earned Value EV = (% Completed Work) (Planned Cost) E.G. EV = .75 x 100 = 75 EV Also Known as: Budgeted Cost of Work Performed to Date (BCWP) 13

Using Earned Value Cost Variance (CV) = EV (BCWP) – Actual Cost of Work Performed (ACWP) E.G. CV = 75 – 100 = -25 (Over Budget) Schedule Variance (SV) = EV (BCWP) - Budget Cost of Work Scheduled (BCWS) E.G. SV = 75 – 125 = -50 (Costs behind Schedule) Time Variance (TV) = Scheduled Time Work Performed (STWP) – Actual Time Work Performed (ATWP) E.G. TV = 20 – 25 = -5 (Behind Schedule) 13

Example: Problem 3.8 EV = (% Completed) (Planned Cost) EV = (Actual Progress/Scheduled Progress) (100) CR = (Actual Progress/Scheduled Progress) (Budget Cost/Actual Cost) CR = (EV/100) (100/Actual Cost) CR = EV/Actual Cost 13

CR for A: Over 6 Days Day A:EV A:Cost A: CR 1 90 95 .947 2 92 98 .939 1 90 95 .947 2 92 98 .939 3 94 101 .931 4 98 106 .925 5 104 116 .897 6 112 126 .889 13

CR for B: Over 6 Days Day B:EV B:Cost B: CR 1 90 95 .947 2 88 94 .936 1 90 95 .947 2 88 94 .936 3 95 102 .931 4 101 109 .927 5 89 99 .899 6 105 118 .890 13