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Earned Value Management: cheat sheet

As a temporary conclusion to our Earned Value Management blog series, we’d like to provide you with an EVM formula cheat sheet. This file contains all essential formulas for calculating the Earned Value metrics, indicators and measures. Download the .pdf for free.

Niels Ligtvoetby Niels Ligtvoet

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Scheduling progressed activities

In this blog post, we’re going to dig deeper into a question you will face when preparing or reviewing a schedule update. How do you address “out-of-sequence” progress in Primavera P6?
The user has 3 interesting choices in the schedule options on how the software deals with progressed activities that are out of sequence, these choices are:

  • Retained logic
  • Progress override
  • Actual dates

This blog post will  address these 3 options, which will help you better represent reality in your progress updates.

Matthijs Warnezby Matthijs Warnez

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Time forecasting techniques with Earned Schedule

You are halfway through your project and you want to know if you are still going to achieve your project objectives. By using an Earned Value Management System, you know how to estimate your total expected costs (Estimate at Completion), but what about your deadline? Based on your current information, can you say something about the expected finish date of your project? This blog gives you an overview of how to use Earned Schedule to predict your project finish date.

Niels Ligtvoetby Niels Ligtvoet

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3 metrics, endless possibilities

I’m a true advocate for using (a basic implementation) of EVM on all your projects, or at least the philosophy. The use of Earned Value Management metrics gives a good insight in your current project status at a simple glance. By planning your project carefully and assigning budgets, in hours, euros, documents, resources, to your activities, a world of possibilities opens. Every project stakeholder can have their own personalized reports on their points of interest, with their own style of preference.

The level of project controls maturity has a great impact on the insight you can gain using the same, simple metrics provided by EVM. Let me take you through the different levels of reporting maturities, followed by some ideas on how to improve further than the classic methods.

Niels Ligtvoetby Niels Ligtvoet

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The To Complete Performance Index (TCPI)

How can we get the most out of our EVM metrics? We’ve evaluated our current cost and schedule performance, and have seen how to forecast the Estimate At Completion (EAC). Now is the time to evaluate the realism of our project’s Budget At Completion (BAC). Following the current conditions, is the aimed for budget still sufficient?

One of the most powerful (and underutilized) measures EVM grants us is the To Complete Performance Index. This is the Cost Performance Index (CPI) at which you must execute the remainder of the work to deliver the project within a certain budget. The budget aimed for has sometimes become idealistic. Comparing the TCPI with the current CPI gives a good insight on whether the foreseen budget or the EAC remain realistic. The difference between the cumulative CPI and the TCPI value should trigger the re-evaluation of the Estimate At Completion.

Niels Ligtvoetby Niels Ligtvoet

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Buffer vs Float

A Time Buffer is not the same as Total Float

Who owns the float has been a predominant discussion within project controls for decades. And it still is. However, to correctly address this question, the difference between Total Float and Time Contingency (or a time buffer) needs to be fully understood. We hope this blog post will help in clarifying the differences.

Stijn Van de Vonderby Stijn Van de Vonder

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What is Takt time?

Are you interested in reducing waste as a result of better planning? How about creating a continuous work flow which helps you meet your project’s deadline and reduces your waste? It is neither rocket science nor magic, achieving these goals is simpler than you think. In fact, whenever I explain to managers about takt time planning, I always feel their confusion, as if they are still waiting to hear something new that ‘’they do not know’’. Hence, the concept is really familiar to us, however many lack a systematic approach to implement it.

Abdallah Baydounby Abdallah Baydoun

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