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Earned value in five easy pieces
1. Earned Value
in
Five
Easy Pieces
Not that Earned Value can be
made that easy, but this is
the start of getting our mind
around the concepts of
project performance
measurement
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2. 1. Using a credible schedule, define the planned value of the work
2. Measure the Physical % Complete for each period of performance
3. Calculate Earned Value = Planned Value x Physical % Complete
4. Using the Earned Value variables ,calculate the performance indices
5. With the performance indices take corrective actions
2
3. 1
Using a credible
schedule, define
the planned
value of the work
3
4. 1
Create Work
Packages for the
activities that
produce physical
outcomes
I 4
5. 1
Define the planned
value (PV)(BCWS)
spreads for each
Work Package
I 5
7. Define 0/100 or
50/50 activities
within each Work
Package.
You’re either
done or not done.
There is no
“partial” done for
a Work Package.
2
7
8. 2
Define Apportioned
Milestones that
describe the
incremental
progress of the Work
Package in units
meaningful to the
customer
II 8
9. 2
Use evidentiary materials
for each measurement.
These are the only
measures of progress.
Not the passage of time
or the consumption of
resources.
“Show Me the
Outcomes”
II 9
11. EV = PV Physical Percent Complete
The Value that is Earned - the Earned Value
- is the percent of the Planned Value that
was delivered at the end of the period of
performance.
The percentage assessment is always
measured by some physical assessment,
some evidence that this percentage was
actually achieved
3
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12. Using the Earned Value variables (BCWS, BCWP,
ACWP), calculate Performance Indices
4
12
13. The To Complete Performance Index (TCPI)
BAC BCWP
TCPIEAC
EAC ACWP
4
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14. The Independent Estimate At Completion (IEAC)
Probably as Good
EAC1 BAC CPI as it Gets
EAC2 ACWPcum BAC BCWPcum SPI
EAC3 ACWPcum BAC BCWPcum SPI CPI Probably as Bad
as it Gets
EAC4 ACWPcum BAC BCWPcum wt1 SPI wt 2 CPI
EAC5 ACWPcum BAC BCWPcum CPI( period )
4
14
15. 5
With the
performance
indices‘, take
corrective action
for remaining
work
V 15
16. Earned Value must measure work
performance within a pre-defined
period of time – the period of
performance
At the end of a project, the Earned Value
always equals the Planned Value – since all
the work has been done.
What is different is how long it took and how
much money is cost.
Earned Value bounds the time period to the
Planned period
IV 16
17. Failing to us discipline and
rigor can put you on the
beach. So remember…
A ship on the beach is a
lighthouse to the sea
– Dutch Proverb
Inattention to budgetary responsibilities Progress not monitored in a regular and
Work authorization not always followed consistent manner
Budget and data reconciliation issues Lack of vertical and horizontal traceability
Lack of integrated management systems (critical path)
Baseline fluctuations and frequent Not capturing and using cost and schedule
replanting data for corrective action
Current period and retroactive changes Lack of predictive variance analysis
Improper use of management reserve Lack of internal surveillance and controls
Earned Value techniques not reflecting Managerial actions not demonstrated
actual accomplishments using Earned Value
Untimely and unrealistic Latest Revised
Estimates (LRE)
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18. Are You Doing
Earned Value?
Do we know the value of
the planned work?
Have we bounded the
period of performance for
each work element?
Do we know how to
measure Physical Percent
Complete?
www.jack-nicholson.info
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19. Earned Value is
fundamentally a
planning tool.
It will not “fix”
problems with
projects.
But it will make the
performance
problems visible in
analytical ways.
www.jack-nicholson.info
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