EVMS Compliance in an RFP Many U.S. government contracts require contractors to have a fully compliant earned value management system (EVMS). The expectation is that you will complete your RFP response setting out how you will demonstrate EVMS compliance – even if you don’t currently have a compliant system in place. That’s the situation that […]
earned value management
EVMP Forum 2023
EVMP Forum 2023 The Earned Value Management Practitioners (EVMP), in association with the Federal Publications Seminars (FPS), will hold their annual Forum on Nov 14 and 15, 2023. The EVMP Forum is in its 13th year and offers delegates a two-day training workshop designed to help improve personal skills and their organisations’ processes for project […]
Earned Value Management Glossary – Free Download
We have created an Earned Value Management Glossary of the most common terms used in the world of Earned Value Management. This is a free download with no registration required. Earned Value Management (EVM) is full of acronyms that can appear confusing to folks new to the EVM world. So to help you, we put […]
3 Processes That Support Integrated Baseline Reviews
Integrated Baseline Reviews – Are You Prepared? Are you getting ready for an Integrated Baseline Review (IBR)? There are three processes that will help you prepare. They are: Baseline maintenance process Risk management process Scheduling processes Do you have all these in place? Read on to find out how your processes shape up. Maintain the […]
Earned Value Management Reporting Requirements: An Overview
Earned Value Management Reporting Requirements One of our team worked on a system upgrade and the project uncovered a huge number of automated reports being generated every month. They couldn’t find owners for the reports, or even any evidence that they were being looked at. The project team decided they would not migrate these reports […]
How to Create and Use a Corrective Action Log
Corrective Action Log If you work on contracts that require earned value management as standard, you’ll be familiar with the idea of corrective actions. These are items requested, normally by the government agency you are working with, that address areas of your earned value management system that are under-performing. Across the life of a large-scale […]
What is Cost Variance?
What does cost variance mean? Cost variance is the difference between earned value and actual cost, at the date you wish to measure. It is used to assess the project’s cost performance. Cost variance for a project is represented as a financial amount. This number tells you the variance from your original budget, whether that […]
Calculating Worst Case EAC from Schedule Realignment in P6
Calculate the Worst Case EAC in P6 Primavera P6 Professional’s Earned Value Management (EVM) features can capture an under-performing projects key data values that are needed to forecast the total project expense, including worst case schedule realignment costs. Let’s take a look at this. Project managers need to keep a close eye on their costs […]
The Earned Value Management (EVM) Building Blocks
For many, Earned Value Management (EVM), at its heart, is a paradigm shift in the way we consider and focus on a few fundamental project parameters. It opens the door to a treasure trove of performance assessment and forecast insight for projects. A major duty of the project manager is to keep the project on […]
10 Earned Value Management Skills
Earned Value Management Skills Earned value management is a core expectation for many US government contractors. There are many technical aspects to understand, from software to formulas, reporting and data analysis. However, to get the most out of earned value, it’s also worth investing in what PMI calls ‘power skills’. Power skills are the ‘soft’ […]