Have you been asked to look into earned value management for your organization in advance of bidding for a government contract? You’re in the right place. In this article, you’ll learn what is earned value management and how you can use it for your projects. We’ve put together a US contractor’s guide covering earned value […]
Earned Value vs Revenue: What You Should Know
Earned Value vs Revenue: What You Should Know Sometimes we’re asked about earned value vs revenue: what are the differences and how they are used in project management. In this article, you’ll learn about earned value vs revenue and what they mean for your project. First, earned value. This is a topic that we’ve written […]
Earned Value Variance Analysis
Variance analysis is part of earned value management analysis and a way of gaining data for decision-making. A variance is simply a difference between what was planned and what actually happened. As you can imagine, very few projects deliver exactly to plan – have you ever worked on one where the original project schedule baseline […]
AACE Conference and Expo
The Association for the Advancement of Cost Engineering (AACE) International is holding its annual Conference and Expo at the San Antonio Marriott Rivercenter on June 26-28. With over 7,000 members in over 100 countries, this AACE global event will attract delegates from a wide range of industries including construction, utilities, defence, government as well as […]
How to Improve Data Quality in An EVMS
How good is the data in your earned value management system (EVMS)? The quality of data influences the amount of confidence users and clients have in your reporting. The data underpins your ability to monitor and control the project as well, so beyond reporting, there is a very practical reason for ensuring that your EVMS […]
Earned Value for the PMP Exam
Earned Value for the PMP Exam The math required for the Project Management Professional (PMP)® exam has long worried candidates. People studying for this PMI certification seem to be concerned about what calculations they might be expected to do as part of the test. However, the exam was updated in 2021 and that, combined with […]
How to Handle RFP Earned Value Requirements
Handle RFP Earned Value Requirements You’ve found new work to bid for – congratulations! Then the paperwork comes through and you realize you have to prepare a response to the Request for Proposal (RFP) that talks all about your Earned Value Management System (EVMS). Your heart sinks. This is going to take ages. Is it […]
Earned Value vs VOWD
Earned Value vs VOWD Keeping a project on schedule is one of the most important things for a project manager – and that’s especially the case in large scale construction and engineering works. Whether your team is a small contractor on the site of a large build, or in charge of making sure the whole […]
What is Schedule Variance?
You might hear your team talk about variances in the schedule, but what do they actually mean? And are you all defining Schedule Variance (SV) in the same way? Schedule Variance does have a very specific meaning in the world of earned value analysis, so it is worth making sure everyone has a clear understanding […]
A Guide to Level of Effort (LOE)
If you work in an environment with earned value management, you’ll probably have come across Level of Effort (LOE). And you might have seen the accompanying eye rolls as people tried to justify why it was important that their work is tracked with LOE and not in any other way. So what is it all […]