Communication is a huge part of any project manager’s role. There are status reports to produce, performance graphs to analyze and stakeholders to talk to. Earned Value (EV) data is crucial aspect of communicating project progress accurately and transparently, and in this article we’ll look at several ways you can do that with reports and […]
How to Calculate Estimate at Completion
Working out how much your project is going to cost is simple, right? It might be a straightforward calculation, but EAC (Estimate at Completion) can be calculated in a number of different ways depending on the currently available data. It’s important to know what calculation is being used so that everyone understands what the EAC […]
3 Ways to Measure Progress for Earned Value
Measuring progress for Earned Value One of the important premises of earned value management is that you have a defined way of measuring progress for each task. Some of the formulas need you to calculate how much of the work is done, either at project level or at task level. You can use percent complete: […]
How to Calculate TCPI: The Formulas Explained
How to Calculate TCPI How do you know if an estimate to complete a project is reasonable, based on how the team is performing today? Earned Value Management has a host of calculations available to you to help better understand project performance. In this article we are looking at TCPI which can answer that question. […]
7 Questions Earned Value Management (EVM) Can Answer
Are you considering using EVM (Earned Value Management) on your projects? Or wondering what it can do for you? Well, do you want to know the answer to any of these questions? Are we currently over or under budget? Are we delivering more or less work than we planned? How much is the project going […]
The Value of EVM Education
EVM Education Earned Value Management isn’t just about choosing the right tools or setting up your schedule properly (although trust us, those things definitely help). It’s an ongoing process. You can have tools and plans in place, but without a continual effort to sustain the culture and use of what you have, sometimes even the […]
The History of Earned Value Management
Earned value has been around for a long time, so how did this valuable way of tracking project performance evolve? In this article we’ll look at the earned value history story and why the tool is still relevant today. The early days The concept of tracking what you said you would do against what you […]
Earned Value Management Certification Explained
Earned Value Management certification comes in two flavors: individual and organizational. Project managers can get certified through a range of professional bodies and training providers offering accredited courses. But even with all your team credentialed, your organization still may not meet the standards required for EVMS contract-level certification. In this article, we’ll be looking at […]
Introducing the Practice Standard for Earned Value Management
The Practice Standard for Earned Value Management from PMI is now in its second edition and has quickly become a much-referred to (and searched for) guide to how to use earned value in a project context. It’s a standard, so it doesn’t mandate how you have to do anything. Instead, it describes common practice, established […]
Earned Value Management Terminology Basics – Financial
There is a lot of confusion about some of the terminology surrounding the process of Earned Value Management (EVM). This can be particularly confusing for those who are new the discipline of Earned Value Management. There are various monetary terms that, while probably somewhat familiar to you, will not always make immediate sense when used […]