Important Earned Value Indices One of the most math-heavy parts of leading projects is earned value management. Fortunately, the right software tools will do the calculations for you, drawing together data points from various systems and preparing a summary report. However, as a project manager, sponsor or client, you still need to know what that […]
What causes variance on projects?
Do You Know the Cause of Variance on Projects? Projects start with a plan. The team begins the work and then something happens… you start reporting a variance against the original baseline. While we all know that sometimes plans shift and the team has to accommodate that, what’s really helpful is understanding why variance on […]
How to Get Ready for an Integrated Baseline Review (IBR)
This is the situation many of our clients find themselves in: You’ve received notification of an upcoming Integrated Baseline Review (IBR). And you’ve only got a couple of months to prepare for it. Many organizations find the IBR timescale a challenge: typically, IBRs occur between 90 and 180 days after contract award and represent one […]
What is Earned Value Management
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 […]