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 […]
Earned Value
Earned Value Charts Explained (With Examples)
Earned Value Management (EVM) is a powerful advantage for project controls as it gives you both the historical picture and an insight into what the future might bring. One of the pieces of your earned value management system is the chart, and people sometimes get confused about what the graphs and charts show. That’s what […]
Deltek Cobra – Moving Money from UB to MR
Deltek Cobra – Moving Money from UB to MR Deltek Cobra has some very comprehensive features for managing the various budget accounts associated with an Earned Value Management (EVM) program and the audit logging of these accounts. For normal project baseline initialization the process is well designed and reasonably straightforward to use. Sometimes however, there […]
3 Limitations of Earned Value (EV) and How to Overcome Them
Earned Value Management (EVM) is a requirement for many government contracts, and specified by many clients looking to secure project teams to deliver their work. If you are taking your first steps into Earned Value (EV) to meet the demands of your clients, it’s worth understanding a little about the limitations of the system so […]
Planned Value and Earned Value: What’s the Difference?
What is the difference between Planned Value (PV) and Earned Value (EV)? If you’ve got team members asking you this, or you are trying to work it out for yourself, look no further! In this article, we’ll answer the question: “How do you calculate EV and PV?” and give you a worked example for both […]
How to Communicate Earned Value Data
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 […]
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. […]
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 […]
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 […]