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 […]
EVM
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 […]
7 Questions Earned Value Management (EVM) Can Answer
Have EVM questions? 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 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 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 […]
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 […]
3 Challenges for Making EVM Work
Making EVM Work Earned Value Management is a tried-and-tested way to measure project performance. It’s robust, data-driven and highly respected as an approach for understanding how the work is going. However, as with all approaches, there are some things you should be aware of before you start using it. All systems have their limitations, and […]
Single Point Adjustment – Replanning Made Easier with Deltek Cobra
One of the most challenging areas of work in a certified EVMS (Earned Value Management System) is the process for managing major replanning events. Known as a Single Point Adjustment or SPA, EVM professionals find these very complex, time consuming and often nerve-wracking. They must be planned very carefully and thought out in detail, lest […]
Earned Value Management (EVM) Explained in Layman’s Terms
Earned Value Management (EVM) is a systematic program/project management process that helps managers to measure program performance. In government contracting, the guideline used in setting up and implementing EVM is EIA-748 Earned Value Management Guidelines. Earned Value Management (EVM) removes the guesswork from program performance by using a program’s performance metrics to provide accurate data. […]
The New IPMDAR is Released
The DoD in April has released it’s latest revision of the IPMDAR (Integrated Program Management Data and Analysis Report). The Earned Value Management (EVM), a division of Acquisition, Analytics and Policy (AAP) within the Acquisition Enablers organization serves as the Department of Defense (DoD) focal point for all policy, guidance, and competency relating to EVM. […]