General discussion

Locked

What is Earned Value Analysis

By nippun.gupta ·
Need to what is Earned Value Analysis

This conversation is currently closed to new comments.

8 total posts (Page 1 of 1)  
| Thread display: Collapse - | Expand +

All Comments

Collapse -

What is Earned Value Analysis

by James R Linn In reply to What is Earned Value Anal ...

Its a project management term.

Earned value is defined as the % completion of a task times the planned cost for a task. Its used to monitor progress, especially in larger projects where milestones are far apart and/or where labour is a large partof the project.

In some project contracts its used to determine how much the customer should pay for the work done to date.

Hope that helps.

James

Collapse -

What is Earned Value Analysis

by nippun.gupta In reply to What is Earned Value Anal ...

The question was auto-closed by TechRepublic

Collapse -

What is Earned Value Analysis

by RGarcia In reply to What is Earned Value Anal ...

EV is a software measurement that have proven to be an effective tool in helping to manage complex projects. The simple way to think of EV is to equate it with physical progress. EV represents the budgeted value of the completed work and is directlyrelated to the percentage completed of the activity, milestone or project.

You should use it for communication and understanding, not for punishment when recongnizing a problem in the project.

Hope this help.

Ricardo

Collapse -

What is Earned Value Analysis

by nippun.gupta In reply to What is Earned Value Anal ...

The question was auto-closed by TechRepublic

Collapse -

What is Earned Value Analysis

by ajays In reply to What is Earned Value Anal ...

Earned Value Analysis is a % of budgeted work completed. It gives you a picture of where your project costs are with respect to what you planned. it also helps you forecast the projected cost of project completion.
Let me give you an example of a simple method for calculation of earned value.

Project 1, 4 tasks, budget 10 hours each task. total duration 5 days
on day three, situation is like this
task actual hrs hrs. to complete
1 6 6
2 4 8
3 10 4
4 6 2

so total hours spent = 26, hours required to complete = 20
since initial budget for all tasks = 40
therefore earned value = (total-hrs remaining)/total hrs
=40-20/20=50%
so total projected overrun=total spent+hrs remaining/total
=26+20/40=46/40=15%

The hours are just one example of resource required to complete the task, ideally the situation would be far more complex. you should convert all the resources into a single currency prior to making this analysis.
it is a very good tool for analysing where one is going wrong and can be applied at any level of a project plan

hope this helps. else pls do ask and i would point you to some reading material

Collapse -

What is Earned Value Analysis

by nippun.gupta In reply to What is Earned Value Anal ...

The question was auto-closed by TechRepublic

Collapse -

What is Earned Value Analysis

by nippun.gupta In reply to What is Earned Value Anal ...

This question was auto closed due to inactivity

Collapse -

Important EVM formulae

by user_786 In reply to What is Earned Value Anal ...

Find out the important EVM formulas here:

http://www.innovativeprojectguide.com/pmp-exam/6-pmp-exam/3-what-is-evm-whatis-earned-value-management-and-evm-formulas.html

Back to IT Employment Forum
8 total posts (Page 1 of 1)  

Related Discussions

Related Forums