Calculate the Worst Case EAC in P6 Primavera P6 Professional’s Earned Value Management (EVM) features can capture an under-performing projects key data values that are needed to forecast the total project expense, including worst case schedule realignment costs. Let’s take a look at this. Project managers need to keep a close eye on their costs […]
Earned Value
The Earned Value Management (EVM) Building Blocks
For many, Earned Value Management (EVM), at its heart, is a paradigm shift in the way we consider and focus on a few fundamental project parameters. It opens the door to a treasure trove of performance assessment and forecast insight for projects. A major duty of the project manager is to keep the project on […]
The Earned Value Graph Explained
Have you seen those line graphs that are created from earned value management systems? They might look confusing but they are actually pretty simple to read once you know what they show. In this article, we’ll look at two earned value graph examples and explain what they are telling you in terms of project performance. […]
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 […]
7 Types of Project Report
Types of Project Report When people think of project management, it’s often the on-the-job client delivery that springs to mind: creating assets for clients to use, installing solutions and getting the work done. However, there is a large part of running a project that is desk-based and administrative, but just as necessary. Project reporting is […]
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 […]
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
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 the release of the seventh edition […]
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 […]