Earned Value Management System Example

Earned value management systems manager 01 2010 to current raytheon space and airborne systems el segundo ca.

Earned value management system example.

Hours required for each. To get the earned value multiply the percentage of completed work actual by the project s budget bac. Earned value management formulas cost variance. Earned value management system interpretation guide.

Earned value management is a project management technique for measuring project performance and progress. Scope time and costs. The guideline approach provides contractors the flexibility to develop and implement effective. Earned value actual cost 1 2.

Responsible for the management and oversight of the earned value management system of a 6 billion dollar business including managing a staff of 15 earned value management analysts. Earned value actual cost 600k under budget. Imagine we have a work package to design a new widget made up of a number of activities with a budget of 1000 hours having defined all the activities and estimated the effort i e. Here you can find an example of earned value management for non cost values.

Earned value management example planned value actual cost earned value. Let s look at some examples. Schedule variance sv. Cost variance cv earned value ev actual costs ac it shows your deviation from the planned budget as of now.

In a single integrated system earned value management is able to provide accurate forecasts of project performance problems which is an important contribution for project. It has the ability to combine measurements of the project management triangle. Earned value planned value 3 6 6 2 4 behind the schedule. The following shows the basics of how ev works in practice using a simple one task example.

Cost performance index cpi. Ev complete actual x bac.