Performance % Complete

Define your interpretation of "Performance"

Earned Value Measurement System (EVMS) is a rational method for Measuring Performance that can help the Project Teams manage their work more effectively by:-

1)Anticipating problems before they become acute
2)Using factual data to understand what is happening
3)Recognizing trends and correcting them
4)Applying lessons learned to improve future performance
5)Preventing Margin Slippage.


Here Are The Earned Value Terminology:-

BCWS = Budgeted Cost of Work Scheduled=Planned Value
BCWP = Budgeted Cost of Work Performed=Earned Value
ACWP = Actual Cost of Work Performed= Time Charged
Schedule Variance = BCWP-BCWP
Cost Variance = BCWP-ACWP
Schedule Performance Index (PI) = (BCWP/ACWP)
CostPerformance Index (SI) = (BCWP/BCWS)

Hope i am clear.

Which, whilst correct, doesnt address the original question.

display the WBS Window and click the earned value tab

choose the technique for computing the performance % complete

which is consider to calculate earned value

earned value = budget at completion * performance % complete

I would like to correct the following

Schedule Variance = BCWP-BCWS
Cost Variance = BCWP-ACWP
Schedule Performance Index (SPI) = (BCWP/ACWS)
CostPerformance Index (CPI) = (BCWP/ACWP)

SPI = BCWP/BCWS.....not ACWS..this does not exist!

Hi Niles Luo,

Performance % complete is the earned value of any activity.Earned value can be based on quantities, cost mhrs etc.

In P3e if you are using performance % complete, it is better to base on the cost in updating the activity % percentage complete as P3e only uses cost in summarising the percentage at different WBS or activity code level.

I hope it clarifies.

Cheers.

Dinesh

Hi

If you using Performance % Complete as well as Steps
your % complete will base on your step completion

If you only using performance % comp then it is a value entre by you of your estimated completion of the activity

HTH

Alex