Earned Value Analysis
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Philip RichardsMember for 22 years 9 months
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Can anyone offer advice?
I am for the first time dipping my toe into the murky waters of Earned Value Analysis. My aim is to produce an Earned Value Chart from a P3 (V3.1) project programme. My problems are as follows:
1 I want to calculate the percent complete as a function of resource hours spent and revised estimate of hours remaining. I have set up a global change to calculate this, but the problem arises where an activity has more than one resource. The global change formula only takes account of one of the resources (though if these values are displayed in a column, the sum of all resources on that activity are given). (I cannot use the Resource ‘Percent Complete’ as produced by P3, as this is derived as a function of the original budget value, not the revised current value)
2 My Target plan contains some wild card resources. When these resources are re-named in the current plan, the planned value for that activity becomes zero. The current plan has lost the link to the original resource in the target. Do I need to go back and update the Target, each time a resource is allocated in the current plan?
3 What is the best method of producing an Earned Value Chart from the data produced in P3. Ideally showing all the relevant data (BCWS, ACWP, BCWP, cost and schedule variances, estimated cost at completion etc).
4 We are considering upgrading our planning software from P3 to P3V5 (Enterprise). Is the EVA facility much improved?
I am for the first time dipping my toe into the murky waters of Earned Value Analysis. My aim is to produce an Earned Value Chart from a P3 (V3.1) project programme. My problems are as follows:
1 I want to calculate the percent complete as a function of resource hours spent and revised estimate of hours remaining. I have set up a global change to calculate this, but the problem arises where an activity has more than one resource. The global change formula only takes account of one of the resources (though if these values are displayed in a column, the sum of all resources on that activity are given). (I cannot use the Resource ‘Percent Complete’ as produced by P3, as this is derived as a function of the original budget value, not the revised current value)
2 My Target plan contains some wild card resources. When these resources are re-named in the current plan, the planned value for that activity becomes zero. The current plan has lost the link to the original resource in the target. Do I need to go back and update the Target, each time a resource is allocated in the current plan?
3 What is the best method of producing an Earned Value Chart from the data produced in P3. Ideally showing all the relevant data (BCWS, ACWP, BCWP, cost and schedule variances, estimated cost at completion etc).
4 We are considering upgrading our planning software from P3 to P3V5 (Enterprise). Is the EVA facility much improved?
3 replies
Oldest first- 0Paul Harris ·Philip
I usually export from P3 to Excel to produce my EVPM data.
I have not used Primavera Version 5.0 at the sharp end of a project controlled using Earned Value yet, but there are many more built in EV functions than P3 and people I have discussed it with used it on large projects, such as a Power Station construction, and liked the functionality.
Paul E Harris
Eastwood Harris Pty Ltd, Melbourne, Australia
Planning and Scheduling Training Manual & Book Publishers & Consulting
www.eh.com.au
- 0Peter Holroyd ·Agree - best export data to excel for ease of data presentation.
Don’t forget that EV techniques have been around for 40 years and there is a whole lot of standards and info on the subject (see DoD web sites)around.
Good Question to ask is - why isn’t it used more fully?
2 tips for implementation :
1 use PV, EV and AV rather than ACWP, BCSW, BCWP otherwise you don’t get past explaining the terminology and
2 just like scheduling use it to forecast the future (which you can do something about)and NOT as a yet another indicator of past failings
- 0Alex Wong ·Dear All
I will suggest to use P3 3.1 to do the EVM analysis, due to the fact that if the schedule is set up correctly, you can also save the EV per activity per update period. Therefore, it will be a lot clearer when you update your schedule. In addition, in related to running a global change to modify the remaining unit quantities. I will suggest to you a more manual approach. When updating the physical progress, you should consider to re-estimate the remaining unit quantity in order to have a better understanding of the EV.
Your second part of the question is whether 3.1 or V5
Primavera V5 is basically same as P3e/Teamplay/P3e/c if you following the Enterprise development of the P3 program.
Yes V5 do have a lot more different functionanlity around the EVMS concept. Ie, CPI SPI base on hrs or $, saving period actuals on CPI and SPI. Roll up portfolio CPI and SPI. All these are some of the enhancement that V3.1 do not have.
Whether you should or should not move to V5, you have to consider whether the projects allow you to have a upgrade (sometime the contract fix the version of the program submitted to the clients) and also it will involve a painful conversion process that require a Primavera expert to assist if you had already set up report link / data connection with other DB... And all of these are quit costly. Best is to consult with a P3 expert of a geniue advice with you situation.
Good luck
Alex
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