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Primavera Project Planner - P3

Enquiry about denfinition of Budget, planned, earned

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Sum Lap KeyMember for 18 years 11 months
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Dear All

Would you mind to tell me how to classify and define the follows:


Budget amount
Planned Value
Earned Value
Actual Value

How to relate to target, current value ?

Not clear about the concept and quite confused.

Thank you for your help.

Mercer
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  1. 0
    Johny Kesserwany ·
    #1
    Go to the the technical paper of Mr. Paul Harris, you’ll have all what do you need and more...

    http://www.eh.com.au/Technical%20Papers/020820%20EVPM%20Presentation%20EH%20Format.pdf

    JK
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  2. 0
    A D ·
    #2
    Budget amount
    Planned Value
    Earned Value
    Actual Value

    There r three things:

    Planned Value: Budgeted Cost of work Scheduled (BCWS)

    Earned Value: Budgeted Cost of Work Performed (BCWP)

    Actual Cost: Actual Cost of Work Performed (ACWP)

    From these three values, u can hav SPI and CPI (Schedule Performance Index and Cost Performance Index)

    SPI = EV / PV

    CPI = EV / AC

    For more details, apart from Paul Harris paper, u may also refer to PMBOK.

    Cheers,

    Rav
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  3. 0
    Tommy Nug ·
    #3
    Yes,
    We also calculate percent complete of overal project:

    %complete (actual)=BCWP/BAC
    %complete (plan)=BCWS/BAC
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  4. 0
    Sum Lap Key ·
    #4
    Thank you very much Johnny Kesserwany, Raviraj Bhedase and Tom Nug for giving the answers to my question.
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