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EVM into an existing project?

James Anthony WoodMember for 22 years 8 months
Created
5
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Hi Folks,

Question:-

Is it possible to introduce EVM into a project that is already underway and has already incurred costs?

Some baselines are also set on some control accounts within the project.

I am currently using P3.

Thanks in anticipation.

Tony Wood.

5 replies

Oldest first
  1. 0
    Rafael Davila ·
    I have not done this but maybe you can try.

    1)Define your resources and cost codes.
    2)Set up your DD to start of job and run a Schedule update for your first period without changing any updating to activities. Then run Tools/Store Period Performance as per P3 procedures.
    3)Repeat until you get to your last update DD.

    Best regards,
    Rafael
  2. 0
    James Anthony Wood ·
    Thank you for your advice Rafael.

    I will give it a go,

    thanks

    Tony.
  3. 0
    Rafael Davila ·
    If this works then maybe you can Export (Tools/Project Utilities/Export) from your new file the resources and cost assignments. Remember not to include into the export definition your actuals for EV,cost and resources, otherwise these will also transfer. Once you have run your export file then you can run an import from this file into your Baseline(s).

    This is based on what I have read of these functions, because my jobs never justified using EV or job costing integration with P3 and accounting modules I have never used these.
    Always keep Backups so if something go wrong you can go back, just a reminder, we all know.

    Good luck,
    Rafael
  4. 0
    Samer Zawaydeh ·
    Dear Tony,

    EV can calculated at any point in time during the project duration. You need to find out the following values and apply the formula:

    EV: Earned Value
    PV: Planned Value
    AC: Actual Cost
    BAC: Budget at completion.

    This can be done using management numbers without the use of planning softwares, or detailed method with work packages and cost accounts using planning softwares.

    With kind regards,

    Samer
  5. 0
    James Anthony Wood ·
    Samer,

    Thanks for the advice,

    I’ll give it a go!

    Cheers,

    Tony.

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