EARNED VALUE MANAGEMENT
In the Open Standard
Mike GeorgeMember for 20 years 4 months
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Hi Friends,
Anybody can give a good explanation of EVM and clear deffinitions of
BCWP Budjected cost work performed
ACWP Actucal Cost work Performed
BCWS Budjected cost work Schedule
ACWS Actucal Cost work schedule
SV Schedule Variance
CV Cost Variance.
There could be a lot of posting on web...please don’t refer any web address.....try to expain the web posted information as per your own experinced or understanding.
Responses from all of friends will be highly appreciated.
Best Regards
Anybody can give a good explanation of EVM and clear deffinitions of
BCWP Budjected cost work performed
ACWP Actucal Cost work Performed
BCWS Budjected cost work Schedule
ACWS Actucal Cost work schedule
SV Schedule Variance
CV Cost Variance.
There could be a lot of posting on web...please don’t refer any web address.....try to expain the web posted information as per your own experinced or understanding.
Responses from all of friends will be highly appreciated.
Best Regards
2 replies
Oldest first- 0Trevor Rabey ·EV is perhaps a bit easier if the initial "W" for Work is changed to "T" for Task. The cost of Tasks (or Activities) includes the cost of materials, equipment and labour - all of the "directs", so all Tasks will have budgeted costs and actual costs which pick up everything except the "indirects".
EV only needs to get and track 3 numbers. The others are calculated form those.
1) BCWS (= BCTS) comes straight off the baseline project plan/schedule/program. Certain Tasks were scheduled to be done by some date (status date). What were the budgeted costs?
2) BCWP (= BCTP) comes from the progress data. Certain Tasks were done. What was their budgeted costs?
3) ACWP (= ACTP) comes straight from the accounting system. Certain Tasks were done. What did they cost?
If you have these numbers, or can get them, you can do EV.
In fact EV just tumbles out.
If you can’t get these numbers, you can try anything else you like until hell freezes over but you cannot do EV.
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