WHAT IS EARNED VALUE ANALYSIS (EVA) ?

PROJECT MANAGEMENT


 EARNED VALUE ANALYSIS is about knowing whether our Project is progressing according to our Original Project plan or not.
We may spend more or less money than we planned , at the same time we may take more or less time for the Project to complete than what we originally planned.

EARNED VALUE ANALYSIS is basically about how are we consuming money(budget) and time(Schedule).

1) TRACKING 

    It shows the Present Performance of the Project based on how much work 
    we have already completed.  
    
    Down below are the important factors that we need to note down while      
    doing TRACKING ,                       
  • Budget at Completion (BAC)
  • Planned Value (PV)
  • Earned Value (EV) 
  • Actual Cost (AC)
  • Schedule Performance Index (SPI) / Schedule Variance (SV)
  • Cost Performance Index (CPI) / Cost Variance (CV)            

2) FORECASTING

    It helps us to approximate the Future Project Performance based on the     
    Tracking values that we obtained earlier.
    The important factors to note down when we do FORECASTING ,
  • Estimation to Complete (ETC)
  • Estimate at complete (EAC)
  • Variance at complete (VAC)          
Watch , What is Earned Value Analysis? ,



Now Watch , How to do TRACKING and FORECASTING in Oracle Primavera P6? ,