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Project Earned Value Analysis1

Project earned value analysis measures the health of a project by comparing planned cost and schedule to actual results. Key metrics include cost variance, schedule variance, cost performance index, and schedule performance index. Negative variances and indexes below 1 indicate the project is over budget and behind schedule.

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Kocic Balicevac
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83 views

Project Earned Value Analysis1

Project earned value analysis measures the health of a project by comparing planned cost and schedule to actual results. Key metrics include cost variance, schedule variance, cost performance index, and schedule performance index. Negative variances and indexes below 1 indicate the project is over budget and behind schedule.

Uploaded by

Kocic Balicevac
Copyright
© © All Rights Reserved
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Definitions

Project Earned Value Analysis


Project Earned Value Analysis measures the health of a project by looking at cost information and schedule information concurrently. It tells you whether the project is
on schedule and on budget, as well as whether the project is on budget for the amount of work done so far.

Metric
Budget at Completion
Actual Cost
Earned Value
Planned Value
Cost Variance

Cost Performance Index

Abbrev.
Description
BAC
Baseline cost for 100% of project.
AC
Total costs actually incurred so far.
Amount of budget earned so far based on physical work
EV
accomplished, without reference to actual costs.
The budget for the physical work scheduled to be completed by
PV
the end of the time period.
Measure of cost overrun. The difference between the budget for
CV
the work actually done so far and the actual costs so far.

CPI

Cost efficiency ratio. A CPI of 1.00 means that the costs so far
are exactly the same as the budget for work actually done so far.

Schedule Variance

SV

Schedule Performance Index

SPI

Measure of schedule slippage. The difference between the


budget for the work actually done so far and the budgeted cost
of work scheduled.
The schedule efficiency ratio. An SPI of 1.0 means that the
project is exactly on schedule.

Estimate to Completion

ETC

The expected additional cost to complete.

Estimate at Completion

Variance at Completion

Status

EAC

VAC

Expected total cost based on the current cost efficiency ratio.

Estimated cost overrun at the end of project.

Average of CPI & SPI.


GREEN = On track
YELLOW = Slightly behind schedule or budget
RED = Needs immediate attention
BLACK = Killed or Restore

Page 1 of 4

Formula/Value
N/A
N/A
N/A
N/A
Earned ValueActual Cost
EVAC
Earned Value/
Actual Cost
EV/AC
Earned ValuePlanned Value
EVPV
Earned Value/Planned Value
EV/PV
Estimate at CompletionActual Cost
EACAC
Budget at Completion/Cost
Performance Index
BAC/CPI
Budget at CompletionEstimate at
Completion
BACEAC
(Cost Performance Index+Schedule
Performance Index)/2
(CPI+SPI)/2
>1.0
>0.85
>0.65
<0.65

Source Data

Project Earned Value Analysis


<ProjectNameHere>
Budget at Completion (BAC)
Earned Value (EV)
Actual Cost (AC)
Planned Value (PV)
Cost Variance (CV)
Schedule Variance (SV)
Cost Performance Index (CPI)
Schedule Performance Index (SPI)
Estimate to Completion (ETC)
Estimate at Completion (EAC)
Variance at Completion (VAC)
Status based on Average Performance
Index
Comments

Jan
$1,230
$100
$100
$100
$0
$0
1.00
1.00
$1,130
$1,230
$0
GREEN

Feb
$1,230
$200
$205
$220
($5)
($20)
0.98
0.91
$1,056
$1,261
($31)
YELLOW

Mar
$1,230
$300
$315
$325
($15)
($25)
0.95
0.92
$977
$1,292
($62)
YELLOW

Apr
$1,230
$450
$600
$550
($150)
($100)
0.75
0.82
$1,040
$1,640
($410)

May
$1,400
$750
$800
$725
($50)
$25
0.94
1.03
$693
$1,493
($93)

RED

YELLOW
New baseline
set

Page 2 of 4

Jun
$1,400
$800
$1,000
$925
($200)
($125)
0.80
0.86
$750
$1,750
($350)
RED

Jul
$1,400
$1,125
$1,200
$1,175
($75)
($50)
0.94
0.96
$293
$1,493
($93)
YELLOW

Aug
$1,400
$1,200
$1,350
$1,275
($150)
($75)
0.89
0.94
$225
$1,575
($175)
YELLOW

Sep
$1,400
$1,400
$1,475
$1,450
($75)
($50)
0.95
0.97
$0
$1,475
($75)
YELLOW

Oct
$1,400
$1,400
$1,525
$1,500
($125)
($100)
0.92
0.93
$0
$1,525
($125)
YELLOW

Trend Analysis

Earned Value Analysis


$1,800
$1,600
$1,400

$ (000)

$1,200
$1,000
$800
$600
$400
$200
$0
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Sep

Oct

Period
Budget at Completion (BAC)
Earned Value (EV)

Actual Cost (AC)


Planned Value (PV)

Performance Index
1.10
1.00

Efficiency

0.90
0.80
0.70
0.60
0.50
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Period
Cost Performance Index (CPI)

Schedule Performance Index (SPI)

Page 3 of 4

Trend Analysis

Variance Analysis
$50
$0
($50)
($100)
$ (000)

($150)
($200)
($250)
($300)
($350)
($400)
($450)
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Sep

Oct

Period
Cost Variance (CV)
Variance at Completion (VAC)

Schedule Variance (SV)

Estimate at Completion
$1,800
$1,700
$1,600

$(000)

$1,500
$1,400
$1,300
$1,200
$1,100
$1,000
Jan

Feb

Mar

Apr

May

Budget at Completion (BAC)

Period

Page 4 of 4

Jun

Jul

Aug

Estimate at Completion (EAC)

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