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Tips on using this forum..

(1) Explain your problem, don't simply post "This isn't working". What were you doing when you faced the problem? What have you tried to resolve - did you look for a solution using "Search" ? Has it happened just once or several times?

(2) It's also good to get feedback when a solution is found, return to the original post to explain how it was resolved so that more people can also use the results.

EARNED VALUE MANAGEMENT

2 replies [Last post]
Sat, 2006-06-10 15:50
Mike George
User offline. Last seen 17 years 46 weeks ago. Offline
Joined: 2 Jun 2006
Posts: 10
Groups: Petro-Chem / Oil & Gas
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
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Replies

Mon, 2006-06-12 04:03
#1
Trevor Rabey
User offline. Last seen 1 year 22 weeks ago. Offline
Joined: 29 Nov 2005
Posts: 530
Groups: None
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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Sun, 2006-06-11 22:43
#2
Zhang Haixiang
User offline. Last seen 3 years 28 weeks ago. Offline
Joined: 14 Apr 2005
Posts: 250
Groups: None
you can find these definition in MSP help file
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