Earned Value Management
Benefits of EVM
- EVM predicts the future, gives visibility through clear metrics.
- Improves control over overall project performance.
- Predicts completion of the project and final cost.
- Identifies the problem by analyzing the data that has been captured and provides early warning of issues.
- Integrates work, schedule, and costs using a work breakdown structure.
Metrics in EVM
Planned Value (PV)
Planned Value (PV) = [ Total Planned Cost * Planned % Completion/100] Earned Value (EV)
Cost Variance (CV)
Schedule Variance (SV)
Schedule Performance Index (SPI)
Cost Performance Index (CPI)
Forecasted Cost (Typical)
Forecasted Cost (Atypical)
Enable EVM
- Click
in the top right corner of the page.
- Navigate to Portal Configuration > Project & Budget > Budget Settings tab.
- Toggle Earned Value Management.
- Select the Chart View (weekly / monthly) and Forecasted Cost (Typical / Atypical).
- EVM can be enabled only if Project Budget is enabled
- EVM will be calculated only if the budget type is "Based on Project Amount / Milestone Amount"
- EVM will be calculated based on the Portal's Working Hours.
EVM Reports in Project Dashboard
- Click Projects in the left navigation panel and navigate to your project.
- Click Dashboard on the top panel.
- Earned Value
- Planned Value
- Actual Cost
- Planned Cost
- CPI
- SPI
- Horizontal dotted line for value 1 (Optimal case)
- CV
- SV
EVM Reports in Project Portfolio Dashboard
- Healthy
- Ahead of schedule & over budget
- Behind schedule & under budget
- Behind schedule & over budget
See Also
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