EVM in Zoho Projects

EVM in Zoho Projects

EVM or Earned Value Management allows Project Managers to measure the progress of the project in terms of costs and its schedule. Zoho Projects lets users to evaluate projects by automatically calculating key metrics such as Planned Value, Earned Value, Cost Variance, Schedule Variance, Schedule Performance Index, Cost Performance Index, & Forecasted Cost (typical and atypical).

Benefits of EVM

  • EVM predicts the future and gives visibility through clear metrics.
  • Predicts completion of the project and final cost.
  • Integrates work, schedule, and costs using a work breakdown structure.

Metrics in Zoho Projects EVM

Planned Value

Planned Value of a project allows users to know the planned value of the cost of project at any given point of time.

Earned Value

Earned value of a project refers to the actual amount earned in the project based on the actual work done. It tells users the budgeted cost of the work performed.

Cost Variance

Cost Variance shows deviation from the planned budget. A negative value indicates the project has already exceeded the budget. A positive value indicates that the project is well within budget. Zero indicates that the project budget matches the planned budget.

Schedule Variance

Schedule Performance Index gives a perspective on the efficiency of the project in terms of schedule. A negative value indicates that the project is behind schedule. A positive value indicates the project is ahead of schedule. A zero indicates that the project is on schedule.

SPI

Schedule Performance Index gives a perspective on the efficiency of the project in terms of schedule. An SPI value less than 1 indicates the project is behind schedule. A value of 1 and above indicates a health efficiency.

CPI

Cost Performance Index gives a perspective on the efficiency of the project in terms of cost. A CPI value less than 1 indicates that the project is earning less than the cost and is over budget. A value over 1 indicates the project is recovering a higher value for every $ spent.

Forecasted Cost

Forecasted cost (typical) is the projected total cost of the work done in the project at a given point of time. Forecasted cost (Atypical) gives a futuristic picture based on a project's current performance.

You can read more on how to enable EVM and generate reports here.
Do try out the feature and let us know your thoughts. Please reach out to support@zohoprojects.com for any assistance.




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