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Project Status Report with EVM Insights

This document provides an overview of earned value management (EVM) metrics for tracking project status. It defines key EVM terms like planned value, earned value, schedule variance, cost variance, and performance indexes. The best way to read an EVM chart is to first identify the earned value curve and then compare it to planned value and actual costs to assess schedule and cost performance. Key metrics like estimate at completion, to-complete performance index, and independent estimate at completion are used to project final costs and determine if targets will be met.

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30 views3 pages

Project Status Report with EVM Insights

This document provides an overview of earned value management (EVM) metrics for tracking project status. It defines key EVM terms like planned value, earned value, schedule variance, cost variance, and performance indexes. The best way to read an EVM chart is to first identify the earned value curve and then compare it to planned value and actual costs to assess schedule and cost performance. Key metrics like estimate at completion, to-complete performance index, and independent estimate at completion are used to project final costs and determine if targets will be met.

Uploaded by

emily_ucker
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Project

Status Report
Date:

SCD BGT G/Y/R


Report Date:
Weekly G/Y/
SCD BGT R
Project Team: Status:

Accomplishments: Schedule1:
• List and briefly describe major accomplishments since last report. • Provide major planned vs. actual dates and milestone/deliverable
progress

Issues & Risks: Budget:


• List existing issues and potential risks to be addressed; identify • Provide a brief budget status of planned vs. actual hours, and
remediation plans. variance reasons.

1
Earned Value Progress Reporting
Essential features of an EVM include
• formal project plan that identifies work breakdown structure (WBS). Must use uniquely
defined work tasks,, and define Earning Rules :
• a valuation of all planned work, called Planned Value (PV). Assign resource labor time (or
value) to all EBS tasks = Budgeted Cost of Work Scheduled (BCWS)
• Define “earning rules” (metrics) to quantify the completed work, called Earned Value (EV)
or Budgeted Cost of Work Performed (BCWP). Method: 25 (task start) and 75 (task end).
The best way to read the three-line chart is to identify the EV curve first, then compare it to PV (for
schedule performance) and AC (for cost performance)
Schedule variance (SV) EV-PV greater than 0 is good (ahead of schedule)
Schedule performance index (SPI) EV/PV greater than 1 is good (ahead of schedule)
Budget at completion (BAC): The total planned value (PV or BCWS) at the end of the project. If a project
has a Management Reserve (MR), it is typically in addition to the BAC.
Cost variance (CV) EV - AC, greater than 0 is good (under budget)
Cost Performance Index (CPI) EV/AC, greater than 1 is good (under budget) < 1 means that the cost of
completing the work is higher than planned (bad) = 1 means that the cost of completing the work is right
on plan (good) > 1 means that the cost of completing the work is less than planned (good or sometimes
bad). Having a CPI that is very high (in some cases, very high is only 1.2) may mean the plan was too
conservative, and a very high number may in fact not be good, as the CPI is being measured against a
poor baseline. Management or the customer may be upset with the planners as an overly conservative
baseline ties up available funds for other purposes, and the baseline is also used for manpower planning
Estimate at completion (EAC) EAC is the manager's projection of total cost of the project at completion.
ETC is the estimate to complete the project.
To-complete performance index (TCPI) The TCPI provides a projection of the anticipated performance
required to achieve either the BAC or the EAC. TCPI indicates the future required cost efficiency needed
to achieve a target BAC or EAC. Any significant difference between CPI, (cost performance to date) and
the TCPI (cost performance needed to meet the BAC or the EAC), should be accounted for by
management in forecasting the final cost.
Independent estimate at completion (IEAC) The IEAC is a metric to project total cost using the
performance to date to project overall performance. This can be compared to the EAC, which is the
manager's projection.

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