What is earned value analysis?
At the root of earned value analysis are three fundamental values calculated for each task (task: An activity that has a beginning and an end. Project plans are made up of tasks.): The budgeted cost of tasks as scheduled in the project plan, based on the costs of resources (resources: The people, equipment, and material that are used to complete tasks in a project.) assigned to those tasks, plus any fixed costs (fixed cost: A set cost for a task that remains constant regardless of the task duration or the work performed by a resource.) associated with the tasks. Called “the budgeted cost of work scheduled,” BCWS (BCWS: The earned value field that shows how much of the budget should have been spent, in view of the baseline cost of the task, assignment, or resource. BCWS is calculated as the cumulative timephased baseline costs up to the status date or today’s date.) is the baseline cost (baseline cost: The original project, resource, and assignment cost as shown in the baseline plan. Th
Related Questions
- During a software project Earned Value Analysis is performed and gives the following results: EV: 523,000; PV: 623,000; AC: 643,000. Which results are correct?
- Where can I get information on Earned Value Management and Operational Analysis?
- Is a Market Appraisal of Value providing sufficient analysis?
