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Microsoft Project Earned Value and Project Tracking
Summer
For your information the following is general information:
Earned Value Reporting
Microsoft Project contains four (4) Earned Value tables
1. Earned Value for Tasks
2. Earned Value Cost Indicators
3. Earned Value Schedule Indicators
4. Earned Value for Resources
Earned Value for Tasks
1. compares relationship between work and costs for tasks
2. evaluates budget to estimate future budget needs and to prepare accounting statements of project
3. answers – if work is being done for the amount of money spent or if a particular task needs more or less money
Earned Value for Resources
1. compares relationship between work and costs for resources
2. evaluates budget to estimate future budget needs and to prepare accounting statements of project
3. answers – if work is being done for the amount of money spent or if a particular task needs more or less money
Earned Value Cost Indicators and Earned Value Schedule Indicators
1. enables you to compare various cost factors in project
2. enables you to focus on effects of scheduling variances on cost of your project
Earned Value Cost Indicators table closely resembles the Earned Value for Tasks table, but focuses on different earned value fields.
Charting Earned Value
The easiest way to create a chart is to run reports off of Microsoft Project and then pull the data manually and key it into an Excel spreadsheet to create the graphs.
This is nice table that gives explanation for the various data you get from reports:
AC / Actual cost of work performed / Shows actual costs incurred for work already done on a task, up to the project status date
BAC / Budget at completion (also Baseline cost) / Shows the total planned cost for a task, a resource for all assigned tasks, or for work to be performed by a resource on a task
EV / Budgeted cost of work performed
(also earned value) / The cumulative value of the task’s, resource’s, or assignments’ percent complete multiplied by the time phased baseline costs up to project status date.
PV / Budgeted cost of work scheduled (also planned value) / The cumulative time phased baseline costs up to the status date.
CPI / Cost performance index / The ratio of budgeted (or baseline) costs of work performed to actual costs of work performed, up to the project status date.
CV / Earned value cost variance / Shows the difference between how much it should have cost and how much it has actually cost to achieve the current level of completion up to the status date.
CV = EV - AC
EAC / Estimate at completion (also forecast at completion FAC) / Shows the expected total cost of a task based on performance up to status date.
EAC = AC + (baseline cost – EV)/CPI
(comparing EAC against original BAC yields VAC)
SPI / Schedule performance index / Shows the ratio of the budgeted cost of work performed to the budgeted cost of work scheduled (EV/PV). Used to estimate the project completion data.
SV / Earned Value Schedule variance / Shows the difference in cost terms between the current progress and baseline plan of a task, all assigned tasks of a resource, or for an assignment up to the status date.
SV = EV - PV
TCPI / To complete performance index / Shows the ratio of work remaining to be done to funds remaining to be spent as of status date.
TCPI = (BAC – EV)/(BAC-AC)
VAC / Variance at completion / Shows difference between the BAC and EAC for a task, resource; provides early warning of “how bad it will get if we keep this up”
For both Part 4A and 4B print the following reports:
1. Earned Value table
2. Earned Value Cost Indicator table
3. Earned Value Schedule Indicator table
4. Tracking Gantt chart page 1.
Instructions for Part 4A and Part 4B for POM Project
Following the instructions in your text book and answering all the questions in Part 4A,
1. Make sure that you input the correct status date before you run your reports.
2. You will need to put in the Actual duration, Remaining duration, Actual Start and finish dates information BEFORE running your report.
3. Your report will include:
a. Title page (title of this project, your name, and the submission date of this report)
b. Status Report must be typed. Double spaced. For the status report use the same layout as the report on page 328 in your text book.
c. Make sure your status report answers all the questions asked in Part 4A for the report.
d. Include all a Tracking Gantt Chart and reports which includes PV, EV, AC, BAC, EAC, SV, CV, and CPI for each task (as indicated in your textbook) as well as your reports attached to the front.
e. Be sure to upload your work into one (1) PDF file. in order (title page, status report and supporting tables, and charts.)
f. label your printed project reports correctly.