Fill out the form to download our Earned Value Management Formula Cheat Sheet, print it and keep it close. How often you need to reference an earned value formula sheet will depend on how you calculate and use earned value. ܊��1;�-fG�G�^�! : EVM Formulas: No Formula. The most complete project management glossary for professional project managers. That's why a cheat sheet is a handy way to keep the most important Earned Value formulas right beside you, when you need them. If you continue to use this site, you agree to the use of cookies. 3 0 obj
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Earned Value (EV): This is the Budgeted Cost of Work Performed (BCWP), or in other words, the value of the work completed. Earned Value Formula Sheet. PB��PZ�
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(+@��En�/t��?��$���U���H��[�X�+�� This is the planned cost required to complete the entire work or total project work. Earned Value (EV) Actual Cost (AC) Definition: It is the Monetary Value of the Work that was Actually Completed by the Control Date. 1 | P a g e ©2016 CPM Solutions Ltd. Collaborative Project Management | www.cpmsolutions.ca E A R N E D V A L U E C H E A T S H E E T *ETC is set at the WBS Level, Earned Value tab. In our cost variance excel table or cell, we need to reference our actual cost - which is the data being collected and reconciled on the project as well as reference our earned value number which we worked out above. Earned Value Formula #1 – Budget at Completion (BAC) It is defined as the total budget you have been allocated for the project. endobj
Once we have this row of numbers, we can reference this number into our cost variance formula: Cost variance = Earned value - Actual cost. Actual cost (AC): The costs actually incurred for the work completed by the specified date; also referred to as the actual cost of work performed (ACWP). x��}_��6��{�|��r�s���E�% H�8Ό/��'�x��жO��������oyY�#Q"�HJ�g.���UU�*Y?��ýLJ/���ÃG����:|����>��5�������:��?e'�������{����E��=����xp8���t�?�����֜;�/?�L���䁳s�w6�%���8��|�ٯ_hև?|�Y��� �|��;�� ء9�����;�$8���I 2MR�ۉ���p��ivd�;Q��+֝{m6qnm}��#gC���ww�~�~~����]?�����˽'�o��ޓ���{|�����ݫ����'��c�8���m��ug�K�$
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Digitise & streamline your standard operating proceduresThe reason for seeking out and using an earned value formula sheet is to understand and use all of the critical Calculating the different components of earned value requires a number of different formulas, which are used to paint a full and comprehensive picture of project health.Almost all projects can benefit from most of the formulas on this earned value formula sheet, while others will just reference a few.If you would like more detail about these formulas, as well as some examples of how they are used to actually calculate EV, How often you need to reference an earned value formula sheet will depend on how you calculate and use earned value.For some companies, their earned value formulas are embedded into the excel sheets they use to calculate earned value, for other companies, their earned value calculations are automated and derived straight from dedicated software systems.If you calculate earned value manually, then you will likely need to reference this or another earned value formula sheet on a regular basis.Lance is the Head of Marketing & Growth at Sitemate.