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| Name | EVM Part 1, The basic building blocks of Earned Value Management |
| Video Uploader | Video From Project Management Research Institute - PMRI |
| Upload Date | This Video Uploaded At 10-05-2013 04:59:20 |
| Video Discription | This is the first of a set of three videos explaining earned value management. This video explains the basic building blocks of earned value management EVM. The evm revolves around; Planned Value PV also known as Budgeted Cost of Work Scheduled BCWS Earned value EV, also known as Budgeted Cost of Work Performed BCWP Actual cost AC, also known as Actual Cost Of Work Performed ACWP Schedule variance SV is EV minus PV Schedule performance index SPI is EV divided by PV Cost variance CV is EV minus AC Cost performance index CPI is EV divided by EV Schedule variance percentage SV percentage = SV divided by PVx100 Tips to remember - Always the earned value EV comes first in the formulae A SPI of 1 indicates that the project is going as per schedule. If SPI is greater than 1, then the project is ahead of schedule. If the SPI is lesser than 1, then the project is lagging behind. A CPI of 1 indicates that the project is going as per budget. A CPI greater than 1 indicates that the project is getting over without consuming the budget. A negative CPI indicates cost overrun. Related links Digital PMO - https://pmri.in/digitalpmo PMP certification - https://pmri.in/pmp |
| Category | Education |
| Tags | Earned value management | S curves | Prgress monitoring and control | Progress monitoring and control |
