Podcast
Questions and Answers
What does Earned Value Analysis (EVA) primarily measure?
What does Earned Value Analysis (EVA) primarily measure?
- Resource allocation efficiency
- Project performance in terms of scope, time, and cost (correct)
- Team productivity levels
- Project completion rates
Which week is dedicated to Progress Reporting and Earned Value Analysis in the course outline?
Which week is dedicated to Progress Reporting and Earned Value Analysis in the course outline?
- Week 9
- Week 12
- Week 10
- Week 11 (correct)
How much does the final exam contribute to the overall assessment weight in PMGT3623?
How much does the final exam contribute to the overall assessment weight in PMGT3623?
- 20%
- 50%
- 30%
- 40% (correct)
What tools are mentioned for demonstrating EVA reporting?
What tools are mentioned for demonstrating EVA reporting?
What percentage does the Knowledge Test account for in the assessment methods?
What percentage does the Knowledge Test account for in the assessment methods?
Which aspect is NOT a primary focus of Earned Value Analysis?
Which aspect is NOT a primary focus of Earned Value Analysis?
When is the Group Assignment Report Submission due?
When is the Group Assignment Report Submission due?
What is the total weight of the Weekly Participation assessment?
What is the total weight of the Weekly Participation assessment?
What is the Planned Value (PV) for the software enhancement project during the third week?
What is the Planned Value (PV) for the software enhancement project during the third week?
What is the Earned Value (EV) for the software enhancement project after three weeks?
What is the Earned Value (EV) for the software enhancement project after three weeks?
What is the Actual Cost (AC) incurred for the project after three weeks?
What is the Actual Cost (AC) incurred for the project after three weeks?
How is Cost Variance (CV) calculated?
How is Cost Variance (CV) calculated?
What does the Cost Performance Index (CPI) measure?
What does the Cost Performance Index (CPI) measure?
In the scenario, what percentage of work was actually completed at the end of the third week?
In the scenario, what percentage of work was actually completed at the end of the third week?
What does a SPI value of less than 1 indicate about a project?
What does a SPI value of less than 1 indicate about a project?
If the Earned Schedule (ES) metric is defined for a given status date, what does it relate to?
If the Earned Schedule (ES) metric is defined for a given status date, what does it relate to?
What is the formula for calculating SV?
What is the formula for calculating SV?
What conclusion can be drawn if the Cost Variance (CV) is negative?
What conclusion can be drawn if the Cost Variance (CV) is negative?
If a project has a CV of -$15, what does this indicate about the project's cost performance?
If a project has a CV of -$15, what does this indicate about the project's cost performance?
What does a CPI value of 0.83 suggest about a project's cost efficiency?
What does a CPI value of 0.83 suggest about a project's cost efficiency?
How is the SPI calculated?
How is the SPI calculated?
If a project reports an EV of $75 and a PV of $100, what is the project status?
If a project reports an EV of $75 and a PV of $100, what is the project status?
Which of the following metrics indicates the overall progress of a project relative to its planned schedule?
Which of the following metrics indicates the overall progress of a project relative to its planned schedule?
What does the term 'time efficiency' refer to in project management metrics?
What does the term 'time efficiency' refer to in project management metrics?
What does the acronym EVA stand for in project management?
What does the acronym EVA stand for in project management?
Which of the following is NOT one of the primary metrics in Earned Value Management?
Which of the following is NOT one of the primary metrics in Earned Value Management?
What does Planned Value (PV) represent in Earned Value Management?
What does Planned Value (PV) represent in Earned Value Management?
Who initially adopted Earned Value-based performance management?
Who initially adopted Earned Value-based performance management?
What is Earned Value (EV) used to measure?
What is Earned Value (EV) used to measure?
In which decade was Earned Value widely adopted by all Federal agencies?
In which decade was Earned Value widely adopted by all Federal agencies?
Which of the following statements about Actual Cost (AC) is accurate?
Which of the following statements about Actual Cost (AC) is accurate?
Which question is NOT considered when implementing Earned Value Analysis (EVA)?
Which question is NOT considered when implementing Earned Value Analysis (EVA)?
What does an SV(t) value greater than 0 indicate about a project?
What does an SV(t) value greater than 0 indicate about a project?
Which value indicates that a project is currently experiencing delays?
Which value indicates that a project is currently experiencing delays?
In week 7, what is the SPI(t) calculated using the given data?
In week 7, what is the SPI(t) calculated using the given data?
What does the Cost Performance Report (CPR) primarily provide?
What does the Cost Performance Report (CPR) primarily provide?
What does a SPI(t) value less than 1 indicate about project performance?
What does a SPI(t) value less than 1 indicate about project performance?
What is the purpose of comparing BAC with EAC in the CPR?
What is the purpose of comparing BAC with EAC in the CPR?
What defines a project that is on time based on the SV(t) metric?
What defines a project that is on time based on the SV(t) metric?
What type of report is also known as a Contractor Performance Report?
What type of report is also known as a Contractor Performance Report?
Flashcards
Earned Value Analysis (EVA)
Earned Value Analysis (EVA)
A method for measuring project performance, considering scope, time, and cost.
Project Performance
Project Performance
How well a project is progressing concerning scope, time, and cost.
Scope, Time, Cost
Scope, Time, Cost
The triple constraints of project management; essential elements determining project success or failure.
Progress Reporting
Progress Reporting
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Primary Metrics
Primary Metrics
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Secondary Metrics
Secondary Metrics
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Microsoft Excel
Microsoft Excel
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PMGT3623
PMGT3623
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Earned Value Management System (EVMS)
Earned Value Management System (EVMS)
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Planned Value (PV)
Planned Value (PV)
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Actual Cost (AC)
Actual Cost (AC)
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Earned Value (EV)
Earned Value (EV)
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Budgeted Cost of Work Scheduled (BCWS)
Budgeted Cost of Work Scheduled (BCWS)
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Actual Cost of Work Performed (ACWP)
Actual Cost of Work Performed (ACWP)
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Budgeted Cost of Work Performed (BCWP)
Budgeted Cost of Work Performed (BCWP)
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EVA
EVA
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Schedule Variance (SV)
Schedule Variance (SV)
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Schedule Performance Index (SPI)
Schedule Performance Index (SPI)
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Cost Performance Report (CPR)
Cost Performance Report (CPR)
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What is the impact of a negative Schedule Variance (SV)?
What is the impact of a negative Schedule Variance (SV)?
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What does a Schedule Performance Index (SPI) of less than 1 signify?
What does a Schedule Performance Index (SPI) of less than 1 signify?
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What is the purpose of a Cost Performance Report (CPR)?
What is the purpose of a Cost Performance Report (CPR)?
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What information does the CPR provide?
What information does the CPR provide?
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What is Earned Schedule (ES)?
What is Earned Schedule (ES)?
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How is Earned Schedule calculated?
How is Earned Schedule calculated?
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What is Cost Variance (CV)?
What is Cost Variance (CV)?
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What does a positive CV indicate?
What does a positive CV indicate?
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What does a negative CV indicate?
What does a negative CV indicate?
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What is Cost Performance Index (CPI)?
What is Cost Performance Index (CPI)?
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How is Cost Performance Index (CPI) calculated?
How is Cost Performance Index (CPI) calculated?
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What does a CPI greater than 1 indicate?
What does a CPI greater than 1 indicate?
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What does CPI > 1 mean?
What does CPI > 1 mean?
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What does SPI < 1 mean?
What does SPI < 1 mean?
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What does SV(t) represent?
What does SV(t) represent?
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How to calculate ES?
How to calculate ES?
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Study Notes
PMGT3623 Scheduling - Week 11
- Topic: Progress Reporting and Earned Value Analysis
- Lecturer: Dr Shahadat Uddin
- Week 11 Content: Focuses on progress reporting and earned value analysis (EVA).
Topics Covered
- EVA Metrics: Includes primary and secondary metrics.
- Application of EVA: For progress reporting.
- EVA Reporting: Detailed demonstrations in Microsoft Excel.
Earned Value Analysis (EVA)
- Definition: An objective method for measuring project performance. It considers the triple constraints (Scope, Time, and Cost).
- System: The systematic approach to integrating and measuring cost, time, and scope accomplishments is the Earned Value Management System (EVMS).
- Purpose: Used to measure project progress, forecast completion dates, and identify schedule/budget variances.
- Objective Questions: EVA helps answer questions objectively about project progress, such as where the project has been, is currently, and where it's headed.
Earned Value Analysis (cont.) - History
- 1960s: US Department of Defense (DoD) initiated earned value-based performance management. Cost, Schedule, and Status Reporting (CSSR) parameters were imposed on major contracts, and earned value became an objective method for progress analysis (physical accomplishment).
- 1970s-1980s: DoD continued using EVA in cost-plus contracting, specifically in response to risk associated with cost and schedule in these contracts.
- 1990s: The approach was expanded to all federal agencies; converging to the current Earned Value Management System (EVMS).
Earned Value Analysis (cont.) - Components
- Key Parameters: Planned Value (PV), Actual Cost (AC), Earned Value (EV), Earned Schedule (ES), and Earned Value Performance Measures (Cost Performance Index (CPI), Cost Variance (CV), Schedule Performance Index (SPI), Schedule Variance (SV)).
- Primary Metrics Information: Planned Value (PV) – what you plan to accomplish, Actual Cost (AC) – actual expenditures, Earned Value (EV) – how much actual work is done
- Example of PV, AC and EV: Provided to calculate cumulative and current PV, AC and EV based on project scope, budget and work breakdown structure (WBS).
- Primary Metrics Examples: Includes example calculations, illustrating how to find PV, AC, and EV.
- Illustrative Example: Provides a practical exercise to determine project metrics (PV, AC, EV) based on a small four-week project that is 75% complete with $9000 spent for a total project budget of $10,000.
Earned Value Analysis - Secondary Metrics: Schedule, Cost
- Schedule Variance (SV): The difference between earned value (EV) and planned value (PV). Helps determine if the project schedule is ahead or behind.
- Schedule Performance Index (SPI): Measures the value of work performed against scheduled work (PV). Helps understand if projects are ahead or behind schedule.
- Cost Variance (CV): The difference between earned value (EV) and actual cost (AC). Indicates whether the project is under or over budget.
- Cost Performance Index (CPI): Measures the work completed against the actual cost; Higher CPI better, lower CPI worse.
- Illustrative Examples Examples to calculate CV, CPI, SV and SPI for specific projects, given their status, plans and costs.
Project Progress Reporting
- Cost Performance Report (CPR): A comprehensive report style, usually monthly, used in earned value management; shows variances in schedule and cost.
- Detailed Reporting Formats: Provides different formats for the CPR, including Work Breakdown Structure (WBS), Organizational Breakdown Structure (OBS), Baseline, Staffing, and Variance Analysis reports.
Review Questions
- a) What is Earned Value Analysis? A method to objectively measure project performance concerning scope, time, and cost using EVMS.
- b) Differences between cost and schedule variance? Cost Variance focuses on budget; schedule variance focuses on schedule performance.
- c) Differences between cost performance index (CPI) and schedule performance index (SPI)? CPI: Measures cost efficiency; SPI: Measures schedule efficiency.
- d) Differences between SV and SV(t)? SV compares EV and PV (aggregate values); SV (t): how ahead/behind project is at a specific time compared to actual time.
- e) Differences between SPI and SPI(t)? SPI compares aggregate EV and PV; SPI(t): Measures schedule performance at a given time in a unit-less dimension.
- f) Limitations of SV and SPI? Questions for the limitations which would need to be analyzed with other measures to overcome those limitations.
- g) What is Earned Schedule? Simple translation of earned value into time units based on the baseline schedule.
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Description
This quiz focuses on Progress Reporting and Earned Value Analysis (EVA) as covered in Week 11 of PMGT3623. Learn about EVA metrics, application for reporting, and detailed demonstrations using Microsoft Excel. Enhance your understanding of measuring project performance through systemic analysis of scope, time, and cost.
