Beiträge von Lance Hodgson

Earned value management for dummies The definition of earned value management for dummies In simple terms, earned value management (EVM) is a project management technique which enables someone to measure the amount of earned value which has been produced on a project to date. The definition of earned value management for dummies is that EVM…

SV Project management: Schedule variance definition, formula and more SV project management definition Schedule variance (SV) is an objective and quantifiable measure which enables project managers, teams and companies to understand whether a project is on, behind or ahead of schedule. Schedule variance is one of the two major variance measurements used as part of…

EVM metrics: Here’s what you need to know about those critical EVM metrics What are the most important EVM metrics? EVM metrics (metrics for earned value management) are the metrics which project managers and companies use to determine the earned value of their projects as they are being conducted, so that they can gauge performance…

Earned value analysis template Why analyse earned value in the first place? A good earned value analysis is critical during the course of most projects which stem for any substantial period of time, and projects which involve multiple internal and external factors which can influence the scope, cost and schedule of a project. Analysing earned…

Earned value formula sheet What do you need on the your earned value formula sheet? Earned value management is an important component of managing any project, especially for projects in industries like construction and oil and gas, where projects stem for long periods of time and have hundreds of interdependent pieces, and internal and external…

Earned value calculation: How to calculate EV properly What is the earned value calculation for? The earned value calculation is used to calculated earned value (commonly referred to as EV). Earned value is a measure which is used on projects to determine the value of work which has been completed to date, in order to…

EAC in project management: What to know about estimate at completion (EAC) What is EAC in project management? EAC or the ‘estimate at completion’ is the forecasted cost of a project, after the project has begun. EAC may be calculated and used during any stage of the project as a sanity check and measure against…

Budget at completion (BAC): Everything you need to know What is budget at completion? Budget at completion or BAC is the total anticipated and budgeted spend for a project or specific phase of works, or in simple terms, the estimated cost of the project before the project begins. When a project manager or company forecasts…