Production Archives - Page 3 of 3

Finance – Earned value calculation

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…

Finance – EAC in project management

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…

Finance – Budget at completion

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…

Finance – Earned value formula

Earned value formula: Here’s the formula for earned value + some other EV tips Why do we need the formula for earned value? Earned value is an objective measure of project progress which is used to gauge performance during the…

Finance – Earned value management

Earned value management (EVM): Everything you need to know What is earned value management? Earned value management is a systematic project management technique or process which companies, project managers and other workers use for measuring project performance and progress objectively.…

Construction – Construction s curve

Construction S-curves: Everything you need to know about the S-curve What is an S-curve? The construction s-curve is a graphical report which displays the cumulative progress of a project, and is a tool which construction companies use to track a…

Production – Example of a project status report

An example of a project status report What is a project status report? A project status report is a report which a project manager or other responsible party completes and shares with a contractor or client to update them on…

Production – Examples of project controls

Example of project controls: Understand what’s happening to make informed decisions What are project controls? Companies in the industries – construction, oil and gas, mining, energy and others – typically conduct their work in the form of projects, which are…