Earned Value Analysis

VTI Consultants performs Earned Value Analysis as an integrated cost-schedule approach to monitor and analyze your project’s progress. This smart Analysis technique provides a project’s status in terms of cost and time within a specific data date.

Earn Value Analysis

Our Process of Earned Value Analysis

VTI Consultants delivers EV Analysis through a simple process with the following steps.

Work done

In this phase, we manage to examine the exact time of work you have done and how you have done it according to the plan.

Money analysis

Our team of expert consultants examine the quantity of money you have earned and how much you have spent on a construction project.

Time Schedule

VTI Consultants are expert in estimating the time (schedule) and money (Budget) deviations (variances) during EV analysis.

Deviations

We examine the causes of the significant deviations and determination of possible remedies during EV analysis.

Conjuncture

In the end, our team will extrapolate the deviations of the entire project.

Measurements Involved in EV Analysis

Our EV Analysis involves a few measurements that are as follows.

  • Budgeted Cost for Work Scheduled (BSWS)
  • Budgeted Cost for Work Performed (BCWP)
  • Actual Cost for Work Performed (ACWP)
  • Schedule Variance (SV)
  • Cost Variance (CV)
  • Cost Performance Index (CPI)
  • Schedule Performance Index (SPI)

The BCWS mainly represents the baseline schedule and budget, whereas BCWP represents the “Earned Value.” The ACWP primarily represents actual budget spending.

How Does Earned Value Analysis Differ from CPM?

It is essential to note that the EV Analysis and Schedule updating delivers conflicting results. A schedule variance might be positive or negative and update either the project is lacking behind or not. This particular situation occurs because Earned Value Analysis is budget-driven, and schedule updating mainly focuses on critical path analysis.

Upload project files that define the scope of work (drawings, specifications). We will review and get back with a questionnaire about the project, quote, and expected completion date.

S Curves in EV Analysis

We deliver S-Curves for Earned Value Analysis as a graphical report that displays your project’s cumulative progress. We use this to track specific metrics overtime to ensure the project is tracking according to the plan and complete on-time and on-budget.

S curve includes the following.

  • A progression in your project against the planned schedule
  • Attain actual costs against budgeted costs
  • Deliver costs against progress to measure productively
  • A specific type of production activity is relevant to the amount of road pavement, delivered concrete, required floors, etc.

Performance Percent Complete Technique for Earned Value Cost

Five main options to opt for Performance Percent Complete in Primavera P6 are as follows.

  1. Activity Percent Complete
    • Duration percent complete.
    • Units percent complete.
    • Physical percent complete
  2. WBS Milestones Percent Complete
  3. 0/100
  4. 50/50
  5. Custom Percent Complete

Single System in EV Analysis

VTI Consultants benefit by implementing Earned Value Analysis to track the project in terms of work, time and money. We measure the actual amount of work completion, forecasting the cost and completion date, and comparing the actual performance of your project with the plan. It also tracks the project budgets within a total amount of time.

Flexibility in EV Analysis

After a thorough analysis of results from the Earned Value Analysis measurements can help the project manager to adjust the work or budget to assist in bringing the future performance of the project back in line through different projections. It pinpoints the project’s troubles and forces the project manager to take preventive measures to reduce specific problems. Earned Value Analysis allow for flexible and timely changes at any point of the project development and implementation.

The below-given diagram shows the general principles and connection to Oracle Primavera P6.