Using earned value tables

Project contains four earned value tables that you can use to compare your expected costs with your actual costs. The four earned value tables — Earned Value for Tasks, Earned Value Cost Indicators, Earned Value Schedule Indicators, and Earned Value for Resources — help you evaluate the relationship between work and costs. You can use the earned value tables to forecast whether a task will finish within the budget based on the comparison of the actual costs incurred for the task to date and the baseline cost of the task.

Using the Earned Value table for tasks

When you use the Earned Value table for tasks, you can compare the relationship between work and costs for tasks. This table helps you evaluate your budget to estimate future budget needs and prepare an accounting statement of your project. You can use the information in the table to determine whether sufficient work is getting done for the money that you're paying or whether tasks need more money or less money, or perhaps should be cut. That is, the information in the Earned Value table helps you assess whether the money that you're spending on a task is enough money, too much money, too little money, or perhaps wasted money.

To display the Earned Value table for tasks, start in any view that contains a table. You can get to the table in Figure 14-5, for example, by starting with the Task Usage view. Right-click the Select All button, and choose More Tables from the shortcut menu that appears. In the More Tables dialog box, select Earned Value and click Apply.

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Task Name

BONS

BÜ/VP

ACWP

SV

CV

«C

VAC

Det—

1

- Conference

$7,057.50

$920.00

81,560.00

(80,137.50)

($640.00)

$12,238.37

87,217.50

($5,020.87)

Wc

2

- Preplanning

8920.00

$320.00

51,660,00

80.00

($640.00)

$1,550.00

$320.00

($640,00)

Wc

3

- Initial planning

S920.90

$920.00

81,569.00

50.00

($640.00)

$1,560.90

$92009

($640.00)

Wc

4

- Determine taudgei

8720.00

$720.00

5960.00

$0.00

($240.00)

$360.00

$720.00

($240.00)

Wc

Bot> Woock

$ 720.00

$720.00

$m.oo

$0.00

($240.00)

$720 00

($240 00)

Wc

5

- krvBation list

5200 00

$200.00

5600.00

$0.00

($400.00)

3600.00

$200.00

($400.00)

Wt

Deena Tane

$200.00

$200.00

$600.00

$0.00

($400.00)

$200.00

($400.00}

Wc

6

Send out invltalio

$0.00

50,00

$0 00

50.00

30.00

$0.00

30.00

$0 00

Wc

7

- Selection

52,537.50

$0.00

$9.00

(82,537.50)

$0.09

$2,957.50

52,537.50

($120.00)

Wc

4 *

- Theme

8350.00

50.00

$0.00

($350.00)

$0.00

$350.00

$350.00

$0.00

Wc

Deena Tanenb.

$350.00

$0.00

$0,00

($35000)

$000

$350 00

$0.00

Wc

1-

9

- Site

51,050.00

50.00

$0.00

($1,050.00)

$0.00

$1,350.00

$1,050.00

($300.00)

Wt

DdLsttf

$500.00

$0.00

$0.00

($500.00)

$0.00

$500.00

$0.00

Wc

intern

$300,00

$0.00

$0,00

($300 00)

$000

$300 00

$0.00

Wc

10

- Keynofle speaker

81,137.50

50.00

30.00

(51,137.50)

$0.00

$1,257.50

$1,137.50

($120.00)

wc

Deena Tanenb.

$107.50

$0.00

$0.00

($137.50)

$0.00

$137.50

$0.00

Wc

&ier> Pec*

$500.00

$0.00

$000

($500 00)

$000

$500 00

$0.00

Wc

Bob Woock

$450.00

$0.00

$0.00

($450.00)

$0.00

$450.00

$0.00

Wc

11

- Hire

$2,760.00

so.oo

$9.00

(82,760.00)

$0.00

$2.920.00

82,320.00

$0.00

Wc

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- Caterer

5800 00

50.00

$000

(5800.00)

30.00

3800.00

$800.00

$0 00

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Figure 14-5: The Earned Value table for tasks.

All the fields on this sheet are calculated, except EAC and BAC. You can type values in those fields to change information in the table.

Using the Earned Value table for resources

When you use the Earned Value table for resources, you can compare the relationship between work and costs for resources. This table also helps you to evaluate your budget to estimate future budget needs and prepare an accounting statement of your project. You can use the information in the table to determine whether the work is getting done for the money that you're paying or whether you need more or less of a particular resource.

To display the Earned Value table for resources, follow these steps:

1. Start in any resource view, such as the Resource Sheet view.

2. Right-click the Select All button, and choose More Tables from the shortcut menu that appears.

3. Select Earned Value in the More Tables dialog box, and click Apply. Your screen will look similar to the one shown in Figure 14-6.

All the fields in this sheet are calculated, except BAC. You can type values in this field to change information in the table.

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$700.00

so.oo

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$720,00

£000.00

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41,100.00

$0.00

$9.01)

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$0.00

31,400.00 $1,100.00

$0.00

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£540 00

£0.00

30 00

(5540.00)

10.00

3540.00 ISiO.OO

$0.00

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$0.00

£0.00

$0 00

$OO0

30.00

$0.00 30.GO

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30-00

£0.00

$0.00

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30.00

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$0 00

H .00

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r

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Figure 14-6: The Earned Value table for resources.

Figure 14-6: The Earned Value table for resources.

Using the Earned Value Cost Indicators and Earned Value Schedule Indicators tables

Project 2003 introduced two new tables that are similar to their cousin, the Earned Value for Tasks table; the main difference between them is the fields that you find in each table. The Earned Value Cost Indicators table for tasks enables you to compare the various cost factors in your project, as shown in Figure 14-7. The Earned Value Schedule Indicators table for tasks enables you to focus on the effects of scheduling variances on the cost of your project, as shown in Figure 14-8.

To display the Earned Value Cost Indicators table for tasks, start in any task view that contains a table. Then, right-click the Select All button and choose More Tables from the shortcut menu that appears. In the More Tables dialog box, select Earned Value Cost Indicators and click Apply.

To display the Earned Value Schedule Indicators table for tasks, start in any task view that contains a table. Then, right-click the Select All button and choose More Tables from the shortcut menu that appears. In the More Tables dialog box, select Earned Value Schedule Indicators and click Apply.

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$920.00

$920.00

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0.59

$920.00

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$920.00

$920.00

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0.59

$920.00

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$720.00

$720.00

($240.00)

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0.75

$720.00

$960.00

($240.00)

0

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Boù W>

$720.00

$720.00

($240.00)

$720.00

($240.00)

W

5

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$200 DO

$200.00

($400.00)

■200%

0.33

$200.00

ÎBOO.OO

($400.00)

0

W

Deena

$¿00.00

$200.00

($400.00)

$200.00

($400.00)

W

6

Send out inv

$0 00

$0.00

$0 00

0%

0

$0.00

JO.OO

$0 00

0

W

7

- Selection

92,637.50

$0.00

$0.00

0%

0

$2,537.50

£2,957.50

($120.00)

1

W

4 *

- Theme

$350.00

$0.00

$0.00

0%

0

$350.00

$350.00

$0.00

t

w

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Deena 7a>

$350,00

$0,00

$0 00

$350.00

$0.00

w

1-

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S1,050.00

$0.00

$0.00

0%

0

$1,050.00

$1,350.00

($300.00)

1

w

DdLstif

$500.00

$0.00

$0.00

$500.00

$0.00

w

intern

$300,00

$0,00

$0,00

$300.00

$0,00

w

10

- KeynoSe speakt

81,137.50

$0.00

$0.00

0%

0

$1,137.50

$1,257.50

($120.00)

1

w

Deena Tat

$107.50

$0.00

$0.00

$167.50

$0.00

W

Eiien Pect

$500.00

$0.00

$0.00

$500.00

$0,00

w

Bob Wooc

$450.00

$0.00

$0.00

$450.00

$0.00

w

11

- Hire

52,760.00

$0.00

$04)0

0%

0

$2,920.00

&Z,320.1]0

$0.00

1

VM

12

- Caterer

$800 00

$0.00

$0 00

0%

0

$800 00

tsoo.oo

$0 00

1

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Figure 14-7: The Earned Value Cost Indicators table closely resembles the Earned Value for Tasks table but focuses on different earned value fields.

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57,057.50

$920.00

<$6,137.50)

-86%

0.13

Worte

2

- Preplanning

5920,00

$320.00

$0,00

0%

1

Work

3

- Initial planning

5020.00

$920.00

$0.00

0%

1

Work

4

- Determine budgei

8720.00

$720.00

30.00

0%

1

Wort<

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S 720.00

$720.00

$0.00

Work

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£200 00

$200.00

$0.00

0%

1

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Deena Tat>e

$200.00

$200.00

$0.00

Work

6

Send out invitatio

$0 00

£0,00

$0 00

0%

0

Work

7

- Selection

52,537.50

50.00

($2,537.50)

100%

0

Work

4 °

- Theme

£350.00

£0.00

($350.00)

-100%

0

Work

£

Deena Tanenb-

$0.00

($3 50.00)

Work

a

- Säe

£1,050.00

£0.00

($1,050.00)

■100%

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Work

DdLSttf

$500.00

$0.00

$500.00}

Work

Intern

$300,00

$0,00

{$300,00)

Work

-

10

- KeynoJe speaker

S1,137.50

£0.00

($1,137.50)

-100%

0

Work

Ozena Tanenb.

$107.50

$0.00

($187.50;

Work

Bien Pec*

$500.00

$0,00

($500.00)

Work

Bob Woock

$450.00

$0.00

($450.00)

WorK

11

- Hire

52,760.00

50.00

($2,760.00)

-100%

0

Work

12

- Caterer

£800 00

£0.00

($800.00)

-100%

0

Work

-

íírtfi M

jJ

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Figure 14-8: The Earned Value Schedule Indicators table closely resembles the Earned Value for Tasks table but focuses on different earned value fields.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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