Graphing Earned Value

Let's turn our attention from numbers to graphs. Sometimes the graphical depiction is very instructive and more quickly grasped than the numbers. For the moment, let us consider the project situation as depicted in Figure 6-4. The equations from Table 6-4 have been used to draw some curves. To make it simple, the curves are actually straight lines. There is no loss of generality for having straight lines for purposes of variances. However, the slope of the cumulative line at the point of evaluation affects the forecast, so just connecting some widely spaced points may create errors in the forecast.

PV/ at CofTiplele ^

PV/ at CofTiplele ^

12m 34m

Pfojed'i Schedule Hsnse (iarget ; Figure 6-4: Project Example 1.

EAC = S47.fl, 34.3m Variantes:

Cost = - £62 = "SJ ËîhcdiJlc = S73 - SS-5 = -S7

Indexes:

SAC = IS + (5B3-Ç7&1 " t2tf£B3 - S9Sh SAC = 34.Sm

12m 34m

Pfojed'i Schedule Hsnse (iarget ; Figure 6-4: Project Example 1.

5B5SL 12mj

In Figure 6-4, we see a project already under way with a vertical line drawn at the evaluation point. The curves are the aggregated sums of all the work packages in the WBS up to the evaluation point. The PMB extends for the whole project. Thus, these curves represent the project situation overall. At a glance, the experienced project manager can see that the earned value curve is below the actual cost curve, so there is a cumulative unfavorable cost variance to the earned value. The earned value curve is also below the PMB, so there is a schedule variance as well.

EV curve below AC means: unfavorable cost variance EV curve below the PMB or PV means: unfavorable schedule variance

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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