Earned Value Analysis (EVA) is a method used to measure the project performance by analyzing specific schedule and cost KPI's and variances as the project progresses towards completion.
The EVA method compares the planned work with the actual finished work, at a specific point of time.
EV analysis helps project managers and project controls to determine the current project status in terms of costs, schedule and scope and take further actions to keep the project within the planned budget and time-frame.
Benefits of Earned Value Analysis:
ScheduleReader uses the project's Baselines as a foundation for performing Earned Value calculations, which are based on the P6 default settings and available in the Activity View.
Create your layouts with specific EV work, cost and time parameters, or import your layouts exported from P6, which you can use to quickly analyze project performance to date. Layouts can be further shared with other team members to align working with the same view of data.
Tracking the Cost Variance by comparing the project's completed costs vs the planned costs helps you deliver the project on budget.
Track the schedule’s progress and costs, through Labour Units parameters. Compare Actuals, Planned and Earned Value, and get Estimates.
Track project progress through Schedule and Cost Performance Indexes (SPI, CPI) and see how close the project is to completion.
By using ScheduleReader PRO, you can analyze different EV parameters and present summaries through custom made graphical reports.
Learn more about ScheduleReader PRO
The PRO version of ScheduleReader features predefined and custom made graphical reports and dashboard that are used to analyze and present key information and summaries of different project elements.
With ScheduleReader's earned value analysis you can early identify cost and schedule deviations, such as cost overruns and time delays and take actions on time.
EV analysis helps you avoid scope creep and keep a clear focus on milestones and business objectives to ensure on time completion of projects.
EV metrics can also help you forecast future project performance, manage risks and calculate what will it take to finish the project in terms of cost and time.
Earned Value Management Analysis provides the data that helps project controls and managers pro-actively manage the project progress.
ScheduleReader for Project Controls
Download ScheduleReader and follow these three simple steps to get started with analysis and improve the project cost and schedule performance.
Open ScheduleReaderTM and import your XER or XML project along with its Baselines.
Add the required Columns from the Earned Value list in the Activity, Project or WBS View.
Start analyzing different calculated EV parameters, metrics and variances to bring project to completion.
Download ScheduleReader™ and try the Earned Value Analyses!
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