Earned Value Techniques (EVT) - Overview

XX/YY

A fixed formula earned value technique is used when work packages are scheduled to begin in one period and be completed within two consecutive accounting periods or less. The XX/YY (XX% at start and 100% upon finish) technique is typically used when the work package begins in one reporting period and completes in the next reporting period.

0/100

A fixed formula earned value technique is used when work packages are scheduled to begin in one period and be completed within two consecutive accounting periods or less. The 0/100 (0% at start and 100% upon finish) technique is typically used when the work package begins in one reporting period and completes in the next reporting period.

50/50

A fixed formula earned value technique is used when work packages are scheduled to begin in one period and be completed within two consecutive accounting periods or less. The 50/50 (50% at start and 100% upon finish) technique is typically used when the work package begins in one reporting period and completes in the next reporting period.

Level of Effort

Effort of a general or supportive nature that does not produce finite end products and cannot be practically measured by discrete earned value techniques. Earned value is measured by the passage of time. For LOE activity, BCWP = BCWS.

Apportioned Effort

A method of planning and measuring the earned value for effort that is both (a) related in direct proportion to measured effort and (b) by itself is not readily measurable or broken into discrete work packages.

Incremental (Weighted) Milestone

Incremental (Weighted) Milestone EVT (Earned Value Technique) is a method for measuring project progress by assigning budget values or percentages to milestones, earning value as milestones are achieved, particularly useful for long-term work packages.

Percent Complete with QBD

When using the "Percent Complete with QBD" discrete earned value technique, Quantifiable Backup Data (QBD) provides objective evidence to support the claimed percentage of completion, ensuring accurate reporting and defensibility during audits.

Percentage Complete

The percent complete earned value technique, assesses project progress by multiplying the actual percentage of work completed (% complete) by the budgeted cost of that work, providing a subjective but common method for estimating earned value.

Units Complete

An earned value technique used when physical counts of products or completed output are the measurement of status.

Program Evaluation Review Technique (PERT) Cost Formula

This method calculates BCWP by comparing the actual cost of received material (ACWP) to the expected total cost for that material (EAC) and applying the resulting percentage to the originally budgeted value for the material (Budget at Complete (BAC)), BCWP =(ACWP/EAC) x BAC. The use of this method requires that the EAC be evaluated and updated every month. This method is only appropriate for high quantity, low-value and low-risk material items.

No Earned Value

Selected when earned value is not being calculated on a tasks.

Weighted Percent Complete (Effort)

A technique used in Cora PPM for tasks that involve skills and resources, but not for materials or facilities. With this method, the Earned Value (EV) percentage complete is calculated as the sum of planned hours up to the status date divided by the total planned hours for the task. This technique provides an objective measure of progress based on the effort expended relative to the total planned effort.