Earned Schedule- An improvement to EVM Scheduling Metrics
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- čas přidán 15. 09. 2017
- Earned Value Management (EVM) is a powerful tool for evaluating the schedule and cost performance of projects and predicting future results. However, existing earned value schedule performance metrics (SPI & SV) does not do a good job with schedule performance evaluation and prediction. Use of Earned Schedule enhances the earned value management ’s ability to accurately represent and forecast schedule information. Watch this video training to learn how.
Get the full video training, summary, transcript, podcast link, mp3 download, shareable quotes, and other posts related to this episode and topic at www.projectcontrolacademy.com...
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ABOUT THE INSTRUCTOR, SHOHREH GHORBANI
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Shohreh Ghorbani is an internationally recognized program developer and instructor in the field of Project Controls. As the founder and director of Project Control Academy, the leading provider of comprehensive and practical trainings in project controls and earned value management, Shohreh has served thousands of professionals to take their project controls skills to the next level. With her impressive track record in teaching and years of hands-on experience on a broad range of project control technical areas in various industries, clients have acknowledged Shohreh as a subject matter expert and passionate trainer who transfers the knowledge of project controls in a simple and understandable manner. Shohreh is a licensed project management professional (PMP) recognized by Project Management Institute (PMI) and a professional member of American Association of Cost Engineers (AACE). She holds a Master of Science in Industrial Engineering.
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We can look at introducing BAC (t) , ETC (t) & EAC(t) metrics to forecast completion times similar to Cost forecast by factoring schedule performance with time metrics
Planned Value curve in the graph for the later part of explanation is suppose to reach 1M at the planned duration, month 6 and the EV extending to the actual duration, month 9. apart from that, very informative. Thankyou.
Detailed explanation. Appreciated. Thank you
Our pleasure, Pallavi.
I commend you on the clarity which you spoke and the simply and effective way in which you explained.
Excellent video! Thank you and well done!
Many thanks, Pernel for your positive feedback. Much appreciated.
Tons of thanks! Very impressive presentation of each topic. God bless!
Many thanks for your positive feedback Chona. Much appreciated.
in later part, the planned curve ( green line) is also extended to meet the actual curve ( red ), in fact the green line should remain as it is.
Thanks for your attention Kg. Good observation. You are absolutely right. The PV curve should have been stopped at month 6. The calculations are right though.
I also got confused then.
Earned Schedule more make sense than Earned Value.
Good explanation.
Thank you
That's right Hardiyanto. Thank you.
Hi Shohreh,
Appreciated your effort.Perfect!.Well explained.
Thanks Mikayil for your support. Much appreciated.
Thanks madam, it's really helpful
Awesome. Glad to hear it was helpful.
Very detailed explanation, you made sure you speak slowly and with emphasis to important words. Good luck, looking forward to see more video.
Thanks Li Namnam.
SPI is a ratio , no question of units(say $) . Only issue is at the end it will come down to 1.
Excellent explanation. Very interesting and understandable. Very well rendered.
Thanks, Udatha. Glad to hear that it was easy to understand.
Good presentation. At the end of project illustration does not show the planned value curve correctly because the planned schedule value should end at six months rather than following the Earned Schedule out to nine months. The planned line should not be moving as the schedule variance begins to accumulate. If there is a way to get the information into a shorter amount of time, more concise, it would be even better.
Thanks for the correction Jon. You are absolutely right. The PV curve should have stopped at month 6. The calculations are right though.
great really
Thank you, Ahmed.
Nice proooject. Thanks.
Thanks Raja.
Thanks for the explanation, how is the calculation of earned value of indirect cost as well owner cost, CM cost, …
Thank you very much Ms.Shohreh!.. it is very helpful and informative..i actually encountered this dilemma in my previous work (dilemma when the spi is 1 but was already beyond the completion date).. thank you very much!.. i hope i came across this video during that time.. :) however, i just noticed the graph from your last example that the PV at the end of June does not reflect a 100% completion. Should not it be more proper to have it have its peak by End of june and flattens toward the end of september?
How can you determine Earned Schedule in a spreadsheet?
Yes, actually it works better in Excel and via calculations. Check earnedschedule.com/Calculator.shtml for calculators developed by the ES creator, Walter Lipke.
Thank you. Very good explanation. Can you explain "earned duration"?
Thanks for your comment. In regards to your question, there is no term as "earned duration". The 3 key elements of Earned Schedule technique are "Earned Schedule (ES), "Actual Time (AT)", and "Planned Duration (PD)". These elements were described in the video.
Much Appreciated your efforts in Project Management specially in Project control Management. Let me ask you, can we claim any PDUs for PMP certificate renewal against these training's?
Zafar, thank you for your message. We do offer official PMI PDUs as we are a registered education provider of PMI. However, we cannot offer PMI PDUs for our CZcams videos, as we don't have a means of assessing whether the viewer has watched the entire video or not. However, you can claim 1.5 PDUs by attending our free monthly webcasts. You can also get 10-35 PDUs upon the completion of our comprehensive training programs. You can check our website for more details. www.projectcontrolacademy.com/project-controls-training/
What is the difference between earned schedule and earned duration?
Thanks for your comment. In regards to your question, there is no term as "earned duration". The 3 key elements of Earned Schedule technique are "Earned Schedule (ES), "Actual Time (AT)", and "Planned Duration (PD)". These elements were described in the video.
Hi,
Can you pls explain me what is the difference between value of work done and earned value or budgeted cost of work performed. I'm really confused with these two terms
Ranjan, you are referring to the old EVM terminologies. Budgeted Cost for Work Performed (BCWP) also called Earned Value (EV), is the budgeted cost of work that has actually been performed. For getting more clarity on EVM, I suggest you check these EVM free training video series: projectcontroltraining.com/evmfreetraining/
Project Control Academy thank you
Our pleasure Ranjan.
I am sure the concept of earned schedule is floated by someone who has never been a scheduler on a project. The completion date is always calculated by scheduling tool (p6) which is dead precise. SPI was never intended to get the completion or end date of project. It's used as a monetary bench mark against which the work done (EV) is measured. I wonder why it's being inculded by PMI
We recommend you read the Earned Schedule book by Walter Lipke and all the case study applications of the accuracy and application of Earned Schedule in projects to get a better idea. Alternatively you can check the Earned Schedule website at www.earnedschedule.com/