How to Make Actual Cost Equal to Earned Value Cost in Primavera P6 : Step by Step Method AC=EV
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- čas přidán 28. 07. 2024
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How to Make Actual Cost Equal to Earned Value Cost in Primavera P6 : Step by Step Method
Welcome to Softedemy! In this video, we'll address a common challenge in project management: ensuring that your actual costs align with earned value costs. This alignment is crucial for accurate project tracking and control. Join us as we explore practical methods to achieve this equilibrium and enhance your project's financial visibility.
We'll begin by delving into the significance of equal actual and earned value costs, laying the groundwork for our solutions. Understand the core differences between these cost metrics and why achieving parity matters in project management.
Next, we'll dive into the practical steps to bridge the gap between actual and earned value costs. Learn how to utilize Microsoft Excel to harmonize these values effectively. We'll guide you through the process of exporting, modifying, and reimporting Excel files within Primavera P6, a pivotal project management tool.
Discover how to fine-tune the 'Calculate Cost from Units' option in Primavera P6, ensuring that your calculations accurately represent your project's progress and financial status. We'll also discuss the Global Change option and its implications, providing insights into its use for cost alignment.
Throughout the video, we'll present key concepts using a clear and step-by-step approach. Whether you're new to project management or a seasoned professional, our explanations will empower you to take control of your project's financial alignment confidently.
In summary, we'll outline various strategies, enabling you to select the method that best suits your project's needs. Finally, we'll wrap up with a concise conclusion, recapping the main points discussed in the video.
Relevant Videos
Timestamps
0:00 - Introduction to Softedemy: Setting the Stage
0:50 - Resolving Video Speed Issues: How to Adjust Playback Speed
1:30 - The Debate on Actual Cost vs. Earned Value Cost
2:00 - Importance of CPI and SPI in Earned Value Management
2:40 - What Won't Be Discussed: Future Topics Preview
3:10 - Key Terms in Earned Value Management: Core Elements
3:40 - Focusing on In-Progress Activities
4:15 - Discrepancies in Costs: Real World Example
4:45 - Exporting Data to Excel: Preparing for Modifications
5:15 - Excel Formulas: Calculating Actual and Remaining Units
5:45 - Saving and Importing Data Back to Primavera P6
6:10 - Adjusting Costs in Primavera P6: Final Touches
6:40 - The "Calculate Cost from Units" Option: A Closer Look
7:05 - Verifying Your Changes: Cost and Performance Matching
7:35 - Utilizing the Global Change Option: Not Recommended
8:05 - Video Conclusion: Wrapping Up
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Great, Thanks
Welcome
good work. Can you make the video for recovery schedule....
Recovery schedule video already their on my channel
Appreciate you, thank you for your time
I think activity percentage complete will change accordingly
I have one question, can I use this method while creating Recovery program only?
activity percent complete is also performance percent complete.
Also we have multiply the activity percent complete with budgeted units to get actual units .so it means cost percent will be equal yo activity percent .
No this is not relevant to recovery schedule
In recovery scedule you make equal performance and scedule percent complete.
Not cost or units percent complete.
Similar planner value and earned value should be equal in recovery plan .
It's doesn't mater what is the actual cost .
But may be in some case some fouls may ask to make actual cost as well equal.
Actual cost purposes is basically for cost performance monitoring
And earned value purpose is scedule performance based monitoring.
These both are dependent of different cost and time KPIs.
I have told in the topic.i will not debate on it. Because I know the basic concept of EVM.
Thanks
Softedemy
Thank you so much for your detailed explanation
@@AhmedAli-dj9jo welcome
Hi, I'm here again with some queries, kindly solve my query as always u do. When to use anticipated start and finish dates, what is Bl project start and finish dates, infact there are so many dates, all are so confusing, where to write tender dates?
In Primavera P6, dates are represented by various fields, such as the Actual Start field, Anticipated Finish field, BL Project Start field, and many more. Each of these date fields serves a unique purpose.
The Anticipated Start and Anticipated Finish fields denote the expected start and finish dates of the Project, EPS node, or WBS level. They are manually entered and remain unaffected by the scheduling process. Notably, these anticipated dates are not applicable at the activity level but only at the WBS, EPS node, or Project levels. Their main purpose is to manually capture your expected start or finish dates, with no direct relation to the scheduling of these dates.
On the other hand, the BL Project Start field represents the earliest start date of all activities in the project baseline, while the BL Project Finish field signifies the latest finish date of all activities in the baseline.
While it may seem daunting with so many date types, each serves its distinct role in the P6, differentiating and categorizing dates for clear project understanding. All dates have their particular function, and every single one has a rationale behind its use.
For tender dates, you'll need to navigate to the project tab, select the dates from the details below, and then assign the Project Planned start date. Following that, add the tender duration to determine the "must finish by" date, aligning it with the tender document's stipulations.
I trust this provides clarity on your inquiries regarding Primavera P6 dates.
@@SoftEdemy thanks a lot and respect for quick response and clarifying my each and every query everytime. Can you also clarify when to use anticipated start and finish dates. Actually from tender dates and schedule, we have to create baseline, but confused where these dates and durations should be entered. Is it anticipated start and finish dates, bl project start finsh date or Start and finish dates
@durgeshk9204 please find above response for your all questions.
I have also written which dates are used to put for duration and start date of your tender .
Read it again and again .the answer is very clear.
Anticipated dates are not used for activity scheduleing.
It's just a manual WBS and EPS nodes entries .No major role .
Just to remember at which date you have start scheduling and what are your Anticipated dates of finsh
@@SoftEdemy thanks, just correct me if I am wrong, tender dates in project planned start and subsequently start and finish dates and as it automatically update bl project start and finish dates for not started activities and finally assign baseline. Is it?
And I think, bl project start and finish dates and planned start and finish dates are same or is there any difference?
@@durgeshk9204 BL Project Start and Finish date are not automatically update , These are auto updating look a like when you haven't assigned baseline to your project. Primavera P6 considers current project as baseline. Also it don't assign automatically at final . its default that current project baseline is your schedule .
BL dates will be only consider when you have assigned a baseline for monitoring,
I have told in my all reply that all the dates field are different and their purpose are different. Please read this sentence again and again and note into your diary.
Planned start are different Bl start and finish.
Don't assume the column as by their name. As you may think that planned start means what you have planned , Its not like that.
this topic and very lengthy topic cannot be discussed in comments .
I have one problem Ev 47,556,754 Actual cost 45,428,656 what should I do please give me solution
Please follow above steps in the video. If the issue didn't resolve than tell me .
@@SoftEdemy I did steps which you create the video after that not matching EV AC
@@shaikahmed561 check if your cost is assigned in expenses or resources
@shaikahmed561 after importing,remaining budgeted units actual units and budgeted units and at completion.
Also don't forget to filter before applying activity percent calculation on budgeted units
@@SoftEdemy now I saw mistake in P6 What happens actually some activities click only start and without finish status put progress 100% so earned value show's more actual cost