Earned Value

[Marie]

I am working on a project and after the first month, we have done 50% of the
work and have spent 90% of the budget assigned for the tasks in month 1.
How can i use MS Project to calculate earned value and variances for this
project.
Please help!

 

[Jim Aksel]

You will want to use the Physical%Complete method for EV. I have a white
paper on it on the blog. Generally, here are the steps.

* Assign Costed Resources to all detail tasks.
* Change the EV Method to Physical%Complete (insert EV Type Column and
change it from there).
* Set Project to calculate ACWP for you (Tools/Options/Calculations tab)
*Strike baseline
* Set status date
* Key your Physical%Complete.
* Key remaining work and remaining duration
* Key Actual Work

We may get some blow back here from my peers. Some people use the regular
%Complete which is duration based for calcuations. To me, this produces
errors if the work distribution is not uniform for each task. If you want
more detail, it is in a white paper on my blog.
--
If this post was helpful, please consider rating it.

Jim Aksel, MVP

Check out my blog for more information:
http://www.msprojectblog.com

 

[Marie]

Hi Jim,
I have just printed out some information from your blog. I will work on it
today and see how it goes.
Thank you very much.
Marie.

 

[Marie]

I want to track the progress of my project at the end of the first month.How
do i set up the status date to the end of the first month.

 

[Rob Schneider]

I hope I understand your issue properly. Have you tried: Menu: Project
Information, input box "Status Date". Does this do the trick?

--rms

www.rmschneider.com