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Earned Value Management RRS feed

  • Question

  • Hi I am struggling with some Earned Value Management calculations (within MSP2003) as a new Programme Director has requested Earned Value metrics on all projects

     

    I can manage new projects no problem, but I have a series of projects that are in progress and the previous management team specifically didn’t want costs added to project resource (total u turn now)

     

    My question thus relates to how to add and baseline costs within a plan that is already on progress and has a baseline set for dates, but not cost information

     

    I don’t want to loose the date information as we are still working to the original timescales, thus I don’t want to re-baseline the plan

     

    I have agreed to add a single task into the plan to cover all costs to date (so that we don’t have to calculate costs per task in the past

     

    I have read on one website that you should add the baseline cost information manually for completed tasks and re-baseline tasks in the future. But when I have attempted this the summary EV information is not changed with the manually amended data, so would In have to amend that summary information manually ?

     

    Another thought I had was to move the existing baseline schedule information into baseline2 and then re-baseline the whole project, and then to copy the schedule baseline information back into the primary baseline.

     

    Ideally I would look for full baseline set of only the cost fields, but I don’t think you can do this

     

    Any thoughts would be much appreciated

     

    Thanks

    Tuesday, June 7, 2011 10:44 AM

Answers

  • The challenge is that the EV calculations are based on timephased cost figures.
     Copy your project, rebaseline the entire project, and take a look at the
    Task Usage view (after adding cost & baseline cost) to see what data needs
    to be copied.
     
    My recommendation is to simply rebaseline the entire project as is, and work
    forward using the new baseline.  Copy your current baseline to Baseline1
    for historical review.
     
    Failing that, I guess you could copy the dates back into the baseline, but
    it may mess up your EV calculations, and may be more work than its worth.
     As a PM, I would give the explanation if asked that the tracking method
    was changed in mid-project.
     
    On your status reports, you could always use one baseline for schedule variance
    reporting and one for cost reporting - but I would guess that would get tedious
    and confusing before too long.
     
     

    Andrew Lavinsky [MVP] Blog: http://azlav.umtblog.com Twitter: @alavinsky
    Tuesday, June 7, 2011 1:48 PM
    Moderator
  • How about a compromise? Add a total Baseline Cost that represents teh agreed budget. For in progress proejcts, earned value is simply % complete * Budget. This will be an approximation but a reasonable compromise for in progress projects.

    Rod Gill

    The one and only Project VBA Book Rod Gill Project Management
    Tuesday, June 7, 2011 8:55 PM
    Moderator

All replies

  • The challenge is that the EV calculations are based on timephased cost figures.
     Copy your project, rebaseline the entire project, and take a look at the
    Task Usage view (after adding cost & baseline cost) to see what data needs
    to be copied.
     
    My recommendation is to simply rebaseline the entire project as is, and work
    forward using the new baseline.  Copy your current baseline to Baseline1
    for historical review.
     
    Failing that, I guess you could copy the dates back into the baseline, but
    it may mess up your EV calculations, and may be more work than its worth.
     As a PM, I would give the explanation if asked that the tracking method
    was changed in mid-project.
     
    On your status reports, you could always use one baseline for schedule variance
    reporting and one for cost reporting - but I would guess that would get tedious
    and confusing before too long.
     
     

    Andrew Lavinsky [MVP] Blog: http://azlav.umtblog.com Twitter: @alavinsky
    Tuesday, June 7, 2011 1:48 PM
    Moderator
  • How about a compromise? Add a total Baseline Cost that represents teh agreed budget. For in progress proejcts, earned value is simply % complete * Budget. This will be an approximation but a reasonable compromise for in progress projects.

    Rod Gill

    The one and only Project VBA Book Rod Gill Project Management
    Tuesday, June 7, 2011 8:55 PM
    Moderator