Measure Performance Against the Baselined Plan
Earned value analysis measures project performance by analyzing schedule and cost KPIs and variances as the project progresses toward completion.
The idea
Planned Work Against the Work Actually Finished
Earned value analysis compares the planned work with the actual finished work at a specific point in time, so cost, schedule and scope can be judged together.
Schedule and Cost KPIs
Earned value analysis tracks specific schedule and cost key performance indicators and variances as the project progresses.
Planned Against Actual
The method sets the planned work against the work actually finished at a chosen point in time, so the difference is visible.
Built on Baselines
ScheduleReader uses the project baselines as the foundation for the calculations, based on the P6 default settings and available in the Activity View.
In practice
Analyze Schedule and Cost Earned Value KPIs
Read Performance to Date in One Layout
Create layouts with the earned value work, cost and time parameters you need, or import layouts exported from P6, and read project performance to date in one place.
- Cost variance: completed costs against planned costs
- Labor units: actual, planned and earned value, with estimates
- Performance index: schedule and cost performance indexes (SPI, CPI)
Benefits
What Earned Value Lets You Do
The data helps project managers and project controls keep the project within the planned budget and timeframe.
Detect Problems Early On
Identify cost and schedule deviations, such as cost overruns and time delays, early enough to take corrective action.
Adhere to the Planned Schedule
See where the project stands to date, avoid scope creep, and keep a clear focus on milestones and business goals.
Manage Future Scenarios
Forecast future performance, costs and completion dates, and calculate what it will take to finish in terms of cost and time.
Performance to date
The KPIs Behind the Project Status
Three parameters do most of the work when reading performance to date.
Cost Variance
Track cost variance by comparing the completed costs against the planned costs, so you can deliver the project on budget.
Labor Units
Track progress and costs through labor unit parameters, and compare actuals, planned and earned value, with estimates.
Performance Index
Track project progress through the schedule and cost performance indexes and see how close the project is to completion.
How you work with it
In the Activity View, with PRO for the Reports
Earned Value in the Activity View
The earned value parameters are based on the P6 default settings and are available in the Activity View, alongside the rest of the schedule data.
- Cost variance
- Labor units
- Performance index
Graphical Reports and Dashboards
In ScheduleReader PRO you can analyze earned value parameters and present summaries through predefined and custom graphical reports and dashboards.
- Predefined EV reports
- Custom graphical reports
- Share with the team
Layouts with the EV parameters you need can be shared with other team members, so everyone works in the same view of the data.
FAQ
Frequently Asked Questions
What Is Earned Value Analysis?
Earned value analysis is a method for measuring project performance by tracking schedule and cost KPIs and variances as the project progresses toward completion. It compares the planned work with the actual finished work at a specific point in time.
Where Does the Earned Value Data Come From?
ScheduleReader uses the project baselines as the foundation for the earned value calculations. The values are based on the P6 default settings and are available in the Activity View.
Which Parameters Can I Analyze?
Cost variance, labor units, and the schedule and cost performance indexes, among the EV work, cost and time parameters you place in your layout.
Can I Use My Own P6 Layouts?
Yes. Create layouts with the EV parameters you need, or import layouts exported from P6, and share them so the team works in the same view.
Do the Earned Value Reports Require PRO?
The earned value parameters are available in the Activity View. Presenting the data through custom graphical reports and dashboards is part of ScheduleReader PRO.
Get started
Try Earned Value Analysis on a Real Schedule
Open a live .xer file, read the EV parameters, then decide. 15 days, no obligation.