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Free Performance Management Kit Discover Fast, Simple and Inexpensive Techniques to Turbo Charge Your Organization's Performance (a $487 value) |
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Performance Management Fundamentals Guide. This guide reveals all the components of Lifecycle Performance Management FREE guide.
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Organizational Performance & Best Practice Analysis. Find out how well your organization applies the 35 best practices and 48 key performance management processes...click here>
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Performance Management Kit. The complete enterprise performance management solution...click here>
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Step by Step Performance Guide. Learn how to overcome the obstacles that bring your performance to a halt...click here>
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Performance Resource Pack. Looking to build on your existing performance program? Get all the necessary resources here>.
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Performance Templates. Save time and add structure to your performance initiatives... Click here>
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Performance Workshops. Give your team the training it needs to perform at it's highest level. Click here>
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Metrics Repository. These 600+ metrics and KPIs will make sure you're measuring the right things. Click here>
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Methodologies Guide. These performance frameworks will walk you through every challenge. Click here>
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Learning Center
Free Zone
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Video Seminars. This 10 volume video set reveals the secrets that high performing organization's know. Click here> |
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Business Intelligence Tools Guide. Don't spend another dollar on tools until you've read this. Click here> |
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Phase Guides. Manage performance at any stage of your initiative. Click here> |
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Decision Support Systems Guide. Learn 93 techniques successful teams use to make decisions. Click here> |
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Performance Management Presentation Pack. Tackles 15 performance challenges that most companies face. Click here> |
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120 Day Plan. Learn the 179 processes and dependencies to manage your performance initiative w/in 120 days. Click here> |
Earned Value Management Calculators
Earned Value Management (EVM) is a project management technique for measuring project progress in an objective manner. EVM has the ability to combine measurements of scope, schedule, and cost in a single integrated system. When properly applied, EVM provides an early warning of performance problems. In addition, EVM helps define project scope, prevents scope creep, and communicates objective progress to stakeholders, and keep the project team focused on achieving progress.
Earned Value Measurements includes Cost Performance Index (CPI), Schedule Performance Index (SPI), Cost Variance (CV), and Schedule Variance (SV) formulas.
This section is designed to help you better understand how to control the cost and schedule of your projects by illustrating the different ways to measure each.
Please Note: These calculators function best in Internet Explorer.
Cost Performance Index (CPI) Equations
Cost Performance Index (CPI) is the ratio of budgeted costs to actual costs (BCWP/ACWP). CPI is often used to predict the magnitude of a possible cost overrun by dividing it into the original cost estimate (original cost estimate/CPI = projected cost at completion).
A CPI greater than 1 is good (under budget)
- < 1 means that the cost of completing the work is higher than planned (bad)
- = 1 means that the cost of completing the work is right on plan (good)
- > 1 means that the cost of completing the work is less than planned (good or sometimes bad).
Having a CPI that is very high (in some cases, very high is only 1.2) may mean that the plan was too conservative, and thus a very high number may in fact not be good, since the CPI is being measured against a poor baseline. Management or the customer may be upset with the planners since an overly conservative baseline ties up available funds for other purposes, and the baseline is also used for manpower planning.
- Cost Performance Index (CPI)
- budgeted cost of work performed (BCWP)
- actual cost of work performed (ACWP)
Schedule Performance Indicators (SPI) Equations
Schedule Performance Indicator (SPI) is a measure of schedule efficiency on a project. It is the ratio of earned value (EV) to planned value (PV). A positive value (i.e. greater than 1) indicates that work is ahead of schedule. A negative value (i.e. less than 1) indicates that work is behind schedule
- budgeted cost of work performed (BCWP)
- schedule performance index (SPI)
- budgeted cost of work scheduled (BCWS)
Cost Variance (CV) Equations
Cost Variance (CV) is the difference between the budgeted and actual cost of work performed.
Cost Variance equals Earned Value minus Actual Cost (CV=EV-AC). If the resulting value for the cost variance is a number greater than zero (or “positive value”), then it is considered to be a favorable cost variance condition. A value that is less than zero, or a resulting “negative” value, represents a cost variance that is considered less than favorable.
Schedule Variance (SV) Equations
Schedule Variance is any difference between the projected duration for an activity and the actual duration of the activity. Also the difference between projected start and finish dates and actual or revised start and finish dates.
The difference between BCWP and BCWS, schedule variance shows how the current schedule compares with the baseline schedule (in terms of time progress. This can be shown as a numeric difference, where positive values indicate that the schedule is ahead of the baseline schedule and negative values which indicate that work is behind schedule. It can also be expressed as a percentage such as: SV(%) = (BCWP-BCWS) x 100 / BCW.
- budgeted cost of work scheduled (BCWS)
- budgeted cost of work performed (BCWP)
- schedule variance (SV)
Schedule Variance at Completion (VAC) Equations
VAC (Variance at Completion) is the BAC (Budget at Completion) - EAC (Estimate at Completion, or real costs).
A project is over budget if VAC is a negative number (EAC greater than BAC) and it is under budget if VAC is positive (BAC greater than EAC).