1. What is Earned Value Management?

Earned Value Management (EVM) is a project management technique that integrates scope, schedule, and cost to measure project performance. The Earned Value (EV) represents the value of work actually completed to date.

2. How Does the Calculator Work?

The calculator uses the Earned Value formula:

Where:

• \( EV \) — Earned Value (currency)
• \( \% Complete \) — Percentage of project completion (%)
• \( BAC \) — Budget At Completion (currency)

Explanation: The formula calculates the monetary value of work actually completed based on the project's total budget and completion percentage.

3. Importance of Earned Value Calculation

Details: EV calculation is crucial for project performance measurement, cost control, schedule tracking, and forecasting final project costs. It helps identify variances from the planned budget and schedule.

4. Using the Calculator

Tips: Enter percentage complete (0-100%) and Budget At Completion in currency units. Both values must be valid (percentage between 0-100, BAC > 0).

5. Frequently Asked Questions (FAQ)

Q1: What is the difference between EV and Actual Cost?
A: EV represents the value of work completed, while Actual Cost represents what was actually spent to complete that work.

Q2: How is % Complete determined in projects?
A: % Complete can be measured through various methods including milestone completion, physical progress measurement, or earned value techniques.

Q3: What is a good EV value?
A: Ideally, EV should equal Planned Value (PV). If EV < PV, the project is behind schedule. If EV > PV, the project is ahead of schedule.

Q4: Can EV be negative?
A: No, EV cannot be negative as it represents the value of work completed, which is always a positive value or zero.

Q5: How often should EV be calculated?
A: EV should be calculated regularly throughout the project, typically during periodic project status reviews or at major milestones.