Scope

To develop a Project Management Tool with Earned Value Analysis Support.

Earned Value Analysis

Introduction
Earned Value Analysis (EVA) is an industry standard method of measuring a project's
progress at any given point in time, forecasting its completion date and final cost,
and analyzing variances in the schedule and budget as the project proceeds. It
compares the planned amount of work with what has actually been completed, to
determine if the cost, schedule, and work accomplished are progressing in
accordance with the plan. As work is completed, it is considered "earned".

Advantages and Benefits

1) EVM keeps the management on their toes. As EVA is done periodically,
management tries to make sure that all the project parameters are on track.
2) It is probably the only system used at present, which tracks the project in terms
of work, time and money.
3) Timely performance measurement makes sure that steps can be taken to the
bring project back on track before its too late.

Important EVA Measures

The Planned Value (PV), (formerly known as the budgeted cost of work scheduled or
BCWS)that portion of the approved cost estimate planned to be spent on the
given activity during a given period.
The Actual Cost (AC), (formerly known as the actual cost of work performed or
ACWP)the total of the costs incurred in accomplishing work on the activity in a
given period. This Actual Cost must correspond to whatever was budgeted for the
Planned Value and the Earned Value (e.g. all labor, material, equipment, and
indirect costs).
The Earned Value (EV), (formerly known as the budget cost of work performed or
BCWP)the value of the work actually completed.
Cost Variance (CV) = EV - AC
Schedule Variance (SV) = EV - PV

Cost performance index (CPI) = EV / AC

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Cumulative CPI = The sum of all individual EV budgets divided by the sum of all
individual AC's

Schedule performance index (SPI) = EV / PV

Tools supporting EVA

Planisware V6, Deltek wInsight, Deltek MPM, Deltek Cobra, Primavera P6, Microsoft
Project and LIBREPLAN.

Basic Requirements for Earned Value Analysis Tool

1)
2)
3)
4)
5)

Work Breakdown Structure

Resource Definition and Assignment
Setting up a project baseline
Calculating Earned Value Measures
Reports and Charts

My Observations
Use C# and Windows Presentation Foundation (WPF) for development
Use a third party library for Gantt chart control that most closely matches our
requirements. Check
http://www.telerik.com/products/wpf/ganttview.aspx
http://www.infragistics.com/products/wpf/charts/gantt
https://www.syncfusion.com/products/wpf/gantt
Also, take into consideration will using third party library support for Reports and
Chart. If support is available then use that library otherwise pick some open source
solution for displaying reports and charts.

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