EARNED VALUE, CPI, SPI, CV, EV?- PMP EXAM PREP

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EARNED VALUE BASICS - Solving problems and looking at the basic formulas for EV metrics.

The projects I used EVM had defined points in the project where different % percentages were claimed as complete. A project could be broken down at the Project Manager's discretion into:
Milestone 1 - 20% complete
Milestone 2 - 50% complete
Milestone 3 - 30% complete

The PM has to decide at what point to claim work as complete and how much will be claimed. The success in EVM implementation revolves around accurate Budgeting (BAC) and the breakdown into PV for the relevant time periods and also BCWP (EV itself) the work has to be Budgeted as accurately as possible.
Sometimes the work is under budgeted which gives inaccurate EV metrics.

You may refer to this article: http://en.wikipedia.org/wiki/Earned_value_management
For extra reading. Also there is a study material Earned Value Basics 2 on the LMS for further study.

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Tags:

• PMP
• EXAM
• PROJECT
• MANAGEMENT
• BUSINESS
• EARNED
• VALUE
• CPI
• SPI
• EV
• CV
• SV
• PMI