The Earned Value Analysis data comprises of the following columns:
- Planned % Complete (Planned)Comp
It is calculated as (Hours (Est) of a task / number of working hours passed) )calculated based on the task's planned start and finish dates, and the current date.
For instance, if Task1 has 2 days duration (Friday and Monday) and if today is Monday morning then the Planned % Complete will be 50% as 8 working hours are passed (assuming default calendar). The hours passed depends on the server time.
- Actual Cost of Work Performed (ACWP)
It is calculated as (Hours Displays the actual cost (Cost(Actual) * User Cost Rate )
Displays the actual cost of work performed that has been done till date.
This includes the labor cost, pro-rated Cost(Fixed) and costable expenses. - Budgeted Cost of Work Scheduled (BCWS)
It is calculated as (% Complete (Planned, Baseline) * Budget (Baseline))
Displays the budgeted cost of work scheduled for a given period. using the duration of the task and the baseline cost.
For example, a project task starts on the 1st and gets over on the 10th of a month. If the budget is $1000, then on 3rd day of the same month, ideally 30% of the task should get completed and $300 should have been spent. Therefore, on the 3rd days the BCWS would be $300.
- Budgeted Cost of Work Performed (BCWP)
It is calculated as (% Complete x Budget ( Baseline Cost))
Displays the budgeted cost of work performed. This is the planned (not actual) cost to complete the work to date. For instance, a project starts on the 1st and gets over on the 10th of a month. If the budget of the project is $1000 and if the user has actually completed only 20% of the task till 3rd then the BCWP will be $200.
- Schedule Variance
It is calculated as (BCWP-BCWS)
Displays a comparison between the work performed during a given period of time with what was planned. A negative variance means the project is behind schedule. - Cost Variance
It is calculated as (BCWP-ACWP)
Displays a comparison between the budgeted cost of work performed with the actual cost. A negative variance means the project/task is over budget. - Schedule Performance Index (SPI)
It is calculated as ( % Complete / % Complete (Planned,Baseline)BCWP/BCWS)
SPI less than 1 means project / task is behind schedule.
- Cost Performance Index (CPI)
It is calculated as (BCWP/ACWP )
CPI less than 1 means project/task is over budget.