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Microsoft Project Earned Value and Project Tracking

Spring 2012

1.  Default Date in Project to calculate reports is today’s date. To Set Project Status Date to use instead –

  1. From any view
  2. Click on Project -- Project Information – Status Date List Box
  3. Select date you want Project to use when it calculates reports
  4. Click OK
  5. You must change this date each time you run a status report for each quarter in part 5.
  6. You must change this date when you run your report for part 5.

2.  All reports should reflect the title of the report, date of report, and your name on that report.

Tracking Actual and Remaining Durations

1. On the View menu, point to Table, and then click Tracking.

2. In the Act. Dur. (Actual Duration) enter the actual durations for the tasks you want to update.

3. In the Rem.Dur. (Remaining Duration) type the remaining durations for the tasks you want to update.

4. In the Actual Start and Finish columns type in the date changes.

Earned Value Reporting

Microsoft Project contains four (4) Earned Value tables

1.  Earned Value for Tasks

2.  Earned Value Cost Indicators

3.  Earned Value Schedule Indicators

4.  Earned Value for Resources

Earned Value for Tasks

1.  compares relationship between work and costs for tasks

2.  evaluates budget to estimate future budget needs and to prepare accounting statements of project

3.  answers – if work is being done for the amount of money spent or if a particular task needs more or less money

Earned Value for Resources

1.  compares relationship between work and costs for resources

2.  evaluates budget to estimate future budget needs and to prepare accounting statements of project

3.  answers – if work is being done for the amount of money spent or if a particular task needs more or less money

Earned Value Cost Indicators and Earned Value Schedule Indicators

1.  enables you to compare various cost factors in project

2.  enables you to focus on effects of scheduling variances on cost of your project

Earned Value Cost Indicators table closely resembles the Earned Value for Tasks table, but focuses on different earned value fields.

Category / Name / Definition
ACWP (now AC) / Actual cost of work performed / Shows actual costs incurred for work already done on a task, up to the project status date
BAC / Budget at completion (also Baseline cost) / Shows the total planned cost for a task, a resource for all assigned tasks, or for work to be performed by a resource on a task
BCWP (now EV) / Budgeted cost of work performed
(also earned value) / The cumulative value of the task’s, resource’s, or assignments’ percent complete multiplied by the timephased baseline costs up to project status date.
BCWS (now PV) / Budgeted cost of work scheduled (also planned value) / The cumulative timephased baseline costs up to the status date.
CPI / Cost performance index / The ratio of budgeted (or baseline) costs of work performed to actual costs of work performed, up to the project status date.
CV / Earned value cost variance / Shows the difference between how much it should have cost and how much it has actually cost to achieve the current level of completion up to the status date.
CV = EV - AC
EAC / Estimate at completion (also forecast at completion FAC) / Shows the expected total cost of a task based on performance up to status date.
EAC = ACWP + (baseline cost – BCWP)/CPI
(comparing EAC against original BAC yields VAC)
SPI / Schedule performance index / Shows the ratio of the budgeted cost of work performed to the budgeted cost of work scheduled (BCWP/BCWS). Used to estimate the project completion data.
SV / Earned Value Schedule variance / Shows the difference in cost terms between the current progress and baseline plan of a task, all assigned tasks of a resource, or for an assignment up to the status date.
SV = EV - PV
TCPI / To complete performance index / Shows the ratio of work remaining to be done to funds remaining to be spent as of status date.
TCPI = (BAC – BCWP)/(BAC-ACWP)
VAC / Variance at completion / Shows difference between the BAC and EAC for a task, resource; provides early warning of “how bad it will get if we keep this up”


Instructions for Part 5 of The Computer Belt Project

Due April 24 Beginning of class

Following the instructions in your text book and answering all the questions in Part 5 for each quarter,

1.  Make sure that you input the correct status date before you run your reports.

2.  You will need to put in the Actual duration information BEFORE running your report.

3. Your report will include:

a. Title page (title of this project, your name, and the submission date of this report)

b. Status Report must be typed. Double spaced. For the status report use the same layout as the report shown in the Chapter 13 PowerPoint slide.

c. Make sure your status report answers all the questions asked in Part 5.

d. Include a Tracking Gantt table and reports which includes PV, EV, AC, BAC, EAC, SV, CV, and CPI for each task to support your written report.

e. Be sure to staple your work together in order (title page, status report and supporting tables, and charts.)

f. label your printed project reports correctly.

Instructions for Part 6 of The Computer Belt Project

Due April 26th at beginning of class. Dropped off at my office SOM324C.

Following the instructions in your text book and answering all the questions in Part 6. This is a separate report.

1.  Follow the status report layout shown in Chapter 13 PowerPoint slide.

2.  Attach page 1 of Gantt Table, page 1 of Tracking Gantt Table and Earned value reports.

3.  REMEMBER to change the status date.

4.  Don’t forget your graph(s).

For both Part 5 and 6 print the following reports:

1.  Earned Value table

2.  Earned Value Cost Indicator table

3.  Earned Value Schedule Indicator table