10Earned Value Reporting
What is an earned value report?
An earned value report is the preferred method for measuring progress in projects. It has the advantage of showing on one piece of paper the pertinent performance criteria for a project. From the earned value report the time-phased, planned expenditures for the project can be seen along with the actual cost of the project work that was accomplished and the amount of work that was actually completed. From this report the cost variance and schedule variance can be calculated.
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There are several factors in the earned value report that we must know in order to use it effectively. These factors are the budgeted cost of work scheduled (BCWS), the budgeted cost of work performed ...