What Are Earned Value Basics?

We used a quick quiz with some helpful links to give you an opportunity to test your basic understanding of an EVM graph from a real EVMS Program.  We go into detail about each concept displayed in the graph and our overall analysis of the project based shown in the graph.

Earned Value: Fun with Numbers or Real Management Data? Part 1

In Part 1 we reviewed where you could find more information about EVM Implementation and Basic Concepts of Earned Value on our site.  We also included a review quiz.

1. EVM Implementations
2. EVM Graph Quiz Testing Basic Earned Value Terms

Earned Value: Fun with Numbers or Real Management Data – Answers (part 2)

In Part 2 we provided the answers to the EVM Quiz and provided detailed definitions and descriptions for each of the quiz terms.

1. EVM Quiz Answers
2. Management Reserve
3. Schedule Variance
4. Budget At Completion
5. Contract Budget Base/Contract Target Cost
6. Budgeted Cost for Work Scheduled
7. Schedule Slip
8. Variance At Completion
9. Estimate At Completion
10. Actual Cost of Work Performed
11. Estimate To Complete
12. Cost Variance
13. Program Overrun
14. Time Now
15. Budgeted Cost for Work Performed
16. Forecasted Program Schedule Slip
17. Estimated Completion Date
18. Discussion of the displayed data

Tagged as: Actual Cost of Work Performed, Budget At Completion, Budgeted Cost for Work Performed, Budgeted Cost for Work Scheduled, Contract Budget Base/Contract Target Cost, Cost Variance, Earned Value Basics, Estimate At Completion, Estimate to complete, Estimated Completion Date, Forecasted Program Schedule Slip, Management Reserve, Program Overrun, Schedule Slip, Schedule Variance, Time-Now, Variance At Completion