Earned Value: Fun with Numbers or Real Management Data?
by Humphreys & Associates | February 1, 2019 5:00 am
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.
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.
- EVM Implementations
- EVM Graph Quiz Testing Basic Earned Value Terms
In Part 2 we provided the answers to the EVM Quiz and provided detailed definitions and descriptions for each of the quiz terms.
- EVM Quiz Answers
- Management Reserve
- Schedule Variance
- Budget At Completion
- Contract Budget Base/Contract Target Cost
- Budgeted Cost for Work Scheduled
- Schedule Slip
- Variance At Completion
- Estimate At Completion
- Actual Cost of Work Performed
- Estimate To Complete
- Cost Variance
- Program Overrun
- Time Now
- Budgeted Cost for Work Performed
- Forecasted Program Schedule Slip
- Estimated Completion Date
- Discussion of the displayed data
Source URL: https://blog.humphreys-assoc.com/earned-value-real-management-data/
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