EVMS Guidelines and Required Elements

by Humphreys & Associates on February 2, 2022 last modified October 5, 2023

Video Contents

This video reviews the data points that an Earned Value Management System provides and how variances can be calculated from those data points.  Timely analysis of performance data and variances assists contractors to proactively resolve issues and effectively manage the remaining work on a project.

You can use the links below to jump to a specific part of the video.

Earned Value Contractors’ Internal Systems must be able to provide the following:
00:06Budgeted Cost for Work Scheduled (BCWS)
00:26Budgeted Cost for Work Performed (BCWP)
00:38Actual Cost of Work Performed (ACWP)
00:47Buget At Completion (BAC)
00:52Estimate At Completion (EAC)

Variances can be calculated using the BCWS, BCWP, ACWP, BAC and EAC.
00:58Variances Explanations
01:03Schedule Variance (SV)
01:19Cost Variance (CV)
01:31Variance at Completion (VAC)
01:45Why do we calculate Variances?

01:54EAC and BAC Comparison
2:06What does Variance at Completion (VAC) indicate?
2:18Structure your Earned Value Management System so that Variances can be traced to their source.
2:32Use your existing project management systems.

We also have additional free resources for learning about

You can also find Earned Value Definitions as well as additional free resources for learning more about EVMS concepts like Budgeted Cost for Work Performed (BCWP), Actual Cost of Work Performed (ACWP), Buget At Completion (BAC), and Estimate At Completion (EAC) in our EVMS Education Center and in other posts on this blog.

More EVMS Training

If you liked this video you can purchase the entire course below. This video is an excerpt from the Department of Defense (DOD) version of this eLearning module. We also offer the same course customized for the Department of Energy’s (DOE) specific Earned Value Management (EVM) implementation/requirements, as well as a version of the course customized for NASA’s EVM implementation/requirements.  

— Purchase This Course —
EVMS DOD Virtual Learning Lab

— Purchase the DOE Version of this Course —
EVMS DOE Virtual Learning Lab

— Purchase the NASA Version of this Course —
EVMS NASA Virtual Learning Lab

EVMS Document Matrix

EVMS Document Matrix

Not sure what the different requirements are between the DOE and NASA? Can’t remember if Cost and Software Data Reporting (CSDR) is required for an NSA contract? Check out our easy to read Earned Value Management Systems Document Matrix

All Online Courses

All Online Courses Available from Humphreys & Associates

Earned Value Training

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