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Part 1 – Weekly Earned Value: Is It More Trouble Than it’s Worth?

March 18, 2013 Earned Value

The notion of implementing weekly Earned Value (EV) causes most Program Managers to cringe. Many companies, however, are now using weekly EV as an internal management process. The business driver for this decision is the benefits that contribute to the overall success of the program. The discipline of performing weekly EV ensures a more thorough […]

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EIA 748-C Released: EVMS

March 1, 2013 EIA-748

Are you aware that a revision to Electronics Industry Association (EIA) standard 748 Earned Value Management Systems, has been released? The new revision is EIA 748-C. Officials have been discussing the changes at recent industry conferences. No changes have been made to the 32 EVMS Guidelines in Sections 2.1-2.5 of the standard. The changes are primarily clarifications of the […]

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Earned Value Management – A Simple Explanation

February 10, 2013 EVMS General Topics

Earned value management or EVM in short is a strategy used by top management personnel to keep track of costs and schedules. Designed in the 1960’s by the US Department of Defense, the system was initially used to screen and acquire defense contracts. The criteria for cost and schedule control systems have been recently revamped, […]

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Rolling Wave Planning for Earned Value Management Systems

January 23, 2013 EVMS General Topics

If someone were to ask you: “Can you please give me a detailed explanation of what you will be doing on this date three years from now?” you would probably look at that person as though he or she were crazy.  It would probably be difficult to provide a detailed schedule of events for a […]

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Earned Value Management Systems (EVMS) – Residual Material Accountability – Part 4

January 3, 2013 EVMS General Topics

Another EVMS  residual material accountability requirement (see part 1, 2 and three) is that an Earned Value Management project must maintain records to show full accountability for material purchased for the contract, including the residual inventory. What does this mean?  The answer:  Regardless of the size of the contract, the EVMS Guidelines require contractors to maintain accurate records of […]

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EVM Material Earned Value – Price vs. Usage Variance Analysis – Part 3

December 4, 2012 Earned Value Management System (EVMS)

EVM (Earned Value Management) control account managers (CAMs) with material cost elements are required to conduct price vs. usage material cost variance analysis as a normal part of their root cause analysis for their control accounts.  This analysis is the material counterpart to conducting a labor rate versus hours (efficiency) cost variance analysis. Material price/usage analysis […]

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