Get the free EARNED VALUE CHEAT SHEET

EARNED VALUE CHEAT SHEET GENERAL TERMS ABB. PV (BOWS) EV (BCP) AC (ACP) BATTERY Planned Value (Budgeted Cost of Work Scheduled) Earned Value (Budgeted Cost of Work Performed) Actual Cost (Actual Cost

How to fill out earned value cheat sheet

How to fill out earned value cheat sheet:

1. Start by gathering the necessary project information, such as the project name, start date, and end date.
2. Identify the work packages or deliverables of the project and list them down in the cheat sheet.
3. Determine the planned value (PV) for each work package, which represents the budgeted cost of the work scheduled to be completed.
4. Calculate the earned value (EV) for each work package, which represents the budgeted cost of the work actually completed.
5. Calculate the actual cost (AC) for each work package, which represents the total cost incurred in completing the work package.
6. Calculate the schedule variance (SV) by subtracting the PV from the EV. A positive value indicates that the project is ahead of schedule, while a negative value indicates a delay.
7. Calculate the cost variance (CV) by subtracting the EV from the AC. A positive value indicates that the project is under budget, while a negative value indicates a cost overrun.
8. Calculate the schedule performance index (SPI) by dividing the EV by the PV. This provides insight into the efficiency of the project in terms of cost and schedule.
9. Calculate the cost performance index (CPI) by dividing the EV by the AC. This indicates the efficiency of the project in terms of cost.
10. Monitor and update the earned value cheat sheet regularly throughout the project to track progress and identify any potential issues.

Who needs earned value cheat sheet?

1. Project Managers: Project managers can utilize the earned value cheat sheet to assess the progress and performance of their projects, helping them make informed decisions and take appropriate actions to meet project objectives.
2. Stakeholders: Stakeholders such as clients, sponsors, and executives can benefit from the earned value cheat sheet as it provides a clear and concise overview of the project's cost and schedule performance, enabling them to evaluate the project's progress and make strategic decisions.
3. Project Team Members: Team members involved in the execution of the project can use the earned value cheat sheet as a tool for tracking their individual work packages, helping them understand how their efforts contribute to the overall project progress and success.

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What is earned value cheat sheet?

Earned value cheat sheet is a tool used in project management to track the performance and progress of a project by comparing planned performance and actual performance.

Who is required to file earned value cheat sheet?

The project manager or person responsible for project management is usually required to file the earned value cheat sheet.

How to fill out earned value cheat sheet?

The earned value cheat sheet is filled out by inputting planned values, actual values, and earned values for various project tasks or activities.

What is the purpose of earned value cheat sheet?

The purpose of the earned value cheat sheet is to provide insight into the performance and health of a project by comparing planned performance with actual performance.

What information must be reported on earned value cheat sheet?

The earned value cheat sheet must report planned values, actual values, earned values, and other key performance indicators for project tasks or activities.