1. What is Earned Value?

Earned Value (EV) is a project management technique that measures project performance by comparing the amount of work planned with what has actually been completed, in monetary terms. It's a key component of Earned Value Management (EVM).

2. How Does the Calculator Work?

The calculator uses the Earned Value formula:

Where:

• \( EV \) — Earned Value (in dollars)
• \( \%\ complete \) — Percentage of project completed
• \( BAC \) — Budget at Completion (total project budget)

Explanation: The formula calculates the value of work actually performed by multiplying the percentage of project completion by the total project budget.

3. Importance of EV Calculation

Details: Earned Value analysis helps project managers understand whether the project is on budget and on schedule by comparing EV with actual costs and planned value.

4. Using the Calculator

Tips: Enter the percentage of project completion (0-100%) and the total project budget (BAC). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between EV and PV?
A: Earned Value (EV) is the value of work actually performed, while Planned Value (PV) is the value of work planned to be completed by a certain date.

Q2: How is % complete determined?
A: % complete can be measured through various methods like 0/100, 50/50, or weighted milestones, depending on project type.

Q3: What is a good EV value?
A: Ideally, EV should equal PV (on schedule) and be higher than AC (under budget). EV < PV indicates schedule delay.

Q4: Can EV be greater than BAC?
A: No, EV cannot exceed BAC as it represents the earned portion of the total budget.

Q5: What other metrics use EV?
A: EV is used to calculate Cost Variance (CV), Schedule Variance (SV), CPI, and SPI for comprehensive project analysis.