Earned Value Formulas A Comprehensive Reference Guide
Professionals as well as pmp aspirants frequently need to refer to earned value formulas either for exam preparation of for implementation.
Earned Value Analysis is an effective tool to monitor and control project progress and also predict project health. Earned Value Management indices such as schedule performance index and cost performance index assist in reporting project status. Further Earned Value Analysis can also forecast project completion dates as well as budget required for completing the balance work.
In fact many believe that the earned value management (evm) formulas are difficult to remember. However, with little practice and understanding anyone can recollect these formulas.
Following paragraphs enumerates all essential earned value formulas for preparation of pmp certification examination.
Earned Value Management Formulas & EVM Graph
The following picture summarizes various earned value management formulas. The earned value graph below illustrates attributes of earned value management system. The earned value graph which is a standard S-Curve also helps to understand concepts and remember formula is an easy way.
Also read: Project Management Formulas
Earned Value Management Quiz
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