Methods For Earned Value Analysis
- 0/100 Technique: The technique where a task is assigned a value of zero until such time that is completed when it is given a value of 100% of the budgeted value.
- 50/50 Technique: The technique in which a task is assigned a 50% value as soon as it is started and then given a value.
- 75/25 Technique: The technique where a task is assigned 75% on starting and 25% on completion.
- Milestone Technique: The technique where a task is given a value based on the achievement of milestones that have been assigned values as part of the original budget plan.
- Percentage Complete: In some cases, there may be a way of objectively measuring the amount of work completed.
What is Earned Value Analysis (EVA)?
DefenseEarned Value Analysis (EVA) is also called “Budget cost of work performed”. It is considered a refinement of the cost-monitoring technique. This analysis was first carried out USA’s Department of Defense (DOD). In this analysis, a “value” is assigned to each track or work package based on the expenditure forecast. The value assigned is known as the “planned value (PV)”. The work that has not yet begun is given a value known as the “earned value of zero”. The total value credited to a project is called “earned value(EV)”, which is also represented as “money value”.
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