Earned Value Management (EVM) uses specific metrics to measure, forecast and improve project performance. The principles of EVM are positive predictors of project success, yet organizations often struggle to assemble the source cost and schedule data to effectively support EVM initiatives.
EcoSys EPC is an ideal Earned Value Management System (EVMS) that supports all levels of earned value management needs — ranging from fundamental EV metrics like CPI and SPI to support of full EIA 748 compliance, formerly ANSI 748, for government agencies and contractors. EcoSys EPC is a scalable solution, allowing organizations to apply the appropriate level of rigor to their projects and processes, while adapting as EVM needs change over time.
EcoSys EPC for EIA 748
Achieving a validated EIA 748 EVMS requires a great deal of data, rigor, and adherence to process. EcoSys EPC provides extensive support for the 32 criteria that define a validated EIA 748 system. EPC allows for the definition of Control Accounts used for cost and schedule performance reporting, and the Work Breakdown Structures (WBS) beneath each Control Account as well as Organizational Breakdown Structures (OBS). Define these elements either directly within EcoSys EPC or by importing the data from Primavera P6, Microsoft Project, or other systems. EcoSys EPC provides extensive planning and budgeting capabilities to comply with the EIA standards, where budgets can be viewed across multiple programs by any attribute – cost element, OBS, and virtually any other attribute.
EcoSys EPC automates the generation of the standard Integrated Program Management Reports (IPMR), C/SSR, and CFSR reports, supported by integration with ERP and financial systems as well as scheduling, timesheet, and other enterprise systems.
Further, EcoSys EPC incorporates extensive change management processes, ensuring that adjustments to budgets, funding, performance, and other required attributes are maintained in a fully auditable historical record.
EVM for the Rest of Us
Earned Value Management does not need to be a burdensome process adopted for only the most complex projects. At EcoSys, we often advocate an EVM approach that we refer to as “EVM for the Rest of Us.” These are a set of core processes, inputs, and outputs that are appropriate for the scope and complexity of each type of project, and are practical to maintain. The result is a manageable earned value management system that provides insight into project performance and drives informed business decisions.
The pillars or inputs for EV analysis are a set of core project controls practices. EcoSys EPC supports these core practices, including work package management, budget management, change control, progress measurement, expenditure integration, and schedule integration. These foundational processes provide the framework to support robust analysis and performance management, allowing project teams to identify performance issues early, assess impact, and determine corrective actions.
- Rapid deployment and implementation of cost control processes for any level of EV process maturity
- Ease of use through Excel-like spreadsheet templates for updating and viewing progress and performance
- Fully tailorable terminology, EV/Credit rules, and progress cycle. Organizations using EPC are not bound to rigid terminology and techniques.
- Ability to provide cumulative and time phased/periodic EV
- Comprehensive reports, graphs, and performance dashboards
- Robust versioning/snapshot mechanisms
- Define and view custom Independent Estimates At Complete (IEAC) using the EcoSys EPC formula builder
- Roll up EV across projects for visibility into programs, portfolios, divisions, etc.
- Facilitate EIA 748 EVMS validation with extensive capabilities including the availability of all IPMR formats
Related White Papers
Related Case Studies
- Implementing an Earned Value Management/Cost Controls System at the FAA
- AREVA Inc. Improves Project Certainty with EVM Standardization Initiative