Earned Value Management (EVM) supports the monitoring, measurement and management of project performance. Using standard metrics applied to scope, cost and schedule, EVM provides tools and techniques adopted by many organizations to help deliver projects on time and on budget.
EcoSys makes EVM easy no matter what level of rigor you need. Perform Earned Value Analysis (EVA) with real-time visibility into project performance. Utilize metrics such as Cost Performance Index (CPI) and Schedule Performance Index (SPI). Adhere to standards like EIA-748. Accurately predict project outcomes.
Key Benefits For Earned Value Management
EcoSys brings together all of the project information needed to understand what has been done,
where you are now and where you need to be.
Identify negative performance trends early and take corrective action
Apply standard progress and performance measurement techniques to all projects
Produce accurate forecasts and cash flow projections
Additional Earned Value Management Highlights
Leverage EcoSys to integrate project cost, schedule and performance data to provide a single project measurement and management solution:
- Tailor EVM to align with your processes, capability and maturity.
- Easily calculate earned value and generate KPIs.
- Calculate earned schedule to visualize progress and analyze delays.
- Analyze period, cumulative and time-phased performance.
- Apply custom Independent Estimates At Completion (IEAC) values.
- Analyze earned value across the enterprise to identify trends and issues.
- Quickly capture progress in the field using EcoSys Mobile.
- Automatically generate reports and dashboards.
- Improve communication between project stakeholders.
EcoSys for EIA-748
EcoSys provides extensive support for the 32 criteria of EIA-748 including: Control Account definition, Work Breakdown Structures (WBS) and Organizational Breakdown Structures (OBS).
Integrate with ERPs as well as scheduling, timesheet and other enterprise systems to quickly and accurately capture planned and actual project data. Automate the generation of the standard Integrated Program Management Data and Analysis Reports (IPMDAR), C/SSR and CFSR reports.
Track risks, issues, changes and lessons learned to maintain a fully auditable historical record.
Earned Value Management does not need to be a difficult process. If EVM is easy, you are more likely to use it on every project. We often advocate for using an EVM approach that works best for you, or “Right-Sized EVM.” These are a set of core processes, inputs and outputs that are practical to maintain. The result is a widely applicable version of EVM that provides better insight into the performance of any project and drives informed business decisions.
In order to achieve an optimized but easy EVM process for your organization, you must first build a solid platform for budgeting, forecasting and change management. Then, templatize and standardize progress measurement, reporting, EV terminology and metrics. The right software can help you create a centralized hub for EVM that gives you a full picture of project performance. To learn more about Right-Sized EVM and what capabilities you should look for in EVM software, download our eBook.