Http web server - Chapter 14: Using Earned Value Management in Software
Chapter 14: Using Earned Value Management in Software Projects 291 from your plan. Even though we are talking about a schedule, the variance is displayed in dollars. After all, time is money. To determine the variance, take the difference between the earned value and the planned value. For example, say your EV is $24,000 and your PV is $30,000. SV = EV PV EV = $24,000 PV = $30,000 EV - PV = $6,000 Because your SV is $6,000, your team isn t doing as well as you had planned with regards to the schedule. A positive number for your SV indicates that your team is ahead of schedule. You know that you re behind schedule when you have a negative number for your schedule variance. Evaluating your Variance at Completion We show you several variance formulas in the previous sections. A variance just tells you how much you vary from where you expected to be. One other item to evaluate is your Variance at Completion (VAC). VAC is the difference between what you budgeted to spend when you documented your original project plan and how much you expect to spend by the time you complete your project. To determine the VAC, you need to consider how much you budgeted to spend and, considering where you are right now, how much you estimate you will spend by the time the fat lady sings. The difference between these two is the VAC. Say your budget at completion is $120,000 and your EAC (considering where you are in the project right now) is $125,000. Here s what you do to determine the VAC: VAC = BAC EAC BAC = $120,000 EAC = $125,000 VAC = $120,000 $125,000 = $5,000
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