MS Project 9 - Earned Value

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This 20 min tutorial walks you through how MS Project facilitates Earned Value Analysis of your project during the execution stage. It does assume a degree of familiarity with EV analysis.
The MS Project Series:
MS Project 1 - Introduction "The Environment" ( • MS Project 1 - Intro (... )
MS Project 2 - Display Settings and Saving a Template ( • MS Project 2 - Intro D... )
MS Project 3 - Project Info and Task Entry ( • MS Project 3 - Project... )
MS Project 4 - Task Precedence/Dependencies ( • MS Project 4 - Task Pr... )
MS Project 5 - Entering and Assignment Resources ( • MS Project 5 - Resourc... )
MS Project 6 - Resource Conflicts and Levelling ( • MS Project 6 - Resourc... )
MS Project 7 - Establish a Baseline ( • MS Project 7 - Setting... )
MS Project 8 - Tracking Progress and Variance ( • MS Project 8 - Trackin... )
MS Project 9 - Earned Value ( • MS Project 9 - Earned ... )
MS Project 10 - Managing Change Orders ( • MS Project 10 - Managi... )
MS Project 11 - Crashing the Project ( • MS Project 11 - Projec... )
MS Project Quick Tips
Common Resource Pool ( • MS Project Quick Tip: ... )
Master Project File ( • MS Project Quick Tip: ... )
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11 окт 2024

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Комментарии : 17

@stasidanova4764 2 года назад

I am very glad that i discovered you channel. But I didn't understand how to show that spent money is more that plan in ms project when the % complete is for example 33%

@PatJHeffernan 2 года назад

Hi Stasi. In Earned Value analysis the cost variance indicates whether you are over or under budget. If it is negative, you've spent more money than you budgeted (or planned) for the work completed. For a deeper dive into the background of Earned Value follow this link: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VQCllQw_Xec.html . Hope this helps.

@larslind1363 2 года назад

Excellent video, thank you very much. I would love to see the video about Earned Value theory that you're mentioning in the beginning, can you share it somehow? I would really like to know exactly how Project calculates EV and if it's possible to change some settings there (other than the "physical % complete" option).

@PatJHeffernan 2 года назад

Hi Lars, here is the link to the EV video (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VQCllQw_Xec.html). Let me know if it answers your question. It is the theory behind EV and not how MSProject manages it. Good luck!

@larslind1363 2 года назад

@@PatJHeffernan I saw the video, thank you for that. I still don't quite understand how Project calculates Earned Value. To me, the logical thing would be % Work Complete (at the point in time in question) times Baseline Cost. But that doesn't seem to be the case. Neither is it % Complete time Baseline Cost. It's a bit of a black box. Could you share some insight?

@PatJHeffernan 2 года назад

@@larslind1363 Hi Lars. I suspect your confusion may stem from settings in your Resource Sheet. Each resource needs to be set to have its costs accumulated either "prorated", "start", or "finish". It sounds to me like you prefer prorated for your specific project/industry/logic. I would certainly add that this may not be the case depending on the specific resource. Hopefully this solves your question. If not, pop me a note and I'll look into it a bit deeper. Cheers.

@larslind1363 2 года назад

@@PatJHeffernan they are set to "prorated" by default, which is the setting that works the best for me (although I've never used "start" or "finish"). But what exactly goes into the EV calculation is a mystery. If you're willing to look into it, what's the best way to contact you?

@vikasbhat6077 2 месяца назад

Thanks for brilliant videos for MPP. Please share the link for EVM theory.

@PatJHeffernan 2 месяца назад

@@vikasbhat6077 Here is the link to the tutorial on the fundamentals of Earned Value: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-VQCllQw_Xec.html

@vikasbhat6077 2 месяца назад

@@PatJHeffernan Great thankyou.

@Weldegabriel24 Год назад

How do you customize the columns to your company budgetary issues?

@PatJHeffernan Год назад

Customizing columns, while not difficult, is not trivial either. I'll put it on the list for a video to develop! Thanks for the suggestion.

@lions85 6 месяцев назад

Hello, very interesting video. It would be possible in MS project to create an excel report at every status update with the EV columns in the way to create my customized graphs in excel or even in powerapps? Thanks

@PatJHeffernan 6 месяцев назад

I’ve not tried to do that but I suspect it is possible. My next effort is going to be using Power BI to build a dashboard with hooks into MSProject.

@lions85 6 месяцев назад

@@PatJHeffernan Hello, thank you for your help. I am trying to use earned value on my project but I am freaking because the project is not really standard. It would be possible to ask you a couple of question to help me figure it out? How can I write you? Thanks a lot