Earned Value Analysis Notes: Definitions & Explanations PDF | Download eBooks
Study Earned Value Analysis lecture notes PDF with project management definitions and explanation to study “What is Earned Value Analysis?”. Study earned value analysis explanation with project management terms to review project management course for online MBA programs.
Earned Value Analysis Definition:
Earned Value Analysis uses schedule performance measurements such as schedule variance (SV) and schedule performance index (SPI) are used to assess the magnitude of variation to the original schedule baseline.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Earned Value Analysis Notes:
The estimated costs of the activities and the overall project must also be controlled. Using the data of the cost related estimates, some data analysis techniques are used. One of them is called earned value analysis. Earned value analysis is a technique that is used to compare the actual cost performance with the estimated one. Earned value analysis takes three dimensions into consideration. The first dimension is called planned value which is the official budget of the project and its associated activities. The second dimension is called earned value which shows the authorized budget of the work that is completed at that point in time. The third dimension is called actual cost which shows the actual cost that is incurred for the performed work till that time period.
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