Earned Value Management (EVM) is a project management technique used to measure project performance and progress in an objective manner. It integrates project scope, time (schedule), and cost parameters to provide accurate forecasts of project performance issues.
Here are the key components and common equations used in EVM:
Cost Variance (CV):
CV=EV−AC
Schedule Variance (SV):
SV=EV−PV
Cost Performance Index (CPI):
CPI=EVAC
Schedule Performance Index (SPI):
SPI=EVPV
First, load the package:
Then set the BAC, schedule, and current time period for a toy project.
Calculate the PV and print the results:
pv <- pv(bac, schedule, time_period)
cat("Planned Value (PV):", pv, "\n")
#> Planned Value (PV): 40000
Set the actual % complete and calculate the EV:
actual_per_complete <- 0.35
ev <- ev(bac, actual_per_complete)
cat("Earned Value (EV):", ev, "\n")
#> Earned Value (EV): 35000
Set the actual costs and current time period and calculate the AC to date:
actual_costs <- c(9000, 18000, 36000, 70000, 100000)
time_period <- 3
ac <- ac(actual_costs, time_period)
cat("Actual Cost (AC):", ac, "\n")
#> Actual Cost (AC): 36000
Calculate the SV and CV and print the results:
sv <- sv(ev, pv)
cat("Schedule Variance (SV):", sv, "\n")
#> Schedule Variance (SV): -5000
cv <- cv(ev, ac)
cat("Cost Variance (CV):", cv, "\n")
#> Cost Variance (CV): -1000
Calculate the SPI and CPI and print the results: