Earned value analysis (EVA) is a project management technique that allows you to track project progress against its budget and schedule. By comparing earned value (EV) to other metrics such as planned value (PV) and actual cost (AC), project managers can identify areas that are over or under budget and on or behind schedule. This information can be used to make corrective actions and ensure that projects are completed successfully.
There are many different ways to perform earned value analysis. One common method is to use an Excel template. Excel templates provide a pre-defined structure for tracking EV data. They can also be customized to meet the specific needs of your project.
Components of an Earned Value Analysis Excel Template
An earned value analysis Excel template typically includes the following components:
- Work breakdown structure (WBS): The WBS is a hierarchical breakdown of all the work that needs to be completed to complete the project. It is used to track progress on individual tasks.
- Schedule: The schedule outlines the planned start and finish dates for each task in the WBS.
- Budget: The budget outlines the planned cost for each task in the WBS.
- Earned value (EV): EV is the measure of the work that has been completed up to a given point in time. It is calculated by multiplying the percentage of work completed for each task by its planned cost.
- Planned value (PV): PV is the measure of the work that should have been completed up to a given point in time. It is calculated by multiplying the percentage of work planned for each task by its planned cost.
- Actual cost (AC): AC is the measure of the actual cost incurred up to a given point in time.
How to Use an Earned Value Analysis Excel Template
To use an earned value analysis Excel template, follow these steps:
- Enter your project data into the template.
- Calculate EV, PV, and AC for each task in the WBS.
- Plot the EV, PV, and AC data on a graph.
- Analyze the graph to identify areas that are over or under budget and on or behind schedule.
- Make corrective actions to ensure that the project is completed successfully.
Conclusion
Earned value analysis is a powerful tool for project management. By using an earned value analysis Excel template, you can easily track project progress, identify areas of concern, and make corrective actions. This can help you ensure that projects are completed successfully and on time.
If you are looking for an earned value analysis Excel template, there are many available online. Simply search for “earned value analysis Excel template” and you will find a variety of options to choose from.
