Sir Ganttalot helps you prepare for the PMP exam by explaining Earned Value Management. This is a three part lesson. Part 1 covers basic concepts, i.e. how to derive PV (Planned Value), EV (Earned Value) and AC Actual Cost. (These terms are also known as BCWS, BCWP and ACWP respectively.) Part 2 shows how to apply these items to calculate variances (SV – Schedule Variance, CV – Cost Variance, SPI – Schedule Performance Index, CPI – Cost Performance Index). Part 3 explains how Earned Value Management is used to forecast project performance by calculating EAC – Estimate at Completion, ETC – Estimate to Complete, VAC – Variance at Completion, and TCPI – To Complete Performance Index.
Duration : 0:9:13
March 9th, 2010 at 3:47 am
Many thanks for the …
Many thanks for the fedback. I’m very pleased to know the videos are helpful. Best of luck with your studies.
March 9th, 2010 at 3:47 am
Outstanding, I love …
Outstanding, I love your series on PMP! Well explained, informative and easy to understand and learn.
March 9th, 2010 at 3:47 am
Vid 1 and 2 were …
Vid 1 and 2 were great however vid 3 just chalked all the formulas on the board w/out explaining more how they help. Also real world calculations as you did in 1 and 2 would solidify the content. Maybe a Vid 4 explaining more BAC, TCPI, EAC and vid 5 with could run through calculations… Love your help on 1 and 2
March 9th, 2010 at 3:47 am
Thank you. Very …
Thank you. Very useful
March 9th, 2010 at 3:47 am
Thank you Great …
Thank you Great videos
March 9th, 2010 at 3:47 am
Perfect!! Thanks …
Perfect!! Thanks for the explanation and taking time out to answer this. Its been a great help in me understanding these formulae.
March 9th, 2010 at 3:47 am
Hello Srini. The …
Hello Srini. The various versions of the PMBOK over the years have always just shown a selection of all the possible formulas that are actually used by EV practitioners in the real world. That formula you mentioned is perfectly valid, and for the Exam I would recommend that you learn it, as the PMBOK mentions it. This particular formula is used in circumstances where there has been a LOT of variability in performance, and you need to take account of both schedule and cost performance so far.
March 9th, 2010 at 3:47 am
Thanks for the …
Thanks for the video…
According to the PMBOK4, EAC in Scenario3 is AC+ [(BAC-EV)/CPIxSPI)].
Is there a reason why you omitted the product of CPI and SPI in your video?
Just want to know why it is not used, or how it can be used.
cheers
srini
March 9th, 2010 at 3:47 am
no comments, well …
no comments, well done videos, you are an expert of communication, you make it easy, thank you
March 9th, 2010 at 3:47 am
no comments, well …
no comments, well done videos, you are an expert of communication, you make it easy, thank you
March 9th, 2010 at 3:47 am
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March 9th, 2010 at 3:47 am
OK, brilliant, i’ll …
OK, brilliant, i’ll try it out, thanks again for your help and very useful information
March 9th, 2010 at 3:47 am
You are welcome. …
You are welcome. I’m glad they have been of use to you.
March 9th, 2010 at 3:47 am
The simplest thing …
The simplest thing to to is take the PV at the point you want to forecast for, and use that value in place of BAC in the various formulas. If you think it through, PV of the entire project is the same as BAC, so PV at a particular point is like the “Budget At” that same point. Hope this helps.
March 9th, 2010 at 3:47 am
Thanks You Sir …
Thanks You Sir Ganttalot, videos have been really helpful.
March 9th, 2010 at 3:47 am
Thanks so much for …
Thanks so much for posting these, they are very helpful.
Can I just ask though:
How do you ‘project forward your earned value or actual costs’?
Is there a way of accurately forecasting this curve at specific points in the future or is it a case of finding the EAC and then roughly drawing in an S type curve which links up to it?
Many thanks in advance
March 9th, 2010 at 3:47 am
Thanks sir .. You …
Thanks sir .. You are awesome.
March 9th, 2010 at 3:47 am
Your latest posting …
Your latest posting is a great boom to me as I a getting ready to take my PMP exam.
Thanks again!