Comments on: PMP Exam: Earned Value Management – Part 3, Forecasting Completion

By: SirGanttalot

SirGanttalot — Tue, 09 Mar 2010 08:47:15 +0000

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.

By: srini15574

srini15574 — Tue, 09 Mar 2010 08:47:15 +0000

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

By: keeno514

keeno514 — Tue, 09 Mar 2010 08:47:15 +0000

no comments, well …
no comments, well done videos, you are an expert of communication, you make it easy, thank you

By: keeno514

keeno514 — Tue, 09 Mar 2010 08:47:15 +0000

no comments, well …
no comments, well done videos, you are an expert of communication, you make it easy, thank you

By: SadeTabitha

SadeTabitha — Tue, 09 Mar 2010 08:47:15 +0000

Nice try. Keep it …
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By: Nolanobombarlo

Nolanobombarlo — Tue, 09 Mar 2010 08:47:15 +0000

OK, brilliant, i’ll …
OK, brilliant, i’ll try it out, thanks again for your help and very useful information

By: SirGanttalot

SirGanttalot — Tue, 09 Mar 2010 08:47:15 +0000

You are welcome. …
You are welcome. I’m glad they have been of use to you.

By: SirGanttalot

SirGanttalot — Tue, 09 Mar 2010 08:47:15 +0000

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.

By: dshahpatel

dshahpatel — Tue, 09 Mar 2010 08:47:15 +0000

Thanks You Sir …
Thanks You Sir Ganttalot, videos have been really helpful.

By: Nolanobombarlo

Nolanobombarlo — Tue, 09 Mar 2010 08:47:15 +0000

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