Bit confused with EV/PV/AC, need help

Submitted by shuchi on Sat, 07/06/2013 - 06:20

Hi,

I think know the concept of EVM. When I go through these terms or read definitions I feel I know them very well but when I do calculations (where I have to figure out given QN has given EV or PV, I really get confused). Can someone plz suggest my what should I do? Any tips/tricks, plz let me know.

Thanks.

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pmpnewster

Sat, 07/06/2013 - 07:49

 

PV, Planned Value, is the (estimated) value of work that is planned to have been completed upto a certain point in time.

EV, Earned Value, is the (estimated) value of work that has actually been completed upto a certain point in time.

Are you okay with both the above definitions and are you able to differentiate between the two?

If not, then I suggest you post some of the confusing questions here so that someone can respond.

 

Regards.

 

cnppmp1's picture

cnppmp1

Sat, 07/06/2013 - 15:13

Planned value is work to be completed for a given point of time in the project. This the consider the past value.


EX: if the budget at completion is 100000 for  a project with a tunre of one year, then the given point of time consider as 6 months then PV= 100000/0.5 =50000 (half year). thus suppsoe to be the planned value


Actual cost is the expended expenses (cost) at give point of time in the project, This is consider the past cost.


EX: If the actual cost incurred for this 6 months could be anything. So the given point of time is considered for 6 months.


EV is about the actual work accomplished at a given point of time.


Regards


CN Patil