PMP Exam: Earned Value Management - Part 2, Variances and Index Values
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- เผยแพร่เมื่อ 14 มี.ค. 2009
- 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.
SirGanttalot, Thank you for this fantastic video. Many people didn't realized that this is the BEST video on PMP EV with the exceptional simple explanation of so many complex PMP figures under 10 mins. Well done!!
SirGranttalot, thank you for this video. I had hard time understanding the EV PV and AC you made it very clear.
You are amazing! I watched this video once and completely understood it! Thank you so much!!
Sir Gantallot, This video is very easy to understand. Earned value is not a monster of seven heads, as the PMP says in my country (Brazil). Thanks for help me in my PMP Exam.
Your videos helped me pass my PMP exam. Thank you!
Thank you, SirGanttalot for great vids. I just passed CAPM today and I wanted to stop by and say Happy holidays.... Thanks for posting these.
If only you wrote the PMBOK, I might have understood it the first time through. Thanks for this!
I am eternally grateful!
That's great news. Congratulations! Thanks for the feedback.
Thanks for the kind words! Good luck with your studies!
SirGanttalot i have seen all your viedoes and they the best posts on youtube in project management. All these viedos gives detail info how project mgt is practically used. One thing I can definatelly say is you have lot of experence with microsoft project. Thanks for the posts & expect to see more in near future
Thanks for the kind words. The graph is a PPT slide with animation. The various items "appear" as "entrance" effects. I used the draw tool to make the curved lines. In live classes I most often draw this out on a whiteboard, but occasionally there isn't a whiteboard available so the slides are a useful backup.
I can't believe it can be this good
Thanks for taking the time to give this feedback, and congratulations on your graduation. I'm pleased the video was helpful to you and potentially to your Mom too! All the best.
Wonderfully explained. Thank you
Thanks very much, you did the great job.
Congratulations for you fabulous video!
I have just graduated in Civil Engineering and now i am working with project management. Unfortunately during graduation i had not any deep discipline in PM and know i get to learn everything alone!. With you video even my MOM could learn alone! Hi Hi Hi
Once more, congratulations on your job!
Best Wishes from Brazil!
Loved the video!
Thank you!!!! you are a star :)
Thanks for asking. The PV of the ENTIRE project is the same as BAC. PV means the Budgeted Cost of Work Scheduled. So the PV/BCWS of ALL the work in the project is the Budget at Completion. For anthing less than the full project, the PV for that section is going to be less than the full project budget, specifically it is the Budegeted Cost of the Work Scheduled to be completed during that specific section of the project. Hope this helps.
toooooooooooooooooooo gooood!!! waiting for more :)
superb explanation👍
Keep doing great work
Very useful and descriptive, thanks 🙏
thank you for these videos
thank u sir,well explained
very good. Thank you.
Well done for passing the CAPM. It's a tough exam. Thanks for the feedback and Happy Holidays to you too.
Thanks a lot!
thank u very much u r FANTASTIC
thank you very much sir
kindly add a link where we can donate or pay you for sharing this knowledge.
good vid!
Great tks my friend
OBS is Organizational Breakdown Structure. Think of it as the Org Chart, like the family tree of the organization. It is usually functional role-based, with the boss at the top. The RBS, Resource Breakdown Structure CAN be exactly the same as the OBS. More often it is a breakdown by SKILL, e.g. you would have a box for "Developers", under that boxes for "Database Developers", "Application Developers", etc. Separately, RBS can be Risk Breakdown Structure, showing risk categories.
Thanks for the feedback and for your kind comments. I am glad to hear that you find the videos helpful. I always welcome suggestions for additional video topics, by the way. Next up will most likely be a video on confidence levels (the Sigma values) for duration and cost estimates.
Sorry, just saw this question. Task C is 20% complete. As of that point in time, 20% of a $200 task IS completed (i.e. 20% of the whole task, not 20% of half of the task, which would be 10%). Earned Value is BCWP. The amount of work performed is 20%. The Budgeted Cost of 20% of a $200 total is $40. Hope this helps.
Tanks!
short and useful :)
Sir Ganttalot Do you have more videos regarding other knowledge areas, i mean the whole a brief lecture on all areas or is there any other way to learn from you ?
I lOVE the S Curve graph and it would be very useful in some of my PPT presentations. How'd you create that?
@SirGanttalot WOW your superb i got it !!
how about OBS vs RBS ?
Hello, and thanks for the question. I have not created any additional videos so far. We do hope to be offering on-line and classroom training courses very soon. Getting comments such as yours always encourages us to get moving! Feel free to email me or message me and we can discuss your specific needs. This week I published the book "Project Risk Management -a Rapid Rollout Methodology". You can find that on Lulu.com Anyway, feel free to get in touch and thanks again for the comment.
Good evening Sir Gantallot ! It seems that I am going OK with my preparations of PMP but I want to feel more confident with the PMP questions. According to your advice where in the innet I can find the test questions most likely with the real exam ? thanks a lot ....
It seems to be working OK. Are you able to see the other videos I posted? Maybe there was a TH-cam outage.
can we calculate all this value by Effort only.... mean in my problem there is effort given and I have to calculate all this value ?
What is the difference between planned value (PV) and budget at completion (BAC) ?
PL
AC
EV
EAC
VAC
ETC
How did you find EV?
I'm getting an error message followed by "please try again later." Is this video still available?
hey
should the EV not be 150
100% of A = 50
80% of B = 80
remember that by the end of tuesday only 50% of C should be complete so that then means we're only working with 100.
20% of C = 20
EV = 150 ???
Vanessa Jacobs I got thrown off too. But remember he said after a progress report it was discovered the work numbers weren't as expected so C (200) wasn't 50% completed after all but only 20% completed which 20% of 200 is 40. So 130 + 40 = 170
Good vid but you really need to turn your mic up
went to lulu to find information on risk management, a shame you need to pay £16, being a student this is not ideal, pity, was finding it useful