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actual cost

Updating the schedule: Setting actual and remaining cost values of activities in progress

Submitted by Mario Vanhoucke on Mon, 04/16/2012 - 16:00

One of the primary tasks during project control is periodically updating the baseline schedule to reflect the actual progress of the work done and to present a realistic forecast of the remaining work. Measuring the progress of a project can be done in various ways. The two most well-known and widely used techniques are:

Earned Value Management: The three key metrics

Submitted by Mario Vanhoucke on Mon, 12/12/2011 - 16:38

Controlling a project is key to the success or failure of the project. Earned Value Management (EVM) is a well-known technique to control the time and cost performance of a project and to predict the final project duration and cost. It is an easy tool to generate early warning signals to timely detect problems or to exploit project opportunities. An overview of the EVM metrics is given in “Earned Value Management: An overview” and the formulas are summarized in “Earned Value Management: The EVM formulary”.

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actual cost

Updating the schedule: Setting actual and remaining cost values of activities in progress

Earned Value Management: The three key metrics