Open Workbench factors in baseline information in many calculations that are performed in the earned value analysis.
Earned Value Analysis (EVA) is a statistical operation that compares the project's present actuals against what was planned. For example, it may compare the length of time a task would take, according to a baseline budget plan, with the actual length of time it took. EVA is also called Performance Measurement.
Open Workbench includes fields containing the fundamental calculations that are used for earned value analysis. These fields are available as discrete items for reporting purposes and you can add them to any view. These fields are used primarily as variables by other calculated fields to produce variance values.
Earned value calculates the following values for every scheduled activity:
The budgeted amount to be spent on the project in a given period.
The total direct and indirect cost that is incurred in performing work during a given period.
The percentage of the total budget equal to the percentage of the actual work performed.
These values are used together to determine if work is being performed as planned. The most frequently employed measures are:
Use the EVA fields to track work performance to account for cost and schedule variances. For example, Open Workbench computes BCWS using the following formula:
BCWS = (cumulative baseline usage from the start date through the Project as-of date) x (the resource billing rate)
Note: You must baseline your project to attain date or EAC variances.
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