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Earned Value Management

Earned Value Management (EVM) is a project management technique used to measure project performance and progress in an objective manner. It integrates project scope, time (schedule), and cost parameters to provide accurate forecasts of project performance issues.

First, load the package:

Then set the BAC, schedule, and current time period for a toy project.

bac <- 100000
schedule <- c(0.1, 0.2, 0.4, 0.7, 1.0)
time_period <- 3

Calculate the PV and print the results:

pv <- pv(bac, schedule, time_period)
cat("Planned Value (PV):", pv, "\n")
#> Planned Value (PV): 40000

Set the actual % complete and calculate the EV:

actual_per_complete <- 0.35
ev <- ev(bac, actual_per_complete)
cat("Earned Value (EV):", ev, "\n")
#> Earned Value (EV): 35000

Set the actual costs and current time period and calculate the AC to date:

actual_costs <- c(9000, 18000, 36000, 70000, 100000)
time_period <- 3
ac <- ac(actual_costs, time_period)
cat("Actual Cost (AC):", ac, "\n")
#> Actual Cost (AC): 36000

Calculate the SV and CV and print the results:

sv <- sv(ev, pv)
cat("Schedule Variance (SV):", sv, "\n")
#> Schedule Variance (SV): -5000

cv <- cv(ev, ac)
cat("Cost Variance (CV):", cv, "\n")
#> Cost Variance (CV): -1000

Calculate the SPI and CPI and print the results:

spi <- spi(ev, pv)
cat("Schedule Performance Index (SPI):", spi, "\n")
#> Schedule Performance Index (SPI): 0.875

cpi <- cpi(ev, ac)
cat("Cost Performance Index (CPI):", cpi, "\n")
#> Cost Performance Index (CPI): 0.9722222

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