What is the Earned Value Analysis?
Earned Value Analysis (short: EVA) is a project controlling tool. It is used to assess the progress of projects. The current schedule and cost situation is described by key figures. The key values are planned value, actual costs and earned value. By tracking the key figures, a trend analysis is possible (from Wikipedia).
Thus Merlin Project provides a model to control project progress and involved costs. These fields are active:
- Target costs of calculated work (SKBA): The degree of completion (also planned value, PV) in euros at the time of the report.
- Target cost of completed work (SKAA): Also known as earned value (EV). This arises during the project work. It is the amount that would have been incurred if the planned resource costs had been assumed. I.e. the EV represents the total value of the trade union corresponding to the work progress / degree of completion.
- Actual cost of completed work (IKAA): The actual costs (AC) are entered using the variable IKAA. All resource costs, material costs and base costs incurred up to a point in time are added together.
- Plan deviation: In a real project, however, absolute plan fulfillment is very rare. Either one overachieves the planned goals or (in most cases) one hangs behind the plan. This results in a deviation from the planned target, which is referred to as a schedule variance (SV). A negative schedule variance (SV) indicates that the schedule for the entire project cannot be met. The SV is therefore not primarily concerned with cost differences, but with delays.
- Cost variance: The cost variance (CV) is measured against the actual costs of the project.
- Total Cost Estimate: This is the budget at complete (BAC). It corresponds to the expenditure planned at the time, i.e. taking into account all assumed resource, material and basic costs.
- Planned costs: Often also referred to as planned costs (PC), they are defined in the work packages at the beginning of the project and distributed over the duration of the project.
*1: Field descriptions according to Wikipedia