odoo experience 2015 earned value management
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Odoo Experience 2015
Project Management with the lights on: Earned Value Management using Odoo
Jordi Ballester Alomar (Eficent)
Project management about Deming’s Cycle
Earned Value Management
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Identifying patterns and trends…
….is something humans are quite good at.
And patterns and trends in the past can be good predictors of the future.
Earned Value Management
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Earned Value Management (EVM) attempts to answer to the following questions:
...are we ahead or behind schedule?
...how efficiently are we using our time?
...when is the project likely to be completed?
...are we currently over or under our budget?
...how efficiently are we using our resources?
...what is the remaining work likely to cost?
...what is the entire project likely to cost?
...how much will we be under or over budget at the end?
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Patterns and trends will help to identify:● Where problems are occurring● Whether problems are critical or not● What will it take to get the project back on track
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… or go back to the usual divination techniques.
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Work Plan
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Basic Elements
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Planned Value1
Planned Value describes how far along project work is supposed to be at any given point in the project schedule.
Constitutes the Performance Measurement Baseline
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Budget at Completion
Planned Value
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Earned Value2
Earned Value is a snapshot of the work progress at a given point of time. Reflects the amount of work that has actually been accomplished to date, expressed as the planned value for that work.
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Planned Value
Earned Value
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Actual Cost3
Actual Cost is an indication of the level of resources that have been expended to achieve the actual work performed to date.
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Planned Value
Earned Value
Actual Cost
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Performance Measurement
Work performance is measured periodically, such as weekly or monthly.
Discrete efforts that span one to two periods are often measured with fixed formula techniques (0-100, 50-50,..)
Discrete efforts of longer duration (greater than two periods) are measured with other techniques, including those known as weighted milestone and percent complete.
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Mapping the % complete to project stages allows to implement fixed formula or percent complete.
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Performance Analysis and Forecasting
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Schedule1
Schedule Variance determines whether the Project is ahead or behind schedule.
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Schedule Variance
Time now
Time behind
SV = EV - PV
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Schedule Variance (Are we ahead or behind schedule?)
SV = EV - PV
Schedule Performance Index (How efficiently are we using time?)
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SPI = EV / PV
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Cost2
Cost Variance (Are we under or over our budget?)
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Time now
CostVariance
CV = EV - AC
Cost Variance (CV)
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CV = EV - AC
Cost Performance Index (How efficiently are we using our resources?)
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CPI = EV / AC
To-Complete Performance Index (How efficiently must we use our remaining resources?)
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TCPI = (BAC - EV) / (BAC - AC)
Estimate at Completion (What is the project likely to cost?)
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EAC = BAC / CPI
Variance at Completion (Will we be under or over budget?)
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VAC = BAC - EAC
Estimate to Complete (What will the remaining work cost?)
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ETC = (BAC - EV) / CPI
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Guidance for use of key EVM Practices
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Establish a Performance Measurement
Baseline1
● Decompose the work to a manageable level
● Assign unambiguous management responsibility
● Develop time-phased budget for each work task
● Select the appropriate Earned Value Measurement Technique
● Maintain Integrity of Performance Measurement Baseline
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Measure and analyze
performance against the
Baseline2
● Record resource usage during project execution
● Objectively Measure the Physical Work Progress
● Credit Earned Value according to Earned Value Techniques
● Analyze and Forecast cost/schedule performance
● Report performance problems and/or take action
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Find the module: project_earned_value_task in: https://github.com/Eficent/project-earned-value
Thanks to37
Jordi Ballester AlomarEmail: [email protected]: @jbeficent_erpWebsite: www.eficent.com