EVM Indices
Folios can be configured to use Earned Value Management (EVM) to provide a health status of the project through calculated performance indices. EVM indices are calculated from the folio's available financial data (planned and actual costs or revenues) as well as progress on Jira issues and work logs. The following table lists the EVM indices calculated by Tempo Budgets and the basic values that are used in those calculations.
EVM basic values and indices
Basic values | Definition | Description | |
---|---|---|---|
PV | Planned Value | Planned Value at a given point in time. Note that Planned Value (PV) must not be confused with Planned Cost to date (or Planned Revenue to date) as shown in the Financials sections of the folio's overview. Planned Value is a value obtained by distributing the Total planned costs linearly over the Folio time frame. For that reason, PV indicates the progress in the project's schedule (i.e. how many working days elapsed over the total number of working days in the folio's time-frame). | |
AC | Actual Cost | Known cost of work performed at a given point in time. | |
EV | Earned Value | Measure of work performed at a given point in time. | |
BAC | Budget At Completion | Total Budget estimated. | |
TPV | Total Planned Value | Same as Budget at completion (BAC). | |
Indices (Performance) | |||
CPI | Cost Performance Index | Determines how efficiently the staff members are using the resources. EV / AC
| |
SPI | Schedule Performance Index | Determines how efficiently the project staff members are using their time. EV / PV
| |
TCPI | To-Complete Performance Index | Determines the efficiency that must be achieved on the remaining work for a project to meet the Budget at Completion (BAC - EV) / (BAC - AC) | |
Indices (Variance) | |||
CV | Cost Variance | Determines if the project is over or under budget. EV - AC
| |
SV | Schedule Variance | Determines if the project is ahead or behind budget EV - PV
SV% = SV / PB
| |
VAC | Variance At Completion | Determines whether the project will finish under or over budget. BAC - EAC
VAC% = VAC / PB
| |
Indices (Forecast) | |||
ETC | Estimate To Complete | Estimated cost of the project at the end of the project ETC = (BAC - EV) / CPI | |
EAC | Estimate At Completion | Estimated cost to complete the project EAC = BAC / CPI | |
EAC_{t} | Time Estimate At Completion | Rough estimate in working days of when the project will be completed. (BAC / SPI) / (BAC / total planned time) |