Earned Value Techniques
Earned value techniques identify the method used to measure work progress or completed work for a work package. They are assigned to work packages in the ProjStream software tools. As an option, an earned value technique may be assigned to a work package during the proposal phase. The earned value technique is used during the execution phase of a project to calculate earned value data in MaxTeam or EVMax for the current reporting period.
The ProjStream software tools support the following earned value techniques (EVTs). When sharing data with Microsoft Project (MSP) or Oracle Primavera P6, create a task or activity user defined field to map the schedule tool earned value technique to the applicable work package earned value technique in the ProjStream software tools. Enter the applicable import code in the schedule tool user defined field.
| Import Code | Work Package Earned Value Techniques |
|---|---|
| QTY | Quantities. This earned value technique is used for work packages assigned the material assumption type where project bills of material (BOMs) have been defined in the ProjStream software tools. |
| 0-100 | 0-100 |
| 50-50 | 50-50 |
| % C | % Complete |
| EAS | Earned as Spent (Earned = (ACWP / EAC) * BAC). |
| ER | Earning Rules (milestones). The accomplishment milestones along with the weight, a percentage, for each milestone must be defined. The sum of the milestone weights equals 100 percent. When a milestone is completed, the weight is translated to a cumulative to date percent complete for the work package. This is the basis for calculating earned value for the current reporting period. You can establish a Milestone Library to select a predefined set of milestones or you can define a unique set of milestones for the work package. See Select Milestones from Library or Define Earning Rule Milestones. |
| LOE | Level of Effort |
| PP | Planning Package. This is not an earned value technique. It is a way to identify future work effort (scope, schedule, and budget) that needs to be broken down into more detail before work begins. A control account planning package is converted to a work package before work begins and the appropriate earned value technique is assigned to the work package. Summary level planning packages (SLPPs) are at a higher level in the work breakdown structure (WBS) than a control account level planning package. A summary level planning package is broken down into one or more control accounts and subordinate work packages or planning packages before work begins. |
| UD | User Defined. A user defined variation of the 50-50 earned value technique. |
See the Earned Value topic for more information about how to status work packages assigned the different earned value techniques.