Earned Value - EcoSys - 3.01 - Help - Hexagon PPM

EcoSys Projects Help (3.01)

PPMProduct
EcoSys
PPMCategory_custom
Help
Version_EcoSysStand
3.01

Earned value is used to generate project performance data in EcoSys Projects for a selected project and a specific project period. First, a progress method is established for each object with an assigned cost control level. This method determines whether a percent complete is entered or calculated. Earned value is calculated by applying the percent complete to the current budget or baseline-at-complete (BAC) for the project. The calculation of the final percent complete and other progress metrics is performed in the Generate Earned Value action. This process may be run repeatedly during a period to generate the expected results.

Earned value is generated incrementally. For example, an object has a BAC value of $100, and a percent complete in January of 25%. An earned value line item will be generated in January for $25. In February, the percent complete increases to 50%. The total expected earned value is $50. Since $25 already exists in January, the remaining $25 will be generated in February.

Once earned value data has been generated, the percent complete, earned hours and cost, as well as performance factors may be viewed in reports and dashboards.

A variety of progress methods are available, including:

  • Apportioned Effort - A single Apportionment Source must be identified in the Apportioned Effort screen. The percent complete from this source will be copied to the current Cost Control Level during the Generate Earned Value workflow process. This method will not generate a Preview % Complete.

  • Earn as Actual - Actuals costs including estimated actuals (EV AC) will be divided by the current budget costs (BAC)

  • Earn as Planned - The time-phased Planned Value (PV) portion of the Current Budget through the selected project period is divided by the total Current Budget (BAC). Similar to Level-of-Effort (LOE), this method allows EV to catch up to PV if methods are changed during the life of the Cost Control Level.

    SHARED Tip Earn as Planned progress method only applies to time-phased projects.

  • Fixed Formula 0/100 - Once an Actual End Date is populated in the Actuals screen, the percent complete will be set to 100%

  • Fixed Formula 0/50/100 - Once an Actual Start Date is populated in the Actuals screen, the percent complete will be set to 50%. Once an Actual End Date is populated, this will increase to 100%.

  • Hours % Complete - Similar to Earn as Actual, but utilizing Actual Hours rather than Actual CostActual Hours including estimated actuals (EV AC) will be divided by the current budget hours (BAC).

  • Physical % Complete - The percent complete is either directly entered or imported into EcoSys Projects. The Physical % Complete column is only editable when this method is selected.

  • Progress Package - Based on the ROC % Complete, ROC Weighted % Complete and ROC Preview % Complete data from progress templates, the earned value is generated.

  • Smart Build - EcoSys pulls the % Complete from the Smart Build application through API. Based on this % complete, EcoSys generates the earned value.

  • Weighted Deliverables - A series of deliverables must be established in the Deliverables Register. For each deliverable, a set of deliverables milestones must be established. Progress must be recorded against each milestone. This progress will roll up to its associated deliverable, and in turn the weighted progress of all deliverables will roll up to the cost control level.

  • Weighted Milestones - A series of milestones must be established in the Weighted Milestones screen, either manually or by running an action. Progress is then recorded against each milestone. This progress will roll up to the assigned object based upon the milestone weight.

  • Weighted Quantities -  A series of quantities must be established in the Weighted Quantities screen, either manually or by running an action. Actual quantities must be recorded against each line item. This progress will roll up to the object based upon the line weight.

Progress methods utilizing time-specific data will leverage the selected project period. For example, the Earn as Planned and Earned as Actuals progress methods will only apply data through the selected period, regardless of the presence of data in later periods.