Benefits
- Objectively measure project performance using an integrated schedule and financial data based on the project Gantt/WBS (work breakdown structure)
- Full roll-up of EVM to Portfolio level
- Visualize the pattern of performance in order to identify the future state to take corrective action
- Internationally recognized PMI performance metrics
Choosing Cora EVM
Using Cora EVM adds value to the project, the project team, and their sponsors, providing calculated prediction of time and cost success on projects. It also simplifies progress reporting and helps predict future project time and cost estimates that share similar characteristics.
Combining this module with other Cora functionality ensures you’ll have a common platform to build predictions that are fact-based, validated by the whole team, and governed by a set of defined rules, which culminate in a single source of truth. It’s a powerful tool to have at your disposal.
Types of Effort and EV Technologies
The Cora EVM module supports all effort types – discrete, apportioned, and level of effort.
Within discrete effort, Cora supports the following techniques:
- 0–100
- 50–50
- XX–YY (A custom version of 50–50)
- Incremental milestone
- Percent complete
- Units complete
A default EV technique can be set for a project and used on all tasks in that project or a project manager can select the most suitable EV technique for each task.
EAC Calculations
The Cora EVM module provides support for the four EAC calculation methods. A default can be set for use on all projects or a project manager can select the calculation method that is most appropriate for a point in time on the project.
For Project Managers
Project managers need to know how their project portfolios are performing at all times. With increasing complexity in project delivery as the norm, a standard approach to measuring project performance with globally recognized key performance indicators (KPIs) is vital if potential bottlenecks are to be pre-empted.
The Cora Earned Value Management (EVM) module displays earned value performance information graphically by combining project time, cost, and completion metrics straight from an intuitive graphical representation of project performance. There is a detailed data grid to support the visual representation.
Displayed via intelligent dashboards, the project team can quickly visualize how their projects are performing against their performance measurement baselines (PMBs).
For Project Sponsors
Project managers with responsibility for complex investments should have a clear framework, a set of governance instructions, and an adaptive toolset to deliver their projects. Cora EVM can be used as a platform to deliver on these investments.
There is also the ability to track actions; dependencies; responsibilities, and changes on project registers. The module can highlight schedule variance (SV) and cost variances (CVs).
Project teams can easily review the performance of projects using internationally recognized EVM calculations, e.g. schedule and cost performance indices (CPI & SPI); planned value (PV) costs; budget at completion (BAC) costs; and estimate to complete (ETC) costs.
The Cora EVM includes a scenario builder to build what-if scenarios based on predictive performance factors to identify the impacts on completion cost and duration estimates.
Reports
Cora EVM is designed to support IPMDAR data feeds/reporting requirements.
| Metric Short Name | Metric Full Name |
|---|---|
| AC (ACWP) | Actual Cost or Actual Cost Work Performed |
| ACWP (AC) | Actual Cost Work Performed or Actual Cost |
| BAC | Budget at Complete |
| BAC % Complete | Budget at Complete as % of Complete |
| BAC % Spent | Budget at Complete as % of Spend |
| BCWP (EV) | Budgeted Cost of Work Performed or Earned Value |
| BCWR | Budgeted Cost of Work Remaining |
| BCWS (PV) | Budgeted Cost of Work Scheduled or Planned Value |
| CPI | Cost Performance Index |
| CV | Cost Variance |
| CV% | Cost Variance % |
| Metric Short Name | Metric Full Name |
|---|---|
| EAC | Estimate at Completion |
| EAC % Complete | Estimate at Complete as % of Completion |
| EAC % Spent | Estimate at Complete as % of Spend |
| ETC | Estimate to Complete |
| EV(BCWP) | Earned Value or Budgeted Cost of Work Performed |
| PV(BCWS) | Planned Value or Budgeted Cost of Work Scheduled |
| SPI | Scheduled Performance Index |
| SV | Schedule Variance |
| SV% | Schedule Variance % |
| TCPI BAC | To Complete Performance Index BAC |
| TCPI EAC | To Complete Performance Index EAC |
| VAC | Variance at Complete |
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