Odoo experience 2015 earned value management
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The document presents an overview of Earned Value Management (EVM) as a tool for project management, highlighting its importance in tracking project performance using key metrics such as planned value, earned value, and actual cost. It explains how EVM helps determine project schedule adherence, resource efficiency, and budget status, while also providing guidance on establishing performance measurement baselines and analyzing project performance. The document emphasizes the role of identifying patterns and trends in project data to predict future performance and address potential issues.
Odoo experience 2015 earned value management
- 1. 1 Odoo Experience 2015 Project Management with the lights on: Earned Value Management using Odoo Jordi Ballester Alomar (Eficent)
- 2. Project management about Deming’s Cycle Earned Value Management 2
- 3. 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 3
- 4. 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? Earned Value Management 4
- 5. 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 Earned Value Management 5 … or go back to the usual divination techniques.
- 6. 6 Work Plan
- 10. 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 Earned Value Management 10 Budget at Completion Planned Value
- 12. 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. Earned Value Management 12 Planned Value Earned Value
- 13. 13 Actual Cost 3
- 14. Actual Cost is an indication of the level of resources that have been expended to achieve the actual work performed to date. Earned Value Management 14 Planned Value Earned Value Actual Cost
- 16. 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. Earned Value Management 16
- 17. Mapping the % complete to project stages allows to implement fixed formula or percent complete. Earned Value Management 17
- 20. 20 Schedule 1
- 21. Schedule Variance determines whether the Project is ahead or behind schedule. Earned Value Management 21 Schedule Variance Time now Time behind SV = EV - PV
- 22. Earned Value Management 22 Schedule Variance (Are we ahead or behind schedule?) SV = EV - PV
- 23. Schedule Performance Index (How efficiently are we using time?) Earned Value Management 23 SPI = EV / PV
- 24. 24 Cost 2
- 25. Cost Variance (Are we under or over our budget?) Earned Value Management 25 Time now Cost Variance CV = EV - AC
- 26. Cost Variance (CV) Earned Value Management 26 CV = EV - AC
- 27. Cost Performance Index (How efficiently are we using our resources?) Earned Value Management 27 CPI = EV / AC
- 28. To-Complete Performance Index (How efficiently must we use our remaining resources?) Earned Value Management 28 TCPI = (BAC - EV) / (BAC - AC)
- 29. Estimate at Completion (What is the project likely to cost?) Earned Value Management 29 EAC = BAC / CPI
- 30. Variance at Completion (Will we be under or over budget?) Earned Value Management 30 VAC = BAC - EAC
- 31. Estimate to Complete (What will the remaining work cost?) Earned Value Management 31 ETC = (BAC - EV) / CPI
- 32. 32 Guidance for use of key EVM Practices
- 34. ● 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 Earned Value Management 34
- 36. ● 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 Earned Value Management 36
- 37. Find the module: project_earned_value_task in: https://github.com/Eficent/project- earned-value Thanks to 37 Jordi Ballester Alomar Email: jordi.ballester@eficent.com Twitter: @jbeficent_erp Website: www.eficent.com