ANSI/EIA 748 Compliance - EVPM Software

What is Earned Value Project Management?

Earned Value Project Management (EVPM) has two objectives:

1. To improve project and organizational efficiencies
2. To provide consistent, accurate information on project status

Earned Value Project Management combines scheduling, resource allocation, costs and requirements to enforce efficient internal cost and scheduling protocols for projects, and to provide project managers and executives an effective system to for tracking and forecasting project development and costs according to the ANSI/EIA 748 compliance standard for earned value management systems. ANSI/EIA 748 provides guidelines for organization, planning, scheduling, budgeting, accounting, analysis and data maintenance.

EVPM compares the planned amount of work against what has actually been completed to determine if cost, schedule and work accomplished are progressing as planned. Work is "earned" or credited as it is completed.

This is accomplished by breaking down project work into budgeted and scheduled time-phased "planned value" segments, which combine to form the project baseline. Typically this is accomplished through establishing a Work Breakdown Structure (WBS) for the project. By establishing this structure, earned value analysis metrics such as Cost Variance and Project Schedule Indexes can be determined.

Earned Value Project Management Benefits

Successful incorporation of the Earned Value Project Management philosophy yields:

• Lowered costs through improved efficiencies
• Provides an early warning system. EVPM highlights projects that are off-track in time for corrective action to be taken
• Increased productivity
• Accelerated time to market
• Improved accuracy in project time and budget tracking
• Groundwork for effective decision-support systems

Earned Value Project Management with Lotus Notes

Tracker Suite's Lotus Notes applications provide the organizational and tracking capabilities required for ANSI/EIA 748 earned value project management protocols:

• Project Tracker offers project templates for the WBS templates required for EVPM
• Project status reports with automated reminders ensure that project activity and status are consistently updated
• Web enabled time, expense and purchase simplifies reporting. Automatic approval routing structured in Personnel Tracker ensure legitimate approvals, and because these applications (Time Tracker, Expense Tracker and Purchase Tracker, respectively) integrate with Project Tracker, budgeting accuracy is improved for better reporting
• The Tracker Data Warehouse generates over 42 report templates including budget vs. actual and on-time delivery schedules, reports based on the metrics required for earned value project analysis