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Contact KeyLogic Facebook Twitter Linkedin You Tube. An indicator of meeting deadlines compares the earned value to the planned one. The formula for its calculation:.
click If an indicator of meeting deadlines is less than one, it indicates the delay in execution of work. An indicator of implementation of cost shows the effectiveness of the financial costs of the project at the moment. Obviously, if an indicator of implementation of cost is less then 1, it indicates the cost overruns on the project. To assess the situation with the project at a particular time we need three factors: the cost of work scheduled to perform at this time, earned value and the funds actually spent at this point.
Finally, to show the status of the project on the indicative level and get the opportunity to conduct a comparative analysis with other projects or alternative scenarios we need to use these three indicators to calculate two relative indicators — an indicator of meeting deadlines and an indicator of implementation of cost. As you can see, there is nothing complicated here, and all the three indicators allow us to say much about the state of the project.
However, despite its visibility, it is still static indicators reflecting the situation at one point in the timeline of the project. If the planned volume i. This curve is also called S-curve.
As the project progresses and the main volumes are gradually completed, the growth rate of S-curve falls. As a result, S-curve comes to a total planned maximum, reflecting the planned total cost of the project.
Leonardo da Vinci and other Renaissance thinkers designed the parachute , but it would be centuries before the internal combustion engine and the Wright brothers would lead the way to make it a practical and life-saving not to mention military contraption. Because customers add to assets by buying the product--if it's a product for sale--or employees place fewer demands liabilities on the business because operating efficiency is better if the deliverable improves internal operations. It is also the most underused key concept by Project Managers. For example, integration of custom software. The increasing capability to digitize the physical world presents enormous dollar opportunities. First, let me say that, as a teacher, it has always been my belief that every exercise, quiz and test should teach as well as evaluate.
However, as it is known in real life there are always some variations. Consider them.
As can be seen from the graph, the curves of planned and earned values and actual costs clearly reflect the status of the project at the reporting date in terms of underdevelopment of the budget and overruns of funds. What do we see? Note that the already familiar indicators of deviation from schedule and cost variances are also visible on this chart:. Dmitry Soldatov of…. There are 2 ways to do something: motivate yourself or cultivate discipline. What is the difference between them? Skip to content. Business Issues.
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