EVM360 – Earned Value Management Software

Earned Value Management Software
True earned value management (EVM) creates real-time decision making and risk mitigation by combining scope, cost, and schedule to provide key trends and insight. Without the timely inclusion of performance activity data to calculate productivity and cost, the actual status of a project is unknown.Integrate the systems of record to receive daily exception alerts and daily earned value calculations.

Give project stakeholders a daily, 360-degree view of earned value by combining mobile timekeeping, project intelligence reporting, and HD project cost management.


We challenge owners, EPCMs, and contractors to answer 3 key earned value questions:

  • How long does it take you to gather earned value information?
  • How dated or accurate is your earned value data without integrated systems (estimate, schedule, project performance, and ERP)?
  • Can you afford to wait for the these key metrics when a real-time solution exists?

Knowing the True Health of Your Project

There are many questions that organizations should have answers to regarding their projects’ status. Knowing where a project stands compared to budget and actual performance is the key to success. Here are a few of the top cost and productivity measurement questions every organization should be able to answer instantly on every project.


Budgeted Cost of Work Scheduled (BCWS)

  • How is the BCWS, including detailed activities, maintained?
  • Is it updated with change orders to reflect the current control budget?
  • Is there a simple process to provide access to everyone in the organization who needs visibility to planned work?

Actual Cost of Work Performed (ACWP)

  • To date, what is the ACWP on each project?
  • Is the detail of the actual cost enough to understand individual activity performance, or is the information summarized at a higher level (account code/GL), making it difficult to understand the root cause of variances?

Budgeted Cost of Work Performed (BCWP)

  • What is the BCWP to date, compared to the ACWP?
  • Is that information visible to everyone involved in the project?

Project Reconciliation

  • What is the current status (cost to date) of the work performed in the field vs. the current recorded cost by the ERP system?
  • Is completed field work calculated to accrue true project cost to date in the ERP system?
  • Are actual cost (invoice) values added to the accrual to calculate projected forecasted cost to complete?
  • Are remaining control budget costs added to actual and accrued cost to establish ongoing forecasts?

Cost Performance Productivity

  • How is project productivity (earned performance) calculated on a timely basis (daily/weekly)?
  • Is it possible to understand performance at the activity level?

The HD Suite Earned Value Management (EVM)

Designed for owners, contractors and government agencies, HD Solutions’ earned value features keep spend levels in sync with work completed while providing accurate forecasts to completion.

Eliminate inaccurate assumptions of completed work, and out-of-sync budgets against actual completion.

HD Solutions’ earned value progress measurement meets all DOD, DOE, and Corporation of Engineering requirements, while meeting the demands of private owners in the power and plant process areas, and contractors for internal and external management.


Requirement

Purpose

EVM Value

Current Estimate/Budget Defines the expected cost of the project. Budgeted cost of work scheduled (BCWS)
Schedule Defines the expected timing of the project. Budgeted cost of work scheduled (BCWS)
Actual Cost Indicates how much cost has been incurred. Actual cost of work performed (ACWP)
Actual Progress Performed Indicates how much work has been performed. Budgeted cost of work performed (BCWP)

Earned Value Management Highlights
(EVMS System)

  • Plan all work scope for the program from inception to completion.
  • Break down scope into finite pieces that can be assigned to people and organizations.
  • Integrate program work scope, schedule, and cost objectives into a performance measurement baseline plan against which accomplishments may be measured. Control changes to the baseline.
  • Use actual costs incurred and recorded in accomplishing the work performed.
  • Objectively assess accomplishments at the work performance level.
  • Analyze significant variances from the plan, forecast impacts, and prepare an estimate at completion based on performance to date and work to be performed.
  • Utilize earned value information in the management processes.

Comply with Federal EVM Reporting

Federal Acquisition Regulations require agencies to include earned value management (EVM) in their projects, take a proactive approach to identifying high-risk projects, and to show how these projects are performing with regard to the approved cost, schedule, and performance goals.

These federal requirements define the government agency contract thresholds above which a contractor working with the federal government is required to institute an approved earned value management system to measure and report the results of a project objectively as it progresses.


Federal Agency

Contract Threshold

Notes

DoD Less Than $20 Million EVM optional and is a risk based decision. Source.
DoD $20 Million + EVM required (in compliance with ANSI/EIA-748). Source.
DoD $50 Million + EVM required (in compliance with ANSI/EIA-748) and certified by the cognizant federal agency. Source.
DoE $20 Million – $50 Million EVM required (in compliance with ANSI/EIA-748) and self certification by the contractor. Source.
DoE Greater than $50 Million EVM required (in compliance with ANSI/EIA-748) and certification by OECM (Office of Engineering and Construction Management). Source.
NASA Less than $20 Million Quantify progress using earned value management procedures. Source.
NASA $20 Million – $50 Million EVM required (in compliance with ANSI/EIA-748). Source.
NASA Greater than $50 Million EVM required (in compliance with ANSI/EIA-748) and shall further demonstrate ESMD (Exploration Systems Mission Doctorate) that the system complies with the guidelines of EIA-748-a (validation). Source.
GSA Less than $20 Million EVM required (in compliance with ANSI/EIA-748) based on program manager determination. Source.
GSA $20 Million + EVM required (in compliance with ANSI/EIA-748) and validated. Source.
FAA $5 Million + EVM following optional policy guidelines (if required, will be in compliance with ANSI/EIA-748). Source.
FAA $10 Million + EVM required (in compliance with ANSI/EIA-748). Source.

 

Request a Demo