Project Earned Value Analysis
Updated: January 19, 2025
Summary
The video delves into the importance of using Network Analysis to control project variances, focusing on concepts like plan value, actual cost, and value at the planning stage. It showcases instances where actual progress differs from planned progress, impacting N value calculation. By analyzing plan values and calculating scheduled variances based on budget spent and progress achieved, viewers can understand how to assess project performance effectively. The speaker demonstrates how to calculate scheduled variances by comparing plan values and earned values for various time periods, aiding in comprehensive project analysis. Cost analysis is also emphasized, highlighting the significance of comparing N value, actual cost, and project schedule variances to gain insights into financial performance.
Introduction to NW Analysis
Discussing NW analysis for controlling project variances and introducing the concepts of plan value, actual cost, and value at the planning stage of a project.
Example of Plan vs. Actual Progress
Illustrating examples where the actual progress differs from the planned progress, leading to differences in the N value calculation.
Analyzing Plan Values
Explaining how to analyze plan values and calculate scheduled variances for activities based on the budget spent and progress achieved.
Calculating Scheduled Variances
Demonstrating how to calculate scheduled variances by comparing plan values and earned values for different time periods in a project analysis.
Cost Analysis
Discussing cost analysis by comparing N value, actual cost, and project schedule variances to understand the project's financial performance.
FAQ
Q: What are the key concepts introduced in NW analysis for controlling project variances?
A: The key concepts introduced in NW analysis for controlling project variances are plan value, actual cost, and value at the planning stage of a project.
Q: Can you explain how differences between actual progress and planned progress affect the calculation of N value?
A: Differences between actual progress and planned progress can affect the calculation of N value by leading to discrepancies in the N value calculation.
Q: How can plan values be analyzed to calculate scheduled variances for project activities?
A: Plan values can be analyzed to calculate scheduled variances for project activities by comparing the budget spent and progress achieved.
Q: What is the process of calculating scheduled variances by comparing plan values and earned values for different time periods?
A: The process of calculating scheduled variances involves comparing plan values and earned values for different time periods to analyze project progress.
Q: How can cost analysis be carried out in NW analysis to understand a project's financial performance?
A: Cost analysis in NW analysis involves comparing N value, actual cost, and project schedule variances to gain insights into the project's financial performance.
Get your own AI Agent Today
Thousands of businesses worldwide are using Chaindesk Generative
AI platform.
Don't get left behind - start building your
own custom AI chatbot now!