Earned Value Management Features and Functions
Earned value management (EVM) allows users to compare a snapshot of actual project spending and progress with planned spending and progress, allowing the earned value to be easily monitored. This capability is critical for project managers in regulated environments.
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- Real time access to EVM data
- Ability for team members to create EVM reports
- Creation of roll-up task and job completion estimates
- Comparison of actual versus planned progress
- Generation of subjective percent complete reports
- Tracking of level of effort
- Tracking of weighted milestones
- Tracking of percent complete
- Tracking of units complete
- Tracking of percent complete by resource
- EVMS compliance
- Tracking of performance against schedule with MS Project integration
- Verifiable audit trails for data entry and approval
- Automatic warnings when tasks or jobs go over budget or fall behind schedule
- WBS that can be compared to tasks with regard to cost, expenses, and schedules
- Tracking of milestones to constitute a time phased budget baseline with a budget for authorized work
- Analysis of planned budgets to the amount of budget earned for schedule variance calculation
- Reporting of cost and labor distribution values at any point in the project plan
- Variance analysis that compares the cost of project tasks against the baseline developed for the project
- Calculation of various critical ratios of budgets versus costs at designated points in the project
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Portfolio and Project Management Features and Functions
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