There is a growing trend to use Earned Value Metrics (EVM) to monitor, evaluate and report the project’s schedule performance. The earned schedule (ES) allows EVM metrics to be transformed into time or duration metrics to evaluate project schedule performance and forecast the duration needed to complete the project. Unlike when using resource quantities or cost values to calculate the Earned Value Metrics (EVM), the earned schedule metrics depend on the duration that will be extracted from the project schedule.
Since Project Management Information Systems (PMIS) like PMWeb are used to calculate the Earned Value Metrics (EVM) whether they were based on resources or cost values, the earned schedule metrics will be also calculated, monitored, evaluated, and reported using the same PMIS platform.
PMWeb custom form builder will be used to create a form to capture the metrics and other needed data for the Earned Schedule (ES) analysis. These include Schedule at Completion (SAC) which is the project’s baseline duration, Earned Schedule (ES) which is the elapsed baseline project duration that is associated with the earned physical percent complete, and Actual Time (AT) which is the data date. The form will also include the currently scheduled completion date which is the basis to calculate the Time Estimate at Completion (TEAC).
The form will also include the schedule buffer duration that was allocated for the project’s completion date, several excusable delay days that the contractor is entitled to, and a narrative of the project’s schedule performance for the current updated schedule. In addition, the form will also include the remaining Earned Value Metrics (EVM) metrics which will be automatically calculated in the form when it is saved.
Those remaining calculated Earned Value Metrics (EVM) metrics, as shown in the chart below, include Time Variance (TV) which is the difference between Earned Schedule (ES) and Actual Time (AT), Time Variance Percentage (TV%) which is Time Variance (TV) divided by Schedule at Completion (SAC), Time Performance Index (TPI) which is Earned Schedule (ES) divided by Actual Time (AT), Time Estimate to Complete (TETC) is Time Estimate at Completion (TEAC) minus Actual Time (AT) and Time Variance at Completion (TVAC) which is the difference between Schedule at Completion (SAC) and Time Estimate at Completion (TEAC).
The Earned Schedule attachment tab will be used to upload and attach the updated project schedule as well as attach all supportive documents which are usually uploaded and stored in their designated folder or subfolder in the PMWeb document management repository. In addition, links to relevant PMWeb records like meeting minutes, and daily reports among others as well as links to imported MS Outlook emails can be made to the Earned Schedule form.
A workflow can be assigned to the Earned Schedule form to ensure the formal review of the reported schedule progress metrics. The workflow could also include the option of sharing the Earned Schedule with other project team members.
Those earned schedule metric values whether input or calculated will provide a real-time single version of the truth Earned Schedule Analysis report shown below. The report includes three visuals to report on the time variance, time variance %, and time performance index trends for the elapsed periods. In addition, it includes a visual to show an analysis of the time variance to show how many days are attributed to excusable delay days and how many are attributed to non-excusable delay days. The schedule buffers visually detail the buffer drawdown by adjusting the schedule buffer allowance by the excusable delays. Finally, the report includes a register to summarize the schedule update details at the end of each update period including details and analysis of the schedule performance.
About the Author
Bassam Samman, PMP, PSP, EVP, GPM is a Senior Project Management Consultant with more than 35-year service record providing project management and controls services to over 100 projects with a total value of over US $5 Billion. Those projects included Commercial, Residential, Education, and Healthcare Buildings and Infrastructure, Entertainment and Shopping Malls, Oil and Gas Plants and Refineries, Telecommunication, and Information Technology projects. He is thoroughly experienced in complete project management including project management control systems, computerized project control software, claims analysis/prevention, risk analysis/management (contingency planning), design, supervision, training, and business development.
Bassam is a frequent speaker on topics relating to Project Management, Strategic Project Management, and Project Management Personal Skills. Over the past 35 years, he has lectured at more than 350 events and courses at different locations in the Middle East, North Africa, Europe, and South America. He has written more than 250 articles on project management and project management information systems that were featured in international and regional magazines and newspapers. He is a co-founder of the Project Management Institute- Arabian Gulf Chapter (PMI-AGC) and has served on its board of directors for more than 6 years. He is a certified Project Management Professional (PMP) from the Project Management Institute (PMI), a certified Planning and Scheduling Professional (PSP), an Earned Value Professional (EVP) from the American Association of Cost Engineers (AACE), and a Green Project Management (GPM).
Bassam holds a Master’s in Engineering Administration (Construction Management) with Faculty Commendation, from George Washington University, Washington, D.C., USA, Bachelor in Civil Engineering – from Kuwait University, Kuwait, and has attended many executive management programs at Harvard Business School, Boston, USA, and London Business School, London, UK.