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Overview | Example | Step 1 | Step 2 | Step 3 | Step 4 | Step 5 |
Earned Value Analysis - Example (Hands On)
Step 4 : Set status date
Status Date: Status date may be current date, a date in the past, or a date in the future. Setting the status date to the date you last updated project progress is always the best practice.
In this example, 2/6/2009 is the status date of the project. (Please refer to step 3; we received actual work till 2/6)
Steps:
- On Project menu, choose Project Information
- Select Status Date as 2/6/2009 and click OK
- Save Project Plan
Earned value calculations also based on following settings on MS Project.
- Baseline Number
- EV Calculation Method
To get the accurate EV numbers, you need to specify the EV calculation methos MS Project Plan.
Baseline Number: If you have multiple baselines saved for your project, you have a option to specify which baseline that you want to consider for EV Calculations. In this example, we are using Baseline for caluclations.
EV Calculation Method: Earned value calculations always based on % Complete or Physical % Complete
Steps:
- Under Tools menu, choose Options
- Click on Calculation tab and Click on Earned Value
- Choose Default task Earned Value method and Baseline for Earned Value calculations from dropdown and click OK
- Save Project Plan
Please proceed to Step 5
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