Projectmates EV module provides you with a financial tool to calculate cost against schedule. You can link Budget items to Schedule tasks or enter dates manually to monitor your project progress.

To access the Earned Value Analysis module:

1.   Click either the Contract Mgmt or the GC Prime Contract buttons under the Cost Tracking tab.

2.   Click the Budget thread in the left-side menu to extend the links below.

3.   Click Earned Value Analysis link under the Budget thread in the left-side menu.

The Schedule Dates tab shows the Start and Finish Dates, Actual % Complete, and Planned Duration for each line item.

·         Anticipated Cost (S): Total Anticipated Costs. Contracts, Change Orders, and Purchase Orders

·         Start Date (BA): Task Start Date can be entered manually or sent from the Schedule

·         Finish Date (BB): Task End Date can be entered manually or sent from the Schedule

·         Actual % Complete (BC): This can be entered manually or sent from the Schedule

·         Planned Duration At Completion (BD): Number of Work Days from Start Date through Finish Date

The EV by Schedule tab shows the Actual % Complete, Planned % Complete, Earned Value, Planned Value, Schedule Variance, Schedule Variance (SV) %, and Schedule Performance Index (SPI). It shows whether the work item is ahead or behind schedule.

·         Actual % Complete (BC): Based on Entered Values or Schedule

·         Planned % Complete (BE): Based on Start and End Dates

·         Earned Value (BF): Actual % Complete times Anticipated Costs

·         Planned Value (BG): Planned % Complete times Anticipated Costs

·         Schedule Variances (SV) (BH): Earned Value minus Planned Value

·         SV% (BI): Schedule Variance % is the Schedule Variance divided by Planned Value in %

·         SPI (BJ): Schedule Performance Index: Earned Value divided by Planned Value

The EV by Invoice tab shows the Subcontract Invoice amount, Earned Value, Cost Variance, Cost Variance (CV) %, Cost Performance Index (CPI), % Planned To Date, % Complete To Date, and % Spent To Date. It indicates whether a line item is over or under the Anticipated Cost.

·         Subcontract Invoice (Actuals) (S): Total Invoices

·         Earned Value (BF): Actual % Complete times Anticipated Cost

·         Cost Variance (CV) (BK): Earned Value minus Total Invoices

·         CV% (BL): Cost Variance divided by Planned Value

·         CPI (BM): Cost Performance Index is the Earned Value divided by Total Invoices

·         % Planned To Date (BN): Planned Value divided by Anticipated Cost

·         % Complete To Date (BO): Earned Value divided by Anticipated Cost

·         % Spent To Date (BP): Total Invoices divided by Anticipated Cost

The EV Forecast tab shows the Total Budget, Anticipated Cost, Estimate At Completion, Estimate To Complete, Estimated Duration at Completion, Estimated Completion Date, To Complete Performance Index, and Variation at Completion.

Projectmates calculates estimates based on Budget and Schedule information to predict the total cost of your project if progress maintains the current rate. The estimates indicate the anticipated amount of money and number of days that will be needed to complete the work item. The value in the To Complete Performance Index field is the ratio of work remaining to the money remaining, which represents the level of efficiency which the contractor must maintain from the current date to the end of the contract in order to complete the project within the budget and baseline schedule.

·         EST At Completion (BQ): Estimated total cost of project at completion

·         Est To Complete (BR): Estimate At Completion – Anticipated BCWS

·         Est Duration At Completion (BS): Planned Duration At Completion times Schedule Performance Index

·         Est Completion Date (BT): Start Date + Estimated Duration At Completion

·         To Complete Performance Index (BU): (Anticipated BCWS – Earned Value) / (Anticipated BCWS – Subcontract Invoice)

·         Variance at Completion (BV): Anticipated BCWS minus Estimate at Completion

To access help specifically with Earned Value Analysis, click the  Quick Tips icon at the top right corner of the work space frame.

The Earned Value Analysis Columns Definitions pop-up displays.

The columns are listed in the order in which they appear in Projectmates.

To search for a particular column, find the column label similar to column labels in MS Excel.

Note: The Quick Tips list the columns in Earned Value Analysis Log page and explains the formula used in their calculations.

EV Analysis needs five values for measurable results: Start Date, Finish Date, Actual % Complete, Anticipated Cost and Invoices.

The Anticipated Cost and Invoice amounts are sent from Budget.

To add the line item start and finish dates:

1.   Click the line item link to display the sub-items that need start and finish dates.

The sub-items under the parent line item will display.

2.   Click the  Edit link for the sub-item.

The Edit Budget Sub-item pop-up will display.

3.   Enter the Start and Finish Dates and Actual % Complete values as necessary.

4.   Click the Save button.

To add the same start and finish dates to multiple items:

1.   Mark the check boxes for the items.

2.   Click the Update Start and Finish Dates link.

3.   Enter the Start and Finish Dates.

4.   Click the Update button.

Schedule tasks can be linked to Budget sub-items in a project allowing start and finish dates as well as Actual % Complete values for line items to be automatically updated directly from Schedule. Multiple schedule tasks can be linked to a single sub-item.

To link Schedule tasks to a Budget sub-item:

1.   Go to the Schedule module and thread from which you want to link tasks to the budget.

2.   Mark the check boxes of one or more Schedule task items to be linked to a single sub-item in the Budget.

3.   In the Actions drop-down, select the  Link to Budget option.

The Link/Unlink Selected Tasks to Budget pop-up screen displays.

4.   Mark the radial button to Create Budget Link.

5.   Use the drop-down list to Select Budget Thread.

6.   Use the next drop-down list to Select Budget Line Item.

7.   Use the third drop-down list to Select Budget Sub-Item.

8.   Click the Ok button.

If you go back to the Earned Value Analysis log page, you will notice the  Schedule Link icon is now displayed next to the sub-item.