Microsoft Project is a great tool to track project performance using Earned Value, but you must adapt it a little bit to have more knowledge inserted. Therefore, the following section will describe modifications made to the Microsoft Project Template and the rationale behind each one.
These are the fields that were customized in the template:
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1. AC (EVM) is simply ACWP. For Summary Tasks, we do a rollup-sum:
2. PV (EVM) is BCWS:
3. EV (EVM) is [Baseline Cost]*[Physical % Complete]/100 (You can use BCWP if you are careful enough to change Tools->Options->Calculation->Earned Value->Default Task Earned Value Method to Physical % Complete and then create all your project tasks, or for each task change the Earned Value method to Physical % Complete). For summary tasks, we do a rollup-sum:
Next week we will continue with this subject.
Regards,
J
