EVM – Flashcards
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Earned Value Management (EVM)
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is a tool that allows both Government and contractor Program Managers (PMs) to have visibility into technical, cost, and schedule planning, performance, and progress on their contracts.
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Cost Variance =
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BCWP - ACWP
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Schedule Variance =
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BCWP - BCWS
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Cost Performance Index =
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BCWP/ACWP
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Schedule Performance Index =
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BCWP/BCWS
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Contracts of _______ or more require a formal EVM system validation
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$50M
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Earned Value Management (EVM)
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is an integrated management system; coordinates work scope, schedule, and budget goals, and objectively measures progress towards these goals.
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The Defense Contract Management Agency (DCMA)
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is the only organization recognized by DoD to perform EVMS Validation.
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The Defense Contract Audit Agency (DCAA)
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is responsible for conducting audit reviews of the contractor's accounting system policies, procedures, and activities.
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For contract's awarded prior to July 1, 2012, the Contract Performance Report (CPR)
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is a contractually required report, prepared by the contractor, containing performance information derived from the internal EVMS.
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For contracts awarded after July 1, 2012 the Integrated Program Management Report (IPMR)
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has replaced the Contract Performance Report (CPR) and Integrated Master Schedule (IMS) contractual requirements
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The Defense Contract Audit Agency (DCAA) is
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responsible for conducting audit reviews of the contractor's accounting system policies, procedures, and activities.
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For contract's awarded prior to July 1, 2012,
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the Contract Performance Report (CPR) is a contractually required report, prepared by the contractor, containing performance information derived from the internal EVMS.
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For contracts awarded after July 1, 2012 the Integrated Program Management Report (IPMR)
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has replaced the Contract Performance Report (CPR) and Integrated Master Schedule (IMS) contractual requirements
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Cost Variance (CV) indicates how much
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over or under budget the project is
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Schedule Variance indicates how much
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ahead or behind schedule the project is
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Cost Performance Index (CPI) measures how efficiently
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the contractor is performing the work based on the original planned budget.
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the basic elements of performance measurement
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is the comparison of actual performance against a baseline plan.
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PMB development follows a 3 step process:
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Define the work (WBS) Schedule the work Allocate budgets
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The Performance Measurement Baseline (PMB) is the sum of the time-phased BCWS
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for all work, planning, and summary level packages.
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The PMB is the contractor's time-phased plan for accomplishing the work on the contract.
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It establishes the scope, schedule, and budget targets for the program.
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Control accounts are management points for planning and control since
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they represent the work assigned to one responsible organizational element on one program WBS.
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"Mini-Programs" having
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defined scope, schedule, and budget.
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Understand the difference in the methods to measure performance against the Performance Measurement Baseline
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0-100 Method: Once job is finished, value is earned (short duration) 50/50 Method: Earn 50% when start, earn 50% when completed Value Milestone Method: Assign budgets to milestones and earn as each milestone is reached Completed or Equivalent Unit Method: Count units being fabricated or completed operations that go into a unit Planning Package (Rolling Wave): Lock in budgets prior to beginning work.
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Labor Costs:
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Occur at work package level, recording man-hours on time cards (or equivalent method).
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The Integrated Baseline Review
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Is a formal review conducted jointly between the Government and contractor Assesses the validity of control account budgets, resources, and time phasing Is mandatory for all EVMS contracts Is a process, not an event Ensures work package technical content consistent with contract SOW
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DCMA performs two major types of EVMS surveillance
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System Surveillance Program / Contract Surveillance
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The 32 EVMS guidelines in ANSI/EIA-748
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provide a framework to evaluate the adequacy of a contractor's EVM system.
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Recognize the nine management processes associated with EVM
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Organizing Scheduling Work/Budget Authorization Accounting Indirect Management Managerial Analysis Change Incorporation Materiel Management Sub-contract Management
