Summer reposts: Project metrics: earned value management with a 6-function calculator
Background on the posts
I wrote these two posts because I got tired of reading how complicated it was to compute project metrics. Project metrics are NOT complicated, it’s simple math! So I thought if I wrote my understanding of those metrics, it might help some people.
It turns out these two posts are the most popular ones on the blog!
I hope you enjoy them 🙂
Project metrics: earned value management with a 6-function calculator
Project metrics have a bad reputation. Things like Earned Value and Schedule Performance Index are presented as complex calculations that only experts can master.
Nothing could be further from the truth
Actually, most project metric calculations can be done by anyone with grade-school math skills. The challenge in project metrics calculations is not in the formulas themselves, but in mixing project management concepts with mathematical operators.
Still, these concepts are basic to project management. Every good project manager should understand them.
Start with the basics: Earned Value, Planned Value, Actual Cost
These three are not really formulas. They are the three figures project metrics use to create all the other ones, like the Cost Performance Index […]