Earned value management
Meet your EVM requirements with our customized roadmaps to organizational readiness
We Set Your Organization Up For a Successful EVMS Execution.
Intra Management Solutions delivers customized solutions to help you fulfill your EVM requirements — empowering data-based decision making and contract compliance. In fact, the government often requires the use of EVM for large contracts or major capital investment projects to ensure foolproof standards compliance. Our seasoned team of EVM experts will provide the roadmaps to organizational readiness that your project needs.
Common EVM Needs
✔ Do you need help with tool development and training for EVMS?
✔ Do you understand the new Integrated Program Management Data Analysis Report (IPMDAR) requirements and reporting?
✔ Do you need assistance with an RFP? Or maybe you just need help with EVMS validation support for your RFP?
✔ Did you recently win a program and now your client (government entity) is coming to your site to review your Program requirements and you need help with IBR prep and support?
EVM System Setup Support
We set you up for success by providing a roadmap to organizational readiness for your EVM requirements in the following ways:
- General Assessment: Assess your general EVMS capabilities
- Organization: Assess your capabilities to satisfy EIA-748-C Guidelines 1–5
- Planning, Scheduling, and Budgeting: Assess your capabilities to satisfy EIA-748-C Guidelines 6–15
- Accounting Considerations: Assess your capabilities to satisfy EIA-748-C Guidelines 16–21
- Analysis and Management Reporting: Assess your capabilities to satisfy EIA-748-C Guidelines 22–27
- Revisions and Data Maintenance: Assess your capabilities to satisfy EIA-748-C Guidelines 28–32
ensuring every Program has the correct tool suite, with our related training services to help safeguard a successful project execution
Perform Mock Reviews
That prepare the CAMs and analysts to provide Program support and walk the customer through system requirements.
to prepare your team (PM, CAM, Analyst, etc.) to manage the Program through the rigors of EVMS.
with Program baseline and execution support
We’re here to help prepare a winning proposal by providing the following specialized services:
- RFP review, with strategy analysis
- IMP/IMS development covering all Program requirements
- Outline creation with compliance matrix
- Draft final proposal preparations covering all aspects of the RFP (Technical, Cost & Schedule)
- Support of the final “Red Team” review prior to submission
EVMS Validation Support for RFPs
At IMS, we have helped an extensive list of clients develop EVMS plans for their proposal by delivering the following services:
- Establish a EIA-748 compliant system description that you will need to setup the baseline and use during program execution
- Create an EVMS scorecard that will provide the Program with recommended system upgrades and modifications in order to meet the EIA-748 32 guidelines
- Baseline development support
- Provide the same application services to subcontractors, if required
- Develop a schedule that provides the major milestones leading up to Government validation of the EVMS
- Provide your company with a certification letter stating that your company is compliant with EVMS standards.
Tool Development & Training for EVMS
We’re here to train your team on how to capably use essential tools needed for a successful EVMS execution. Our expertise covers all aspects of suite support for the following scheduling, cost management, and collaborative workflow tools:
- Scheduling: MSP, OPP, P6
- Cost Management: Deltek PPM (Cobra,wInsight, PM Compass), forProject, ProjStream, CloudEVM
- Collaborative Workflows: SharePoint, Costpoint, PM Compass
IBR Prep & Support
We’ll be there every step of the way in providing the following IBR prep and support services:
- Support and training
- Review the SOW, RAM, Schedule, cost baseline, along with BAC analysis
- PM,CAM, and analyst training (with Mock reviews of their contract requirements)
- IBR support during the time of review
Designing & Implementing Winning EVM Strategies
By providing early visibility into problems with cost or time, EVM compares the financial and workflow-related plan to the actual value of the work being done, while answering three ever-present questions:
- Where were we?
- Where are we right now?
- Where are we going?
At Intra Management Solutions, we have time-tested experience guiding our clients in integrating the EVM method into their production process. By delivering road maps that help companies of all sizes successfully set up an EVM plan, we empower organizational readiness so you can adeptly avoid commonplace pitfalls, such as missing deadlines, going over budget, and underperforming.
Data Sources for Calculating EVM
Planned Value (PV) Description
This data source is simply the budgeted amount for the approved scope of work. It is calculated in relation to the project budget at completion (BAC) which allows it to serve as a baseline. PV may also be referred to as Budgeted Cost of Work Scheduled (BCWS).
Formula: Planned Value = (Planned Percent Complete) X BAC
Actual Costs (AC)
AC represents the actual money spent to date on project expenses. This includes employee compensation, equipment, supplies, contractor fees, travel and related expenses, indirect costs, etc.
Formula: No standardized formula
Earned Value (EV)
This percentage quantifies the value of the work that has been completed — or that the project has generated — to date. EV may also be referred to as the budgeted cost of work performed (BCWP).
Formula: Earned Value = % Complete (actual) x BAC
Cost Variance (CV)
CV measures the project performance by calculating the difference between earned value and actual costs. It can include three different types:
- Cumulative cost variance
- Point-in-time or period-by-period cost variance
- Variance at completion (VAC), as a specific type of the cumulative cost variance.
Formula: Cost Variance = CV = EV – AC
Schedule Variance (SV)
This EVM indicator demonstrates how far behind or ahead a project is based on subtracting the PV from the EV, thus indicating the percentage of work that has yet to be completed — as well as what percentage of work has been completed above the scheduled cost.
Formula: Schedule Variance % (SV) = EV − PV
Schedule Performance Index (SPI)
SPI answers questions about whether a project is on schedule, behind schedule, or ahead of schedule. This EVM output is a ratio of earned value to planned (or actual) value, thus showcasing how a project’s progress compares to the initial benchmarks established before work was undertaken.
Formula: Schedule Performance Index (SPI) = EV / PV); or SPI = EV/PV
Cost Performance Index (CPI)
CPI is considered one of the most important EVM metrics because it measures the cost efficiency for the work completed to date. This is the product of the earned value and the actual costs.
Formula: Cost Performance Index (CPI) = EV X AC
Are you struggling to set up an Earned Value Management (EVM) system?
Are you overwhelmed by your customer’s EVMS needs?
Industries We Support
As innovators of next-generation project performance, we primarily help advance the project management capabilities of Government Contractors in DoD, NASA, DOE, and other civilian agencies.
What is Earned Value Management (EVM)?
EVM is an efficient project management methodology used to effectively measure project performance at various points during a project’s life cycle.
What are the benefits of EVM?
For projects that have a shared risk of being delayed or over budget, EVM offers valuable benefits that include the following:
- Objective project measurements of percent complete
- Accurate forecasting for completion costs, resource planning, etc.
- Profitable project management practices
- Cost effective project management approach
Better timely, effective data-driven decisions
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