According to our original plan (assuming work is uniformly distributed over time), we should have completed 50% of the project by now and it should have cost us 500. Then, we start the project.Īfter 5 days, let’s say it has cost us 400 and we have completed 40% of the work. Before we begin the project, we estimate that it will take 10 days to complete painting and it will cost 1000. Let’s take a simple project of painting our home.

Step by Step tutorial on Earned Value Management in Excel.

Video of Earned Value Management Terms & Definitions.

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