Project analysis involves monitoring information about the project’s performance regarding scope, schedule, and cost. Regular analysis helps identify deviations from the project plan, allowing for corrective action when necessary. There are multiple performance indicators to monitor, but common ones include earned value (EV), actual cost of work performed (ACWP), and budgeted cost of work scheduled (BCWS). Performance is assessed by comparing EV with ACWP, while project progress is assessed by comparing EV to BCWS. Earned Value, also known as the Budgeted Cost for Work Performed (BCWP), is based on the work actually completed.
Another important project indicator is Scheduled Work, which is the budgeted cost scheduled to be completed at the current date if the budgeted value had been evenly distributed over the work days of the activity. Scheduled Work is also known as the Budged Cost of Work Scheduled (BCWS).
When calculating Earned Value and Scheduled Work, the budgeted cost is either considered to be the planned values or the baseline values, depending on the value of the Earned Value Method.
The important project indicators are presented on the Project Performance Analysis page or the Project Monitoring/Analysis tab. Alternatively, project indicators are presented per project cost element in the Project Monitoring/Cost and Project Monitoring/Hours tabs.
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