Earned schedule (ES) is an extension to the theory and practice of earned value management (EVM).
It has been stated that Earned Schedule provides a useful link between traditional Earned Value Analysis and traditional project schedule analysis -- a link that some say has been missing in traditional EVM theory.
Traditionally, EVM tracks schedule variances not in units of time, but in units of currency (e.g. dollars) or quantity (e.g. labor hours). Of course, it is more natural to speak of schedule performance in units of time, but the problems with traditional schedule performance metrics are even deeper. Near the end of a project -- when schedule performance is often a primary concern -- the usefulness of traditional schedule metrics is demonstrably poor. When a project is completed, its SV is always 0 and SPI is always 1, even if the project was delivered unacceptably late. Similarly, a project can languish near completion (e.g. SPI = 0.95) and never be flagged as outside acceptable numerical tolerance. (Using traditional SV as an exception threshold, it is not uncommon that an SPI > 0.9 is considered acceptable.)
To correct these problems, Earned Schedule theory represents the two measures SV and SPI in 2 separate domains: currency and time. They are named as SV($) and SPI($), to indicate they relate to currency; and SV(t) and SPI(t), to indicate they relate to time.
A stated advantage of Earned Schedule methods is that no new data collection processes are required to implement and test Earned Schedule; it only requires updated formulas. Earned Schedule theory also provides updated formulas for predicting project completion date, using the time-based measures.
As emerging practiceedit
As of 2005, Earned Schedule is designated as an "emerging practice" by the Project Management Institute. It was introduced in 2003 a seminal article "Schedule is Different" [1] by Walter Lipke, in The Measurable News, the quarterly magazine of the College of Performance Management, of the Project Management Institute. Earned Schedule received a global recognition in the academic community when published in 2009 [2]
Notes and referencesedit
^Lipke, Walt (2003). "Schedule Is Different" (PDF). Project Management Institute College of Performance Management.
^Lipke, Walt; Zwikael, Ofer; Henderson, Kym; Anbari, Frank (2009). "Prediction of project outcome: The application of statistical methods to earned value management and earned schedule performance indexes". International Journal of Project Management, 27(4), 400-407.
External linksedit
Earned Schedule Web Site
May 17, 2024
earned, schedule, extension, theory, practice, earned, value, management, been, stated, that, earned, schedule, provides, useful, link, between, traditional, earned, value, analysis, traditional, project, schedule, analysis, link, that, some, been, missing, tr. Earned schedule ES is an extension to the theory and practice of earned value management EVM It has been stated that Earned Schedule provides a useful link between traditional Earned Value Analysis and traditional project schedule analysis a link that some say has been missing in traditional EVM theory Contents 1 Earned schedule measures 2 As emerging practice 3 Notes and references 4 External linksEarned schedule measures editTraditionally EVM tracks schedule variances not in units of time but in units of currency e g dollars or quantity e g labor hours Of course it is more natural to speak of schedule performance in units of time but the problems with traditional schedule performance metrics are even deeper Near the end of a project when schedule performance is often a primary concern the usefulness of traditional schedule metrics is demonstrably poor When a project is completed its SV is always 0 and SPI is always 1 even if the project was delivered unacceptably late Similarly a project can languish near completion e g SPI 0 95 and never be flagged as outside acceptable numerical tolerance Using traditional SV as an exception threshold it is not uncommon that an SPI gt 0 9 is considered acceptable To correct these problems Earned Schedule theory represents the two measures SV and SPI in 2 separate domains currency and time They are named as SV and SPI to indicate they relate to currency and SV t and SPI t to indicate they relate to time A stated advantage of Earned Schedule methods is that no new data collection processes are required to implement and test Earned Schedule it only requires updated formulas Earned Schedule theory also provides updated formulas for predicting project completion date using the time based measures As emerging practice editAs of 2005 Earned Schedule is designated as an emerging practice by the Project Management Institute It was introduced in 2003 a seminal article Schedule is Different 1 by Walter Lipke in The Measurable News the quarterly magazine of the College of Performance Management of the Project Management Institute Earned Schedule received a global recognition in the academic community when published in 2009 2 Notes and references edit Lipke Walt 2003 Schedule Is Different PDF Project Management Institute College of Performance Management Lipke Walt Zwikael Ofer Henderson Kym Anbari Frank 2009 Prediction of project outcome The application of statistical methods to earned value management and earned schedule performance indexes International Journal of Project Management 27 4 400 407 External links editEarned Schedule Web Site PMI Sydney Chapter Web Site Retrieved from https en wikipedia org w index php title Earned schedule amp oldid 1189701983, wikipedia, wiki, book, books, library,
