Microsoft Office Tutorials and References
In Depth Information
Your first question about earned value probably is, “Why does Project use
BCWP in its column names but earned value in the Options dialog box?” Don’t
ask. Just be glad I explained both terms in a previous section (“Acronym
Soup: BCWP, ACWP, EAC, and CV”).
The second question you probably have is, “What do the settings you can
make to the earned-value calculation do to your project?” Well, start by
looking at Figure 14-10, which shows you what’s behind the Earned Value button
on the Calculation tab of the Options dialog box.
The Default Task Earned Value Method setting provides two choices:
% Complete: This setting calculates earned value using the percent
complete that you record on each task. This assumes that for a task that’s
halfway complete, half the work hours have been used.
Physical % Complete: Use this setting if you want to enter a percent of
completion that is not based on a straight percent-complete calculation.
For example, if you have a four-week task to complete a mail survey, 50
percent of the effort might happen in the first 25 percent of the duration
of the project: designing, printing, and mailing the survey. Nothing
happens for two weeks while you wait for responses, and then there’s a
flurry of activity when the responses come back. So a straight
calculation that 50 percent of the task is completed 50 percent of the way
through wouldn’t be accurate. If your projects have a lot of tasks like
this, you might consider changing your settings to use this method.
Then, you can display the Physical % Complete column in your Gantt
chart sheet, and enter what you consider more accurate
percentcomplete information for each task.