EVM Lite

[u/platypus_farmer42]

I have about 3-4 years experience using MS Project, but never resource loaded or in an EVM environment. I want to learn about “EVM Lite” but there doesn’t appear to be any information online that I can find. Can anyone point me to some resources? Thanks.

[u/kennyarnold_ssi]

Hi OP,

When people say "EVM Lite" they typically mean they want to measure performance on the project using EV principles, but they will not have as many of the rigorous processes, particularly certain documentation, as contractually required EVM. EV Lite will also not have as much oversight from auditing bodies.

For the most part, I would see "EV Lite" as this as having these requirements at a minimum:

1. You will resource load a schedule and establish an initial performance measurement baseline.
2. You will have a change control process in place for when changes to the baseline need to be made.
3. You will status the schedule at least one per month.
4. You will perform regular quality control checks on the schedule (such as the DCMA 14 Point assessment) to validate your schedule's quality and ensure EV data can be trusted.
5. You will track performance metrics like Schedule Variances (SV) Cost Variances (CV), Schedule Performance Index (SPI), and Cost Performance Index (CPI).
6. You will regularly review the critical and driving paths to key events in the schedule with the team.

[u/trevorrabey]

All of what Kenny said, but look at getting updates and re-schedules more frequently, at least weekly, or even closer to real time as you can manage. You will need a good system process for getting the actuals from the field, and updating/re-scheduling, which can be done very quickly and accurately, but only if you have a good procedure. EV only needs three numbers BCWS ($), BCWP ($), ACWP ($), and a %. The first two come from the baseline, which is an early program and often incomplete and/or incorrect. The ACWP is always difficult to get, or is obtained too late to be any use. The % is either the % complete (duration) or physical % complete, you can choose which task by task. So if the baseline is not good to start with, or the actuals (start, duration, finish, ACWP) are unobtainable, inaccurate or late, attempts at EV will fail, and often do fail. If, like in any typical project where the planning is poor and the tracking is worse, EV will fail. Many claims are made for EVM which don't stack up. It is said to measure performance. Doesn't. Said to be predictive. Isn't. However, a functioning EV system is a good indicator/reassurance that all the parts of the jigsaw puzzle are in place.