Earned Value Management
Spire utilizes earned value management systems to critique and measure a contractor’s forward progress. With earned value management in place, Spire can assist any owner or contractor in monitoring cost and schedule performance to identify whether a project is behind/ahead of schedule and under/over budget. Earned value management services can also complement Spire’s CPM scheduling services to ensure that the budget and the project schedule are monitored for any discrepancies.
Between job cost estimates, building a work breakdown structure, and submitting an initial schedule of values – it’s easy to set out a plan for success. Project planning is important, but without regularly checking in on the project’s health, it often appears impossible to know how things are really going.
By constantly keeping an eye on both the actual cost of work performed and the earned value of the project, it’s easier to anticipate any potential issues.
We assist our clients in developing, monitoring, and measuring the following cost and schedule parameters:
Earned Value Measurements
- Budgeted Cost of Work Scheduled (BCWS)
- Budgeted Cost of Work Performed (BCWP)
- Actual Cost of Work Performed (ACWP)
- Cost Variance (CV)
- Schedule Variance (SV)
- Cost Performance Index (CPI)
- Schedule Performance Index (SPI)