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During this Microsoft Project 2016 advanced training tutorial video, we will concentrate on the examples of earned value analysis as well as discuss some important points about the topic. We will also cover the key project options that are relevant to earned value analysis.
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Welcome back to our course on Project 2016 Advanced.
In this section I’m going to concentrate on an example of Earned Value Analysis and reporting. But first of all I need to cover some general points about Earned Value Analysis, very important points in fact, and then I need to look at the key Project options that are relevant to Earned Value Analysis.
The first important point is that Earned Value Analysis is done on the basis of comparing progress with a baseline. It therefore makes it absolutely essential that you have saved a baseline. Also the fact that you are comparing progress means that you must have recorded some progress. So you may be in the very early stages of a project, maybe you only have one task in progress but until you have recorded some progress information then Earned Value Analysis won’t tell you anything at all.
The second important point which is closely related to that one is that you should have pretty much all of your tasks, resources, assignments, etcetera in place before you save the baseline which you are going to use for Earned Value Analysis. There is little point in say putting half a dozen tasks, saving the baseline and then putting in another 20 tasks and expecting Earned Value Analysis to tell you anything useful. Now that’s not to say that you won’t have change during the life of a project. Let’s take the Farm_Foods_Web_Site_16 as an example.
Earlier on in the course we added a task here, task 21 User Testing, and because it wasn’t in the baseline that we saved earlier on if we now run Earned Value Analysis and the figures for User Testing will be included we will get a slightly misleading set of results in relation to User Testing, Testing and in fact the whole project due to the fact that in the comparison between the project as it is now and the baseline that was saved earlier on there is a difference of one task.
You may well accept discrepancies like this one on the grounds that they are relatively small percentage of figures overall. But if you really did discover that you’d missed a whole chunk of a project or perhaps part of a project is de-scoped, a whole set of tasks are to be taken out, it would be much more useful to save a new baseline or at least adapt the original baseline to take those tasks out of the original baseline.
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