Earned Value Management Software
Earned Value Management Software is critical for measuring how well a project is performing to plan. With 4castplus EVM, users gain early, predictive insight into a project’s potential for success. This enables project managers to make timely, corrective actions to ensure a project completes on budget and on schedule.
With 4castplus, earned value management isn’t difficult or time consuming. Organizations small and large can put together an EVM strategy with 4castplus that meets the needs of their business and complexity of their projects. Robust reporting at all project levels is available in a single click to analyze project performance. Key Metrics such as: Cost and Schedule Variance, Estimate To Complete, Estimate at Complete, CPI, SPI, and more are all continuously tracked and trended.
Real-Time Reporting of Estimate vs. Actual vs. Earned Value
4castplus enables quick visualizations of Planned Value vs. Actual Cost vs. Earned Value in real-time – arguably the single most effective way to determine a project’s health.
The underlying data that is used to calculate earned value is rooted in measurements of project progress. There is a fundamental need for any company to be able to understand how much they have accomplished to date on a project and how much is remaining. Most organizations struggle with their ability to measure progress and require better systems and processes to make that part of construction project management easy and accurate.
EVM standards dictate that percent complete is entered and not calculated. To avoid errors in subjective opinions, 4castplus provides sizing attributes by way of rules of credit milestones as well as units of progress to help project managers benchmark their assessment of percent complete. Read more on project progress and performance measurement…
4castplus provides key tools to the cost engineer for measuring and reporting EVM on regular intervals. You can establish “cutoff” dates as your standard status reporting points where 4castplus will align all the budget, actual and progress values for you.
Early Warning System
Earned value management software provides key reporting to identify productivity issues in a project; providing project managers with good information to act on these issues as early as possible. The PMI refers to EVM as “Project Management with the Lights on” since the use of EVM provides rich visibility and rich reporting on all levels of the project.
EVM By Cost, Revenue and Labor Hours
With 4castplus, you can report EVM metrics by cost, revenue and hours. This provides tremendous flexibility in status reporting for both internal and external stakeholders and clients. In addition to timeline charts like the S-Curve shown to the right, you can also build customized reports that are tailored to exactly how you want to present your project’s EVM health.
Drilldown Timeline Reports by WBS
4castplus provides many out-of-the-box reports and charts that provide rich detail at all levels of your projects and programs. For more complex projects, you can access EVM and Forecast reports at a more granular WBS workpackage level. In the example to the right, you can see that you can simply click on a task, and the system will generate multiple timeline reports including S-Curve, Forecast Spend and earned value trend reports.