What is the formula to determine earned value (EV) for a program?
What is the formula to determine earned value (EV) for a program?
The formula to determine earned value (EV) is Percent complete times the program budget at completion. This means you multiply the percentage of the work that has been completed by the total budget allocated for the entire program. This calculation helps in assessing the value of work actually performed up to a certain point in the project.
It is the total budget for each process up to a certain point in time. For example, suppose a project consists of 10 processes, each with a construction period of one month and a budget of $1,000, and after two months, two processes are completed with a budget of $300. The EV in this case is $200, which is the percentage of progress (2/10) multiplied by the original budget of $1,000.