The Earned Value Indicator Calculator (EVIC)

The EVIC™ tool is intended to assist a user in calculating various earned value management indicators. The appropriate information is all selectable when the tool is used for the first time on a project. The tool requires that the user inputs a cost plan for a project, providing costs for each Work Package (WP) for each time period. This defines the Planned Value (PV) baselines for the project (per WP, per period, and in total for the project).

Based on the desired method for evaluating Earned Value Management (EVM), various EVM indicators are then calculated. Optional EVM methods are:

  • Fixed Formula: 50/50 rule

  • Fixed Formula: 20/80 rule

  • Fixed Formula: 0/100 rule

  • Percent Complete

  • Units Complete

This tool calculates a number of EVM indicators and calculations:

  • Cost Variance (CV)

  • Schedule Variance (SV)

  • Cost Performance Index – CPI (four optional methods)

  • Schedule Performance Index – SPI (four optional methods)

  • Cost Variance % (CV%)

  • Schedule Variance % (SV%)

  • Estimate At Completion for Costs – EACC (eight optional methods)

  • Estimate At Completion for Schedule – EACT (two optional methods)

  • Budget To Complete (BTC)

  • Estimate To Complete – ETC (seven optional methods)

  • To Complete Performance Index – TCPI (two methods based on Cost)

  • To Complete Performance Index – TCPI (two methods based on Schedule)

  • Variance At Completion for Costs (VACC)

  • Variance At Completion for Schedule (VACT)

At A Glance report, showing results on a simple dashboard for:

  • Cost Outlook

  • Schedule Outlook

  • TCPIC and TCPIT

  • CPI Trends (four graphs)

  • SPI Trends (four graphs)

  • Contingency Drawdown graph (for analyzing risk reserves)

Use of the tool follows a simple and logical process. A master dashboard (see image below) provides a clear path of the steps to follow using a flowchart made up of Command Buttons. Each Command Buttons will take the user directly to the relevant sheet selected; each sheet has a return Command Button in its top left hand corner.

The tool is intended to support users who have a good understanding of optional ways to calculate earned value, and ways to use optional CPI and SPI calculations.

Just $69!