Task Management Software for Team Collaboration
 
HomeDownloadSupportPurchase
 
Installation GuideStartUp GuideOnline Help

Budgeted Cost of Work Performed (BCWP) per Project (Earned Value)

Budgeted Cost of Work Performed (BCWP) per Project (Earned Value)
   
Home  » Products  » VIP Task Manager Pro  » Tutorials  » Customization Guide  » Budgeted Cost of Work Performed (BCWP) per Project (Earned Value)

Budgeted Cost of Work Performed (BCWP) per Project (Earned Value)

    Budgeted Cost of Work Performed (BCWP) per Project or Earned Value (EV) is a project management KPI that shows the total amount in money budgeted for the work that has been performed by certain date.

    Budgeted Cost of Work Performed (BCWP) or Earned Value (EV) can be found by:

    BCWP = Total Budgeted Cost * Percent % Work Complete

    Total Budgeted Cost includes the expenses for labor and materials. If you have labor-based projects only, Total Budgeted Cost or Actual Cost of project can be calculated by the following formula:

    Total Budgeted Cost (or Actual Cost) = (Actual Work * Standard Rate) + (Actual Overtime Work * Overtime Rate) + Resource per Use Costs + Task Fixed Cost

    For labor- and material-based projects the formula for Total Budgeted Cost would be as follows:

    Total Budgeted Cost = Actual Cost + Material Cost (or cost for raw materials)

    Percent % Work Complete is the percentage of project accomplishment against Actual Work of a project. Percent % Work Complete can be calculated by the formula below:

    Percent (%) Work Complete = Actual Work / Work

    Actual Work of a project is the amount of time that has been already spent to complete some portion of work in a project.

    Work is the total scheduled amount of time the project should take (baseline work).

    Budgeted Cost of Work Performed allows to estimate the progress of your projects comparing of how much work was performed so far and how much was originally budgeted for this portion of work to be completed.

    To calculate Budgeted Cost of Work Performed (BCWP) per Project you need to follow the steps below:

    Create custom field "Total Budgeted Cost" for project

    If you have labor-based projects you can use KPI "Actual Cost of Projects"

    For material-based projects you need to create additional custom field, for example, "Material Cost" with Code "cf_material_cost"

    To calculate Total Budgeted Cost for material-based (and labor-based) projects please create the custom field "Total Budgeted Cost" with the formula:

    $cf_actual_cost + $cf_ material_cost

    Create the custom field "Percent % Work Complete" with the formula:

    $cf_actual_work /$cf_work

    Create the custom field "BCWP" with the formula:

    $cf_percent_work_complete * $cf_total_budgeted_cost

  • On Task Tree select the task group for which you need to display Budgeted Cost of Work Performed (BCWP)  and select "Custom fields options"
  • Set the following custom fields settings for the following custom fields: "Work", "Actual Work"
    • In "Settings for" select "This task group"
    • select "Enable"
    • in "Aggregated (for task group)" field select "Sum" from drop-down list and the corresponding custom field name
  • To edit the values Work and Actual Work for projects manually select the option "Edit"

  • Set the following custom fields settings for the following custom fields: "Total Budgeted Cost" (or "Actual Cost") and "BCWP":
    • In "Settings for" select "This task group"
    • select "Enable"
    • select "Calculated by custom field formula (for task group)"
  • Budgeted Cost of Work Performed KPI per project on Task Tree


Play demo Play Demo

TryTry It FREE
Overview VIP Task Manager

» VIP Task Manager Pro
   VIP Task Manager Std
   Testimonials
   Turnkey Solution

Available: Workdays, Monday - Friday
8 am - 8 pm GMT for Europe/Asia
1 am - 1 pm PST for America




Login:
Password:
Register
Forgot your password?
Login As:
Login As
You can log in if you are registered at one of these services:

ProductsSolutionsDownloadSupportPurchaseContactsForumVideoMy Account
Copyright © 2004 - 2017 Task Management Software
 
          
 
Site Map