Scorecard for Calculating Earned Value with KPIs
Amongst the several techniques that are today in vogue in the field of project management, earned value management comes across as one of the most popular and widely used concepts when it comes to keeping a track on profitability of the project.
The technique can used to assist a company to monitor & access the progress in the delivery of the project keeping in mind the budgetary and costing parameters. When this technique is clubbed with KPIs, it becomes a very effective tool for managing complex projects.
The KPIs in earned value management can be broadly grouped under 'Financial Perspective', 'Project costing', 'Performance Index', 'Customer SatisfactionTo start with, KPIs under Financial Perspective can include metrics like 'Profitability percentage', 'Budget of Project Execution', 'Earned revenue', and 'Cost of work performed'.
Going forward, Project Costing can compromise of metrics like 'Actual cost of project over planned cost', 'Estimated cost of project', 'Cost Performance Index' and 'Cost Schedule Index'.
Next Performance Index can be determined by metrics like 'Return on investment to customer', 'Return to company', 'Schedule Performance Index' and 'Cost Variance'.When it comes to Customer Satisfaction metrics like 'Quality of project', 'Customer feedback', 'Customer satisfaction index' , 'Customer Perspective' can be considered.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
How to align these KPIs with a strategy of our organization?
Ideally, you need to have a strategy (in a form of a strategy map) before you start thinking about the ways to measure its execution (KPIs).
Don't have a strategy map yet? Use free Strategy Map Wizard to create a strategy map for your current business challenges. The wizard will:
- Ask you several questions to organize your ideas
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What are the benefits of Earned Value metric:
- Financial measures in this package include such KPIs as cost of performed work or earned revenue.
- Project costing and performance index are perspectives to pay a special attention to.
- Of course, customer feedback and relationships with customers are measured by KPIs offered by the earned value Balanced Scorecard.
Get these KPIs
More useful information for Financial Estimation
- Related metrics and KPIs for: Retail Sales, Sales, Credit Risk, Retail Banking, Mortgage, Financial Statement Analysis, Market Risk, Financial Risks, Operational Risk, Active Portfolio Management, Passive Investments.
- Customers who viewed this item also viewed: Sales Metrics.
Earned Value Estimation Balanced Scoreboard Screenshots
Metrics for Financial Estimation
This is the actual scorecard with Earned Value Dashboard and performance indicators.
The performance indicators include: earned value management, financial perspective, profitability percentage, budget of project execution, earned revenue, cost of work performed, project costing, actual cost of project over planned cost, estimated cost of project, cost performance index, cost schedule index , performance index, return on investment to customer, return to company, schedule performance index, cost variance, customer satisfaction, quality of project, customer feedback, customer satisfaction index, customer perspective.
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