ANSI EIA 748 Earned Value
ANSI EIA 748 earned value measurement is facilitated with TrackerSuite.Net.
ANSI EIA 748 is the primary standard for advanced, large-scale Earned Value Management (EVM) systems. The standard defines 32 criteria for full-featured EVM system compliance. These ANSI EIA 748 criteria can be broken into five main categories:
- Defining the nature of the work to be done, as well as the organization that is performing the work.
- Planning and budgeting for projects.
- Work accounting requirements and practices.
- Analysis and report generation.
- Revisions and data maintenance.
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Following these criteria, organizations can define work accurately, not only in terms of the work itself, but also those responsible for it (from an organizational standpoint), the nature of its cost, and the time and resources allocated for its completion. By defining work in this manner, variances in planned and actual schedules and costs can more easily be determined, allowing organizations to more accurately measure their performance. Some of these criteria, such as the establishment of Performance Management Baselines (PMB) and Cost Control Accounts, require a tight integration of the EVM system with the structure of the organization itself.
The integrated nature of TrackerSuite.Net makes it an ideal solution for organizations seeking to make their EVM system compliant with the ANSI EIA 748 standard. For example, one of the base configuration elements of TrackerSuite.Net is the Organizational Breakdown Structure (OBS) of the enterprise. Utilizing the OBS in conjunction with its Work Breakdown Structure capabilities, TrackerSuite.Net facilitates the establishment of Performance Management Baselines as well as finding intersections for Cost Control Accounts.
Other features offered by TrackerSuite.Net to facilitate compliance with the ANSI/EIA 748 standard include the ability to:
- Define authorized work elements within a Work Breakdown Structure.
- Define work in discrete packages, budgeted in dollars and/or hours.
- Utilize task dependencies and links to schedule authorized work sequentially.
- Define milestones and deliverables for tracking project progress.
- Establishing budgets for work, with identification of major cost elements such as labor and materials.
- Establish overhead budgets for significant organizational components of the company for expenses that will become indirect costs.
- Charge direct and indirect costs against projects utilizing account codes to ensure that they are correctly assigned to associated budgets.
- Defining authorized work elements within a Work Breakdown Structure (WBS).
- Defining the organization itself (an Organizational Breakdown Structure, or OBS).
- Integration of organizational processes planning, scheduling, budgeting, work authorization and cost accumulation processes.
- Identify organizational control or function for overhead (indirect) costs.
- Integration of WBS & OBS structures.
- Schedule work sequentially, identifying task dependencies.
- Identify milestones and goals.
- Establish a time-phased budget for the planned work.
- Identify significant cost elements and establish budgets for them.
- Establish discrete work packages and their budgets.
- Determine that the sum of the work and planning budgets is within the control account budget.
- Identify level of effort activities.
- Determine overhead budget.
- Identify management reserves and undistributed budget.
- Reconcile program target cost goal with budgets and reserves.
- Record direct costs.
- Summarize direct costs into the WBS.
- Summarize direct costs into the OBS.
- Record indirect costs.
- Identify unit, equivalent and/or lot costs.
- Accounting of material costs.
- Generate monthly reports on cost and schedule variances.
- On a monthly basis, determine differences between planned and actual schedule and cost performances.
- Identify budgeted and actual indirect costs.
- Summarize data and variances.
- Implement management action dependent on variances.
- Update Estimate at Complete (EAC) costs.
- Incorporate authorized changes.
- Reconcile current budgets to prior budgets.
- Control retroactive changes to records involving work performed.
- Prevent unauthorized revisions to budget.
- Document changes to Performance Measurement Baseline (PMB).
The TrackerSuite.Net applications that can be leveraged for ANSI EIA 748 include:
- Project Tracker.Net - an online project management solution that simplifies the project management process, and offers a wide array of project management tools including color-coded dashboards, centralized document management, and more.
- Time Tracker.Net - a Web timesheet system that streamlines the time reporting process with automatic approval routing.
- Expense Tracker.Net - a Web based expense reporting system similar to Time Tracker.Net, that streamlines the expense reporting process. Expense Tracker.Net also features automated approval routing of expense reports, activity logs, and support for multiple currencies.
- Purchase Tracker.Net - a Web based purchase order system that streamlines and secures purchasing with automated approval routing and activity logs.
- The Tracker DataWarehouse - a Web based reporting engine with an arrray of configurable business intelligence reports. The Tracker Data Warehouse also integrates with Crystal Reports.