Wednesday, February 4, 2015

Month 1 Earned Value Metrics

With today being Day 36 in our house building process and we just completed the foundation, I thought it was appropriate to report progress using money and time.

I love earned value, so it came natural to want to track the house with calculations. I first had to set up the plan. I had my Microsoft Project file that told me how long it was going to take, and I had my budget, but I wanted to marry them.

The money part of the statistics will be hidden. That just gets personal. Ladies do not share their age nor their finances. But you'll see the "trend" in the line graph and the EVM number will be an indicator of over-run or under-run.

For schedule, we came right in where I expected. There were a couple times we pulled ahead of schedule, but those rain days made us get back on track.



For budget, we came in under. This is rare. I have not anticipated running under and don't plan to ever again. We planned the budget to be realistic. We knew what we wanted and we used those estimates for our budget. No guessing on a contractor's part of what we want or don't want. Our estimates are accurate.

The graph below I will keep a tally on. It shows the amount of money spent at each draw. The bank uses the word "Draw" for paying the contractors. Inspectors come out every other week to check on progress. We cannot pay for something that hasn't been done. There are eleven draws, but I don't anticipate to be building for 11 months, so the draws don't represent months.


The blue line is currently the planned budget. A red line will soon appear that keeps track of the actual money spent. Let's hope the blue line over powers the red because we are on budget. A red line below the blue would be even better! Just not above the blue line.

I will be calculating "monthly" EVM along with cumulative. Some months may look good or bad, but the real judge is how you are dong cumulatively.



Blue indicates exceptional performance in that category. Green means expected. Yellow and red indicate something went off track.

Overall, we are very happy with our status. Let's keep this trend going!

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