Configure Earned Value Management
The earned value reporting period defines the frequency and the interval for the Update Earned Value History job. The job takes historical earned value snapshots of performance and saves them in the earned value history table. When using earned value methodologies to analyze project performance, the job uses the earned value reporting period to take the snapshot. It saves the snapshot that is based on the project association to the period. The project manager associates the project to the appropriate period.
When tracking for compliance with ANSI/EIA-748-A earned value management requirements, the project manager must associate all projects and contracts to a reporting period. Some United States Federal regulations specify that for any particular reporting period, execute, and produce the contract performance reports. These reports must record your performance to date and for the current period.
best practice, associate a project, comprising tasks and associated with a contract, to the same earned value reporting period as the contract.
Setting up reporting periods defines the time intervals that are used to save earned value (EV) data, such as weekly or monthly. The periods are used to store and calculate historical earned value.
Create Earned Value Reporting Periods
Create the earned value reporting periods that project managers use for earned value analysis (EVA). Defining the reporting period also defines how often the report runs. Use the frequency field to specify the recurrence.
Project managers associate the following to defined reporting periods:
- projects. The reporting period is the basis for the historical earned value snapshots of project performance.
- contracts. For more information, seeEarned Value Manager (EVM) Add-In.
Example: Weekly Frequency
For the reporting period recurrence to occur every week, enter
1as the frequency. To set it for every other week, then enter
2. To set the recurrence to twice a year, enter
26. Or, for once a year, enter
Follow these steps:
- Open Administration, and from Earned Value Management, click EV Reporting Periods.
- Click New.
- Complete the following general fields:
- NameDefines the reporting period name.
- IDDefines the reporting period unique identifier.
- DescriptionSpecifies the reporting period description.
- ActiveIndicates if the reporting period is active. When the reporting period is active, project managers can associate projects to it.Default:Selected
- Select one of the following as the period type:Values:Weekly, Monthly, Quarterly, Annually
- Define the recurrence for the selected period type:
- WeeklyFrequency.Defines the weekly interval (range 1-52) and the day of the week (Sunday through Saturday) on which the period starts. For example, set the recurrence to every two weeks, enter 2. Or, set it to twice a year, enter 26.Default:Weekly on Sundays starting this Sunday.
- MonthlyFrequency.Defines the monthly interval on which the period is to start. Have the recurrence start on a specific day (range 1-31) each month. Or, have the recurrence start at monthly intervals (First, Second, Third, Fourth, or Last) on a specific day of the week (Sunday to Saturday).Default:Monthly starting on the first day of the month.
- QuarterlyFirst Quarter Starts.Defines the month (January through December) when the first quarter of the period start.Frequency.Defines the quarterly interval on which the period is to start. Have the recurrence start on a specific day (range 1-31) of the month each quarter. Or, have the recurrence start at quarterly intervals (First, Second, Third, Fourth, or Last) on a specific day of the week (Sunday to Saturday).Default:Quarterly starting on January 1
- AnnuallyEvery.Defines the month (January through December) when the period starts.Frequency.Defines the annual interval on which the period is to start. Have the recurrence to start on a specific day (range 1-31) of the month each year. Or, have the recurrence start at annual intervals (First, Second, Third, Fourth, or Last) on a specific day of the week (Sunday to Saturday).Default:Annually starting on January 1
- Click Save and Return.The new reporting period is created and displays in the list.
View a List of Earned Value Reporting Periods
View a list of earned value reporting periods on the Earned Value Reporting Periods list page. Open Administration, and from Earned Value Management, click EV Reporting Period.