What is EARNED VALUE MANAGEMENT (EVM) in Project Cost Management (2023)? PMP Training Videos

What is EARNED VALUE MANAGEMENT (EVM) in Project Cost Management (2023)? PMP Training Videos | PMBOK

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Learn what is Earned Value Management (EVM) in project Cost Management for your PMP Exam (2023). This PMP tutorial video teaches you the basic concepts of Earned Value Management which you need to remember for your PMP Certification Exam. It is also equally important to know this theory if you want to understand Earned Value Management as a topic. Here we understand the Earned Value Management technique through an example...which makes it super easy! Link to new PMP Exam Content Outline 2023: Domain-Process, Task-5 (Plan and manage budget & resources)
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--------⏰TIMESTAMPS⏰---------
0:00 Earned Value Management (EVM) - Introduction
1:10 What is Earned Value Management (EVM)?
8:35 Spending Curves and Cost Variance Formulas (SV, CV, SPI, CPI)
15:55 To Complete Performance Index (TCPI)
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#earnedvaluemanagement, #pmbokedition6, #pmpwithray
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Пікірлер: 230

@PMPwithRay 2 жыл бұрын

Check my Earned Value Management Course on Udemy (9 PDUs - PMI Approved): www.udemy.com/course/project-management-with-earned-value-management-evm-9-pdus/?referralCode=9AA377EE371EB9FEAB00

@shawnchoi9498 3 жыл бұрын

Hi Ray, I just passed my PMP exam today on my first try! I want to thank you for your videos, especially this one on the EVM which I had a hard time memorizing the formulas. I did read through the entire PMBOK, but it was just way too much information and I kept struggling with mock exams. I did not feel confident as days were approaching until I found your video just a few days ago. Your videos provided good strategies to approach the exam questions (especially the situational questions). Thank you again for these great videos, and I hope many other viewers can benefit from you!

@PMPwithRay 3 жыл бұрын

Hi Shawn, Many many congratulations for achieving this milestone in your career! It is all because of your hard work & dedication...enjoy the achievement! Welcome to the club... Please refer to my KZfaq channel, website (pmpwithray.com) and my 200-Q Udemy mock within your network & peer group! That's the only way I can reach out to more potential PMP aspirants like you!...and help them achieve success... Wish you all the best in your career ahead...which I am sure will scale new heights now with PMP!!! I am really happy that I was a part of your journey for PMP.... All the best, stay well... Best, Ray

@danielessiet4063 2 жыл бұрын

You're winning!

@gwendalynaugustine1344 Жыл бұрын

Thank you!!! I was having such a snag understanding this portion of the training and your video was the only one of several I watched that spelled it out in a comprehensive way. Much appreciated.

@PMPwithRay Жыл бұрын

Glad it helped! Thank you for your comment. Please check out my full training course on EVM (business case study based) on Udemy if you need an in-depth understanding on the topic: bit.ly/EVM_PMPWITHRAY

@nouransebaq831 3 жыл бұрын

these videos are amazing, best and most clear ones i have found online! thank u so much

@PMPwithRay 3 жыл бұрын

Glad it helped! Thank you for watching & commenting :)

@esmememories8910 Жыл бұрын

I am so glad I came across your channel. You have really helped me make big progress in my studying journey. I had a hard time understanding how to get EV when it wasn't given which was a big wall in my progress. I finally am able to move on and practice what I have learned. Thanks.

@PMPwithRay Жыл бұрын

Thank you Esmeralda for watching and commenting!

@rameshvenkat5984 3 жыл бұрын

You have nicely explained about EV; I have to pause several time and listen, very interesting and you made it easy to follow - best video ever - Thanks a lot.

@PMPwithRay 3 жыл бұрын

Glad you enjoyed it! Thank you for watching & commenting :)

@dashcamincidences451 3 жыл бұрын

This video is really helpful for me to understand the terminology of PV, EV, AC and remaining things. Thanks Nilotpal Ray for made such a informative video.. THANKS A LOT

@PMPwithRay 3 жыл бұрын

Glad it was helpful! Thank you for watching & commenting :)

@khushbooshanker5335 2 жыл бұрын

What a wonderful video! I am planning to write my PMP soon and I am sure your videos would be super helpful. Thank you so much for creating quality content like this :) Cheers!

@PMPwithRay 2 жыл бұрын

Glad it was helpful! Thank you for watching & commenting!

@Nadeesha_B 4 жыл бұрын

This is great !!

@PMPwithRay 4 жыл бұрын

Thanks for watching!

@jaysonbundred9688 3 жыл бұрын

Hey Ray, thanks again for another great video. I am watching all of your videos in addition to reading the PMBOK, and doing Head First PMP prep. I plan on starting my mock exams this coming Tuesday. I tried to follow your link to the 200 question mock exam on the PMI website, but for some reason, it is only available in India!!! Your tip on calculating float in the Critical Path video was very helpful too! Please keep up the good work my man, and keep those videos coming!!! I will be eternally grateful to you when I pass my PMP exam on the very 1st attempt!

@PMPwithRay 3 жыл бұрын

Thank you Jayson for your wonderful comment. Happy to be a part of your PMP journey! :)

@aceoclubs321 3 жыл бұрын

Thank you, Ray - I passed my PMP exam yesterday with 5 AT! Your videos helped me a lot, especially the ones on situational questions, change management, and ITTO quizzes. Great content!

@PMPwithRay 3 жыл бұрын

Hello Minn, Many many congratulations for achieving this milestone in your career! It is all because of your hard work & dedication...enjoy the achievement! Welcome to the club... Please refer my KZfaq channel, website (pmpwithray.com) and my 200-Q Udemy mock within your network & peer group! That's the only way I can reach out to more potential PMP aspirants like you!...and help them achieve success... Wish you all the best in your career ahead...which I am sure will scale new heights now with PMP!!! I am really happy that I was a part of your journey for PMP.... All the best, stay well... Best, Ray

@ejazshahid4165 3 жыл бұрын

This is one of the most illustrative explanation of important EV analysis terms. Great job!! You may want to add some concept about BAC=AC+[(BAC-EV)]/(CPI*SPI)] that may help to understand as how positive SPI may possibly offset the negative CPI at advanced project completion date.

@PMPwithRay 3 жыл бұрын

Hi Ejaz, thanks for the suggestion. I will definitely keep that as one of the future video ideas ! Cheers...

@kunalnarad6072 4 жыл бұрын

Great work sir. Your videos are really helpful. Thank you.

@PMPwithRay 4 жыл бұрын

You are most welcome! Thanks for watching.

@anantakar7008 Жыл бұрын

That's a highly excellent explanation. EVM concept was always difficult to comprehend and till then it seems vague and complex to understand. With this explanation, all important parameters of EVM could be understood. Thank you for simplifying this concept.

@PMPwithRay Жыл бұрын

Glad it was helpful! Thank you for watching & commenting!

@thunderbolt55 3 жыл бұрын

Ray, simple and precise explanation. The example helps to understand the concept thoroughly.

@PMPwithRay 3 жыл бұрын

Thank you for watching & commenting Nikhil...!

@elenakosheleva6083 3 жыл бұрын

Thanks - this is great. Would love to see a video on types of risk analysis and assessments - how to tell which one to use and distinguish them.

@PMPwithRay 3 жыл бұрын

Hello Elena, yes I will definitely keep that as a future video idea. Thank you for watching & commenting :)

@awadhesh1983 2 жыл бұрын

Thanks for explaining this. Really helpful !

@PMPwithRay 2 жыл бұрын

You're very welcome! Thank you for watching & commenting :)

@uplife7024 2 жыл бұрын

Thank you so much sir, and god bless you. 🙏🙏🙏

@PMPwithRay 2 жыл бұрын

You are most welcome! Thank you for watching & commenting :)

@khadycm4939 2 жыл бұрын

Thank you very much !! Very clear

@PMPwithRay 2 жыл бұрын

Glad it helped! Thank you for watching & commenting :)

@AlSufyan225 4 ай бұрын

Thank you so much... the way you explain things is excellent. You manage to condense a vast amount of effort, knowledge, and work into a nutshell.

@PMPwithRay 4 ай бұрын

You're very welcome! And glad it was helpful

@michellediaz8233 Жыл бұрын

sooooooooooo HELPFUL!!!!! THANK YOU!

@PMPwithRay Жыл бұрын

Glad it helped! Thank you for watching & commenting!

@khaledmazhar 3 жыл бұрын

thank you, very good explanation !!

@PMPwithRay 3 жыл бұрын

Hi Khaled So glad you liked it.I wish you all the very best for your PMP prep! Keep an eye on my KZfaq channel for more upcoming tutorial videos (as per the new format of the PMP exam in 2021) and please share them within your network & peer group who are also preparing for the PMP exam… Take care, Ray

@sameer9839 Жыл бұрын

What a fantastic easy to understand video. Excellent example as well. Hats off :))

@PMPwithRay Жыл бұрын

Glad it helped! Thank you for watching & commenting.

@akshay55300 3 жыл бұрын

YOU MADE IT SO EASY TO UNDERSTAND.... THANKS A LOT

@PMPwithRay 3 жыл бұрын

Glad it was helpful! Thank you for watching & commenting :)

@Markett00 Жыл бұрын

Super…Thanks

@PMPwithRay Жыл бұрын

Thank you for watching & commenting!

@TanvinMahtubFariha 3 жыл бұрын

Thank you so much...!!!

@PMPwithRay 3 жыл бұрын

Welcome 😊 Thank you for watching!

@abhilashagupchup6129 3 жыл бұрын

Great work, Ray! EVM is explained in a very simple, yet VERY EFFECTIVELY. And of course what is the importance of this tool in the real world scenario. By the way, I am doing my revisions for my first attempt of PMP. Here are the steps I am following - * Re-read each chapter in PMBOK followed by the Rita Mulcay book. * Solve the exercise based on the chapter from Rita, Andey Crowe 'The PMP Exam' book, and from Kavita Sharma 'Practice Test Updated for 2021' Find the knowledge gap, work on it, and then move to the next chapter. * Watch your videos for additional tips etc. just I watched this one. After completing all the chapters in this way, I will be going for a full length mock test (PAID and at least 4, and I have marked yours' n Simplilearn here as one of them) Please let me know if you would like to suggest anything here.

@PMPwithRay 3 жыл бұрын

Hi Abhilasha, the prep roadmap seems good to me. Remember to read a lot on Agile/Hybrid project management & solve as many scenario based question on those as possible (my Udemy course definitely covers that)....remember to build error logs & revise them daily as well. Cheers!

@sundasshaukat3645 2 жыл бұрын

Hi Abhilasha, I am preparing for my PMP exam. I was wondering if you have links to ebooks of the authors you have just mentioned?

@sudarachathuranga3291 3 жыл бұрын

Thank you Sir ❤️ I’m from Sri Lanka 🇱🇰

@PMPwithRay 3 жыл бұрын

Thank you for watching & commenting! :) All the best for your PMP.

@priyankachoubey5722 2 жыл бұрын

you made it really easy :)thank you so much

@PMPwithRay 2 жыл бұрын

Glad it helped! Thank you for watching :)

@geetikabansal7311 3 жыл бұрын

Thank you!

@PMPwithRay 3 жыл бұрын

You're welcome!

@LearningHub-lr8iy Жыл бұрын

conceptually explained ❤❤

@PMPwithRay Жыл бұрын

You are most welcome! Thank you for your comment!

@sumitmitra9144 2 жыл бұрын

Very lucid and clear explanation... Great

@PMPwithRay 2 жыл бұрын

Glad you liked it! Thank you for your comment!

@Sakshi1110 Жыл бұрын

Thanks a lot... Really

@PMPwithRay Жыл бұрын

You are most welcome! Thank you for watching & commenting.

@gabru5612 6 ай бұрын

Thanks a lot man!!

@PMPwithRay 6 ай бұрын

My pleasure!

@hnoor7381 3 жыл бұрын

Very informative.

@PMPwithRay 3 жыл бұрын

Thanks a lot for your comment! All the best for your PMP prep :)

@raghavendras2442 2 жыл бұрын

Thanks for the detailed explanation👍

@PMPwithRay 2 жыл бұрын

Glad it was helpful Raghavendra!

@shafiiqbal631 3 жыл бұрын

great Bro. Nice interpretation. Thanks

@PMPwithRay 3 жыл бұрын

Glad you liked it! Thank you for watching & commenting!

@nebiyumekonnen6362 5 ай бұрын

Your example is incredibly helpful.

@PMPwithRay 5 ай бұрын

Glad it was helpful!

@AnirudhSharma1976 2 жыл бұрын

Thanks

@PMPwithRay 2 жыл бұрын

Welcome. Thank you for your comment :)

@satmurthi5239 Жыл бұрын

Hi Ray, love your videos, I did your udemy simulator as well; you indicated to take tough ones but yours was relatively easy on simulator I think; also you indicated to do some questions at the end of EVM video; it is missing; all said and done, your videos have lots of clarity - well done

@PMPwithRay Жыл бұрын

Great to hear! Thank you for watching & commenting. Please checkout my EVM course on Udemy here: bit.ly/EVM_PMPWITHRAY

@mohammedshazebaslam3874 2 жыл бұрын

Thanks buddy it was just so simple I was dying to learn the method 🤟

@PMPwithRay 2 жыл бұрын

Thank you for watching & commenting!

@engrumarkhan 4 жыл бұрын

Tip for you guys, personal experience. Attempt mathematical question at the end of exam.

@PMPwithRay 4 жыл бұрын

Appreciate sharing your views. Thanks for watching & commenting :)

@harshadshinde4388 Жыл бұрын

Great learning 👍

@PMPwithRay Жыл бұрын

Thank you! Cheers!

@nbhalala 3 жыл бұрын

Well explained with an example

@PMPwithRay 3 жыл бұрын

Thank you for watching & commenting Naresh. All the best for your PMP :)

@najamsyed4284 2 ай бұрын

Thanks to upload this Valuable Video. Thank you very much.

@PMPwithRay 2 ай бұрын

Thank you for watching and commenting!

@saptarshiboral576 Жыл бұрын

Thanks a lot.

@PMPwithRay Жыл бұрын

Thank you Saptarshi for watching and commenting!

@samiroza8092 3 жыл бұрын

Very nice explanation , thanks so much

@PMPwithRay 3 жыл бұрын

Glad it was helpful! Thank you for watching & commenting :)

@Dcffin 3 жыл бұрын

Thank you :)

@PMPwithRay 3 жыл бұрын

You're welcome!

@rashmisingh6492 3 ай бұрын

Great explanation. Thank you!!

@PMPwithRay 3 ай бұрын

Glad it helped! Thank you for watching and commenting!

@user-wi2zr5sj7m 2 ай бұрын

Dear Ray, I want to express my sincere gratitude for your daily quiz and EVM. Your videos have contributed a lot for my PMP success. Many thanks!

@PMPwithRay Ай бұрын

Glad it helped! Thank you for participating and commenting!

@DivyashreeSrinivasan Жыл бұрын

Excellent Explanation

@PMPwithRay Жыл бұрын

Glad it was helpful! Thank you for watching & commenting.

@travelwithshahid2807 2 жыл бұрын

It's a wonderful videos, your explanation skills are great. Thank you for making this video.

@PMPwithRay 2 жыл бұрын

Glad you like them! Thank you for watching & commenting!

@Estelae_bn 2 жыл бұрын

Love your explanation going to have exam within 3 days. Wish me a luck

@PMPwithRay 2 жыл бұрын

You can do it Nomin! Best of luck! May God be with you always...:)

@ap14spt 3 жыл бұрын

Super

@PMPwithRay 3 жыл бұрын

Thanks :)

@shalinialexander3097 Жыл бұрын

Your content really helped me a lot with my exam prep for the capm. I passed my exam today above target !

@PMPwithRay Жыл бұрын

Congratulations! Thank you Shalini for watching and commenting!

@sujatashroff6385 8 күн бұрын

Hi Ray, Superb. Really had tough time understanding this topic. You explained very nicely. Thanks a ton.

@PMPwithRay 7 күн бұрын

Glad it was helpful! Thank you for watching and commenting!

@dayanishantha 3 жыл бұрын

super hit

@PMPwithRay 3 жыл бұрын

Glad it helped! Thank you for watching & commenting :)

@AnjaliMishra-qv9pl 2 ай бұрын

Very nicely explained sir

@PMPwithRay 2 ай бұрын

Thank you for watching and commenting!

@InterceptorAdvisors 5 күн бұрын

Good useful stuff

@PMPwithRay 5 күн бұрын

Many thanks for watching & commenting !

@kaustubhnarkar 7 ай бұрын

Thank you sir, your video really helped. I'm gate aspirant, decided to study construction project management and these basics are really important to be clear in mind.

@PMPwithRay 7 ай бұрын

Thank you for participating and commenting!

@chaitanya_dasadiya 3 ай бұрын

Such a nice explanation and thanks for the valuable content all the time.

@PMPwithRay 3 ай бұрын

Thank you for watching and commenting!

@prabhatsingh1509 2 жыл бұрын

Good

@PMPwithRay 2 жыл бұрын

Thank you for watching & commenting :)

@jacopolago 4 жыл бұрын

Thanks for your lesson. It would be great to have a deep dive into the diefferent EAC formulas and were to apply which one, based on example questions

@PMPwithRay 4 жыл бұрын

Great suggestion! Will definitely take that into account for future videos!

@jacopolago 4 жыл бұрын

@@PMPwithRay Hurry up as I will have my exam on 23rd May ;) ;)

@PMPwithRay 4 жыл бұрын

Sure. I will try :) Will the exam centers open up by 23rd May? Or are you writing it online from home?

@jacopolago 4 жыл бұрын

@@PMPwithRay I'll take my exam at home. I'm trying to udnerstand how to deal with the fact that I won't be able to use any pen or paper: using only the whiteboard provided will be a challenge, especially for schedule networks and EVM questions...

@PMPwithRay 4 жыл бұрын

Hi. I would suggest to defer your exam date till the exam centers open up (if you can). It would be very difficult to solve EVM/scheduling questions without a pen and a paper. Also, this 'at home' stuff PMI is conducting for the first time and there is bound to be glitches and faults in their system. So, better use your attempt in the right conditions.

@user-kb3xk3ne4c Ай бұрын

Hi Ray Your teaching is exceptional.

@PMPwithRay Ай бұрын

Glad you think so! Thank you for watching and commenting!

@biplabkundu7911 3 жыл бұрын

I feel, I don`t need to remember any formula now, example, explanation, graphical representation made this so simple.. Very helpful. Only 1 question: why do we have (rather need) so many other formulas in Ritas book or in PMBOK ?

@PMPwithRay 3 жыл бұрын

I am glad that you found the video helpful. With the new format of the PMP Exam, you need not to remember all the formulas apart from the basic ones such as CPI & SPI. But make sure you know how to interpret the values of TCPI, EV etc....questions in the PMP exam will be more deductive based...rarely they will give you math problems. Hence, concept building is important.

@bimwalaindia 10 ай бұрын

pls make videos on topics which you think are difficult for self study. This is very useful video.

@PMPwithRay 10 ай бұрын

Thank you for your comment. Please watch the other videos on my KZfaq channel and you will be able to find a lot of self-study videos

@bini2181 3 жыл бұрын

Pls explain BAC calculation as well. All the other content is awesome.

@PMPwithRay 3 жыл бұрын

Hi Bini Thanks for watching. I would definitely keep your suggestion in mind.

@sujatashroff6385 8 күн бұрын

Can you please cover Scrum Project Management , Jira (New Version) , Take One Example of Project and explain how PM is acting in order to get project on scope, on cost, on schedule, On Quality, On Team (Motivation), On Risk, On Planning and Monitoring and executing

@PMPwithRay 5 күн бұрын

Many thanks for the suggestion. Will plan soon

@sangameshmannapur1063 4 жыл бұрын

The video is very useful. thanks for your time to create such nice videos. Shall I get copy of the notes? not only specific video for all of them

@PMPwithRay 4 жыл бұрын

Hi Sangamesh. Thank you for watching & commenting! Unfortunately I don't have a copy of the notes. However, you can do a screen capture and print them out from the video itself. Even better, make the notes yourself while watching the video...that way your learning would be 100% complete.

@ihsan-not-pro-9372 3 жыл бұрын

you saved my life

@PMPwithRay 3 жыл бұрын

Thanks for watching. All the best for your exam.

@pranavom 2 жыл бұрын

Hello Ray this video has really been very helpful, I have understood everything. I just have one doubt, any further elaboration on EAC and ETC is required or what's told in the video is enough?

@PMPwithRay 2 жыл бұрын

The theory explained should be enough. You need to practice Q&As now to see if you can apply what you have learnt. Also, check out this article from PMI to read a bit more about EVM: www.pmi.org/learning/library/earned-value-management-systems-analysis-8026

@rushikeshvalvi4966 Жыл бұрын

Harba ❤

@PMPwithRay Жыл бұрын

Thank you for watching & commenting!

@srishamohod5109 3 жыл бұрын

Dear Sir, Could you please upload Project Resource management video ?

@PMPwithRay 3 жыл бұрын

Hello Mahendra. Yes, will do soon! Thank you for watching & commenting! :) All the best for your PMP exam!

@WaterSeason571 4 жыл бұрын

That s Give Me Clear Idea. Thanks Ray.

@PMPwithRay 4 жыл бұрын

Ur welcome. Thanks for watching!

@varundutta2381 3 ай бұрын

Does PMI allow to do these calculation in the exam on a rough sheet ? If not then how are these values calculated in real exam.

@amitbhalgat4556 4 жыл бұрын

Hi Ray can you please solve the pmp exam questions related to EVM

@PMPwithRay 4 жыл бұрын

Yes. I will upload a video soon where I would be solving EVM questions for the PMP exam. Thanks for watching and commenting Amit...

@ikshitasankhe5412 3 жыл бұрын

Please make a video on calculating EAC and ETC ... also variance at completion Also I gave the mock test by u at Udemy... one question talks about spi less than 1 n correction ans says project left midway ... is that the case every time

@PMPwithRay 3 жыл бұрын

SPI

@taimurhassan3800 18 күн бұрын

We can also simplify that . EV is equal to . %complete(actual) x BAC .

@PMPwithRay 12 күн бұрын

Thank you for watching & commenting!

@manas100 3 жыл бұрын

Hi Ray, In one of your videos you said that PMI gives a sample paper once we enroll for PMP. Well, I have scheduled the exam but can't find the sample paper...Could you let me know how to obtain it please ?

@PMPwithRay 3 жыл бұрын

Hello Manas, you can find the details of the sample paper in this video of mine: kzfaq.info/get/bejne/fst1npuTmtWzgJs.html

@basantsharma151 6 ай бұрын

can you please elaborate how you calculated the EAC & ETC values

@PMPwithRay 6 ай бұрын

Hello, those are advanced concepts of EVM and are covered in my Udemy course: bit.ly/EVM_PMPWITHRAY

@ahteshamsiddiqui1194 4 жыл бұрын

HI Ray, Great video. helps a alot to understand, though I have a doubt that your ETC and EAT is incorrect that you mention on your "Spending Curve Chart".

@ahteshamsiddiqui1194 4 жыл бұрын

EAC*

@PMPwithRay 4 жыл бұрын

Hi Ahtesham. Thank you for watching & commenting. Can you tell me why do you think that ETC & EAC is incorrectly explained in this video?

@PMPwithRay 4 жыл бұрын

Hi Ahtesham. Thank you for watching & commenting. Can you tell me why do you think that ETC & EAC is incorrectly explained in this video?

@ahteshamsiddiqui1194 4 жыл бұрын

@@PMPwithRay Ray, according to me: EAC = BAC/CPI EAC = 80/0.83 EAC = 96.38 ETC = EAC-AC ETC = 96.38-30 ETC = 66.38 OR EAC = AC+BAC-EV EAC = 30+80-25 EAC = 85 ETC = EAC-AC ETC = 85-30 ETC = 55 Correct me if I'm wrong?

@sunny.sensei 4 жыл бұрын

@@ahteshamsiddiqui1194 Hello, let me explain. EVM provides multiple ways to forecast the cost performance of the project. Each is based on different assumptions. [Approach-1] The project will continue with the same cost-performance as it has been til now. CPI is a measure of current cost-performance. EAC = BAC/CPI ETC = (BAC-EV)/CPI [Approach-2] Going ahead the project will proceed as per the plan, not as per the current CPI. EAC = AC + (BAC-EV) ETC = BAC - EV There are many other approaches too. I gave you two of them as a reference. All the best with your PMP exam preparations!! #SunnySensei

@ezsutra 2 жыл бұрын

Ray, your example of computing EV from BAC assumes the scope can be broken down into units (need to do a WBS) and the cost per unit can be determined. Is that the assumption?

@PMPwithRay 2 жыл бұрын

Hello Ezsutra, yes that's correct. That WBS level decomposition of project work along with the costs associated for each one of them is part of the triple constraint baseline (scope, cost, schedule) before you start the project.

@HM_Milan 3 жыл бұрын

Finally found god for PM

@PMPwithRay 3 жыл бұрын

Thank you so much, Milan for your kind words. I am just a mentor in your path to success. All the best.

@harendrasaini2505 3 жыл бұрын

Sir, could you share TCPI based on EAC/ETC. thanks

@PMPwithRay 3 жыл бұрын

Sure. Will do soon via another video. Thank you for watching & commenting :)

@vikrantrindani6665 3 жыл бұрын

There are 4 type of EAC formulas...Its bit confusing to use when & which formula...can you guide us please..

@PMPwithRay 3 жыл бұрын

Hi. Yes, will come up with a video soon on that one. Thanks for the suggestion.

@rupalighodke7551 3 жыл бұрын

@@PMPwithRay Hi Ray..thank you for the video. It really helps. Have you come up with the video for other EAC formulas

@ArthurDayneFirstOfHisName 3 жыл бұрын

Ray, if I’m ahead of schedule, wouldn’t the project (fence) finish on cost ahead of schedule ?

@PMPwithRay 3 жыл бұрын

You cannot say that for sure. If you are ahead of schedule by CRASHING, then your costs may go up due to additional labor or resources...is that clear?

@ArthurDayneFirstOfHisName 3 жыл бұрын

Just looked up crashing..I understand now. Thanks !

@mohdjawed80 4 жыл бұрын

Can you make all the formula calculation related to Pmbok guide 6th edition.

@PMPwithRay 4 жыл бұрын

Are you talking about a list of all the mathematical formulas for PMP? I have already made it. Watch here: kzfaq.info/get/bejne/ptmlZr2X3K_KYYU.html

@mohdjawed80 4 жыл бұрын

Thankyou, I am planning to attempt exam in this month any suggestions?

@PMPwithRay 4 жыл бұрын

There is a lot I share over my experience sharing email series at: www.pmpwithray.com/how-to-prepare-for-pmp-exam-2019/

@sumant2000 2 жыл бұрын

Lets say there is a project for migrating on-premise applications to Azure cloud. In this project, vendor has provided budget of 100K USD for just 2 months. how to evaluate this and how to decide whether this quotation is really good or vendor is trying to earn too much. I think technical knowledge on cloud migration is must, will PMP help in this?

@PMPwithRay 2 жыл бұрын

Hi Sumant. What you should do here is: 1. Take competitive quotes from alternate vendors (similar scale) to evaluate whether your vendor has really quoted high. That's standard bidding process that's part of procurement management 2. Hold a meeting with the vendor and discuss the scope & associated cost items with him, to see if there are any scope to bring down the cost without sacrificing time or quality You learn these kind of things when you prepare for PMP

@preyeabel4103 2 жыл бұрын

pls how did you calculate 30 dollars for cost incurred.

@PMPwithRay 2 жыл бұрын

That's an assumption,...to explain the concept. Take it as one of the given data points before you start solving a problem...

@pourushpatil2952 Жыл бұрын

How have you calculated EAC as 120

@PMPwithRay Жыл бұрын

Hi, the rationale is explained in the video :) Please rewind and re-watch and let me know if you are not able to understand.

@serdarozdil 2 жыл бұрын

Dear Ray, if the project is ahead of the schedule, how come you multiply $30 by 4? (to find 120$) Isn't EAC equal to BAC/CPI? EAC=80$/0.83=$96.38 ??? and ETC=EAC-AC =96.38-30=66.38$ ???

@PMPwithRay 2 жыл бұрын

Hello...yes you are correct. If this was a EVM problem where you are asked to calculate the EAC, then it would be BAC/Cumuative CPI. But note the 2 things as mentioned below: 1. The $120 given as EAC here is an 'assumed' figure to help you understand the concept of EVM. Moreover, the CPI used is absolute CPI and not a cumulative CPI right? 2. What if after week2 or week3, the project gets heavily delayed & your EAC jumps beyond $96 (as your calculation provides you now)? Then it's very possible that it touches the $120 mark. right? So, I recommend....don't take this illustration as a EVM problem asking you to calculate EAC....but take it as a concept building exercise to develop understanding of the earned value concepts.

@SureshBabu-io7zg 6 ай бұрын

That's absolutely correct... EAC is 96$ and not 120$.. ETC is 66$ and not 90$... Curve needs to be adjusted accordingly... Great question

@arunabhadhar8222 2 жыл бұрын

Sir,how to contact you for PMP Coaching because I am the aspirant of PMP.....

@PMPwithRay 2 жыл бұрын

Hello Arunabha, you can email me at nilotpal.ray87@gmail.com

@rengarajansrikanth2006 3 жыл бұрын

Simply Superb, Please do on quality, S.H. Comm and Procurement too

@PMPwithRay 3 жыл бұрын

HI Srikanth, yes will come up with these videos soon! :)

@nigelearl3932 2 жыл бұрын

Should the EAC not be $96.38, how did you get $120 please

@PMPwithRay 2 жыл бұрын

Hello Nigel...please note the 2 things as mentioned below for the $120 figure: 1. The $120 given as EAC here is an 'assumed' figure to help you understand the concept of EVM. Moreover, the CPI used is absolute CPI and not a cumulative CPI right. 2. What if after week 2 or week 3, the project gets heavily delayed & your EAC jumps beyond $96 (as your calculation provides you now)? Then it's very possible that it touches the $120 mark. right? So, I recommend....don't take this illustration as a EVM problem asking you to calculate EAC....but take it as a concept building exercise to develop understanding of the earned value concepts.

@subhs467 3 жыл бұрын

One quick question. In few books it’s mentioned EAC=BAC/CPI. In your example it should be coming to 96 but you have taken it as 120 in the graph. Please help get it clarified

@tareqnaushad1967 2 жыл бұрын

i have the same confusion. using unitary method also we can show that EAC=96 . For example 1.25 unit of work takes $30 so 4 unit of work should take 30*4/1.25=$96 . Ray sir plz clarify

@PMPwithRay 2 жыл бұрын

Hello Subhankar...yes you are correct. If this was a EVM problem where you are asked to calculate the EAC, then it would be BAC/Cumuative CPI. But note the 2 things as mentioned below: 1. The $120 given as EAC here is an 'assumed' figure to help you understand the concept of EVM. Moreover, the CPI used is absolute CPI and not a cumulative CPI right? 2. What if after week2 or week3, the project gets heavily delayed & your EAC jumps beyond $96 (as your calculation provides you now)? Then it's very possible that it touches the $120 mark. right? So, I recommend....don't take this illustration as a EVM problem asking you to calculate EAC....but take it as a concept building exercise to develop understanding of the earned value concepts.

@PMPwithRay 2 жыл бұрын

Hello Tareq...yes you are correct. If this was a EVM problem where you are asked to calculate the EAC, then it would be BAC/Cumuative CPI. But note the 2 things as mentioned below: 1. The $120 given as EAC here is an 'assumed' figure to help you understand the concept of EVM. Moreover, the CPI used is absolute CPI and not a cumulative CPI right? 2. What if after week2 or week3, the project gets heavily delayed & your EAC jumps beyond $96 (as your calculation provides you now)? Then it's very possible that it touches the $120 mark. right? Then your unitary assumption does not hold true... So, I recommend....don't take this illustration as a EVM problem asking you to calculate EAC....but take it as a concept building exercise to develop understanding of the earned value concepts.

@mdnasim1108 4 жыл бұрын

Great vedio....How I can ping you on email..

@PMPwithRay 4 жыл бұрын

Hi Nasim, Thanks for watching & commenting. You can reach me at nilotpal.ray87gmail.com

@siddhantsrivastava7310 4 жыл бұрын

bro how are you getting 30 dollar after 1 week ? it should be 25dollar

@PMPwithRay 4 жыл бұрын

Hi SIddhant, you are confusing between EV and AC. In this problem, consider AC as a given datapoint of $30 (in all problems you have some given datapoints right?). The EV is $25...which is deducted as shown.

@lisawilson1492 3 жыл бұрын

HI there was no formula provided for EAC and ETC

@PMPwithRay 3 жыл бұрын

Hi Lisa, thank you for watching & commenting. EAC & ETC will be covered in a separate video. This is the first video in the EVM series. Stay tuned!

@krzysztofs551 3 жыл бұрын

@@PMPwithRay Hi, i was looking for this too. And when i use EAC = BAC 80/ CPI 0.83 it gives me 96.38, not 120. What do i do wrong? Also ETC = EAC - AC (30) is not 120 but 66.

@j96220 4 жыл бұрын

I understand how you got the $25. I don't understand how yu got $30. Thank you. You have explained this well, I just need a touch more clarity. Thank you.

@PMPwithRay 4 жыл бұрын

Hi Jacqueline, Thank you for watching & commenting :) The $30 value is used for explaining the example. Consider it as a given data for the problem.

@ktayler77 2 жыл бұрын

RAY I have watched this video and I still cant figure out you got 30$ for the first week of completion can you explain.

@PMPwithRay 2 жыл бұрын

Hi. The $30 is an assumption to explain the concept. All numerical problems have some data points provided initially right? Consider this $30 as one of those given data for your to calculate EV.