Eficent is now implementing the Earned Value Management technique in OpenERP 7, based on the project tasks.
Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of:
- Schedule, and
In a single integrated system, Earned Value Management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management.
Using the methodology improves both scope definition as well as the analysis of overall project performance.
How is it implemented in OpenERP
During the planning stage of the project, the user defines the scope of the work to be completed creating the tasks of the project. Sequences the tasks and adds the scheduled start and end dates on each task.
During the project execution the user records the actual time worked on each task and completes the activities.
At any point of time the user can check the cumulative Planned Value, Earned Value and Actual Cost for the project:
The user can also track performance variances, indices and forecasts.
- Are we ahead or behind schedule? (Schedule Variance)
- Are we under or over our budget? (Cost Variance)
The reports also provides answers to the following questions:
- How efficiently are we using time?
- When are we likely to finish work?
- How efficiently are we using our resources?
- How efficiently must we use our remaining resources?
- What is the project likely to cost?
- Will we be under or over budget?
- What will the remaining work cost?
The module “Earned Value Management” (project_earned_value) is now available in Github:
You can check for available webinars on Earned Value Management with OpenERP here: http://eficent.eventbrite.com. If you are interested to attend on a different date please let us know filling-in the following contact form: