Tracking Schedule and Cost Variance in Microsoft Project

Project Progress Tracking in MS Project

"Track and Report project schedule and cost variance using Microsoft Project"

How do you know if your project is ahead or behind schedule? Or your project financials are over or under? Well you can see that using the earned value tables in Microsoft Project.

For Microsoft Project to calculate the earned value such as Schedule Variance (SV) and Cost Variance (CV) or SPI and CPI there are 4 important things you need to set up in the Project. 1) Ensure all tasks has resources assigned to them 2) All resources standard rates are updated in the resource sheet 3) Project start date and status date is set and 4) Project baseline is set. Once all these are updated then at any time during the project execution phase you can see the earned value details by going under the view tab from the menu then click on Tables and click more tables and select the Earned Value and click apply. Then you will have Earned Value management information.