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USE ACCOMPLISHMENT VALUE 201

Trap Using CPM-based models and relying primarily on total
float (slack) to have us focus on the critical work can actually
lead to schedule slippage rather than preventing it. This prob-
lem occurs when we concentrate so much on the activities that
lie on the critical path that much of the other work does not
get done when planned. Eventually, all the work loses its float
and there is no time margin left to deal with any problems
that might crop up.

I monitor this by doing a periodic float analysis, to see if more and more tasks
are joining the low-float group. The more tasks there are that have low float, the
less room there is to manipulate the work to adjust for problems. This float analy-
sis can be a very important early warning system.

But what if you do not have a critical path schedule, or do not feel comfortable
with the float measurements? Are there other ways to measure progress and
schedule risk? One alternative is to use Earned Value.

The EV method requires that we assign some kind of weight factor to each
task. This can be resource hours, or budgeted cost. Or it can be an arbitrary esti-
mate that allows us to balance the value of each task against the others.

The capability to use earned value measurements is available in most project
management software products. But it is rarely utilized, for two primary reasons.
First, it asks the user to learn several new terms and acronyms. How about
BCWS, BCWP, ACWP, CPI, SPI, CV, SV, BAC, EAC, and other alphabet soup
terms? Secondly, the use of this feature is usually associated with cost perfor-
mance analysis, a function that is not universally utilized. But you need not be
scared off by either the terminology or the costing aspects. It is quite easy and
practical to employ just part of this earned value protocol, for measuring the rate
of work accomplishment against the plan. Here’s how.

Forget about the alphabet soup, except for these two terms: Budgeted Cost of
Work Scheduled (BCWS) and Budgeted Cost of Work Performed (BCWP).
BCWS is really the value of the work that was planned to be accomplished at any
point in time, per the target or baseline schedule. BCWP is the budget for the
work times the percent complete, at any point in time. In fact, why don’t we re-
name these terms planned accomplishment and earned value (or accomplishment
value, if you prefer). You may even find that your software uses these terms, in-
stead of or in addition to the acronyms. You do not have to have a CPM to use this
earned value technique. You do have to have a list of all the work to be performed
(identified as tasks in your scheduling database), a schedule for the work, and