A retroactive baseline change adjusts budget, earned value, actual cost, or related records associated with a previously reported period. It is not automatically prohibited. However, it should remain exceptional, receive
Estimate at completion, or EAC, is the forecasted total cost of completing all authorized work. In earned value management, it combines the actual cost incurred through the status date with
Estimate to complete (ETC) is the forecasted cost required to finish all authorized remaining work from the current reporting point through completion. In earned value management, ETC is the forward-looking
Schedule variance vs cost variance is a comparison between two earned value management metrics. Schedule variance measures whether the program has accomplished more or less work than planned. Cost variance
A schedule changes PMB dates, logic, or time-phased budget only when the program approves a corresponding baseline change. Routine status updates and forecast revisions may move current dates, change float,
The difference between a control account vs work package is primarily one of management level and purpose. A control account is a management control point where scope, schedule, budget, earned
An EVMS planning package is a logical grouping of future work within a control account that has defined scope, schedule, and budget but is not yet planned in enough detail
Earned value management (EVM) is a program-control method that integrates technical scope, schedule and budget to measure performance objectively. It answers three basic questions: How much work did we plan
What is EVMS? An Earned Value Management System (EVMS) is the integrated set of processes, roles, data, tools and management practices used to plan authorized work, measure its accomplishment, capture
EVMS on a firm-fixed-price contract is possible, but it is not the normal DoD approach. Defense Federal Acquisition Regulation Supplement (DFARS) 234.201 discourages applying earned value management to firm-fixed-price contracts
