Swank Enterprises LLC - Proposal and Earned Value Management Solutions
Earned Value integrates costs and schedule to perform an analsysis against performance.EVM POLICY:
"In accordance with ANSI/EIA-748, EVM is required for cost or incentive contracts, subcontracts, intra-government work agreements, & other agreements valued > $20M (Then-Yr $). EVMS contracts > $50M (TY $) require that the EVM system be formally validated by the cognizant contracting officer."
EVMS Acronyms
 
  • ACWP-(Actual Cost of Work Performed) Cost actually incurred in accomplishing work performed = ACTUAL COST
  • AUW-(Authorized Unpriced Work) Work contractually approved, but not yet negotiated / definitized
  • BAC-(Budget At Completion) Total budget for total contract thru any given level
  • BCWP-(Budgeted Cost for Work Performed) Value of completed work in terms of the work’s assigned budget = EARNED VALUE
  • BCWS-(Budgeted Cost for Work Scheduled) Time-phased Budget Plan for work currently scheduled = PLANNED VALUE
  • CA- (Control Account) Lowest CWBS element assigned to a single focal point to plan & control scope / schedule / budget
  • CBB- (Contract Budget Base) Sum of NCC & AUW
  • EAC-(Estimate At Completion) Estimate of total Cost for total contract thru any given level may be generated by Ktr, PMO, DCMA, etc. = EACKtr / PMO / DCMA
  • LRE-(Latest Revised Estimate) Ktr’s EAC or EACKtr
  • MR-(Management Reserve) Budget withheld by Ktr PM for unknowns / risk management
  • NCC-(Negotiated Contract Cost) Contract Price Minus profit or fee(s)
  • OTB- (Over Target Baseline) Sum of CBB & recognized overrun
  • PAC-(Price At Completion) NCC Plus Profit or Fee(s)PMB Performance Measurement Baseline Contract time-phased budget plan
  • PP-(Planning Package) Far-term CA activities not yet defined into WPs
  • SLPP- (Summary Level Planning Package) Far-term activities not yet defined into CAs
  • TAB- (Total Allocated Budget) Sum of all budgets for work on contract = NCC, CBB, or OTB
  • TCPI - (To Complete Performance Index)  Efficiency needed from ‘time now’ to achieve a BAC, EAC, or LRE
  • UB- (Undistributed Budget) Broadly defined activities not yet distributed to CAs
  • WP -(Work Package) Near-term, detail-planned activities within a CA
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