Earned value management (EVM) is not a new concept—its origins date back to the mid-1960s. Yet, in the ensuing five decades, project and program managers have struggled to fully embrace EVM as an effective way to measure project progress and performance. Instead, it’s often viewed as a “check-the-box” exercise required primarily for public sector projects.
Times are changing. EVM is poised to realize its full potential as a powerful tool for managing future risk and delivering more successful projects for contractors and owners. The key to this evolution: fully integrated cost, schedule, and plan or work breakdown structure (WBS) data—and the ability to effectively analyze the combined impact of these variables. Oracle Construction and Engineering’s EVM solution, which is powered by Primavera Unifier, is leading the way.
Organizations across diverse industries face a common set of challenges when it comes to large, complex projects: multi-year budgets that encompass numerous funding sources, thousands of contractors and subcontractors, and schedules with thousands of tasks that evolve daily. Public sector entities often feel this pain most acutely due to the vast scale of many government programs.
EVM can and should be an ideal methodology in both the public and private sector for effectively identifying variances in projects based on work performed versus work planned. Creating and managing a baseline for performance management is fundamental to the EVM methodology. Building this baseline requires unified accounting, scheduling, control, and plan data. For decades, however, organizations have struggled to aggregate this data efficiently, accurately, and cost effectively, with the process requiring significant manual intervention.
EVM enables project managers to measure performance. It also can provide a foundation for corrective action and risk mitigation—which is a game changer. Advanced analytics, integrated with EVM capabilities, are the key to flipping the paradigm from EVM as a tedious requirement to a prized asset for industries such as energy, infrastructure, aerospace and defense, and beyond.
Oracle Construction and Engineering, a leader in project and portfolio management solutions, understands organizations’ perennial EVM pain points (one of Primavera’s founders literally wrote the book on EVM*). Just as important, we understand its potential to drive better project outcomes. Oracle’s EVM solution unifies cost, schedule, and plan data, and extends insight with powerful analytics capabilities. Our solution brings new levels of insight and efficiency to EVM processes.
Our EVM capability leverages a preconfigured integration of Primavera Unifier, a highly configurable project controls platform, and Oracle planning and scheduling application Primavera P6 Enterprise Project Portfolio Management (Primavera P6 EPPM). This integration synchronizes resources, roles, and activities—giving organizations the comprehensive view of project performance they need.
Specifically, the EVM capability within Primavera Unifier allows you to leverage data from Primavera P6 EPPM to:
In addition, users of Primavera Analytics can import their EVM data to gain additional insights from their Primavera P6 EPPM and Primavera Unifier data.
By connecting directly to your schedule data in Primavera P6 EPPM, Primavera Unifier's EVM solution provides a streamlined process that enables organizations to easily build an integrated picture of project progress encompassing cost, scope, and schedule to fulfill requirements.
Oracle empowers leaders to focus on analysis and proactive decision-making, rather than data gathering. The end result: more successful project outcomes.
*Earned Value Project Management, Quentin W. Fleming and Joel W. Koppelman, 1996