{"id":2852,"date":"2021-08-19T12:13:25","date_gmt":"2021-08-19T17:13:25","guid":{"rendered":"https:\/\/projectmanagementacademy.net\/resources\/?p=2852"},"modified":"2022-01-21T11:16:53","modified_gmt":"2022-01-21T16:16:53","slug":"earned-schedule","status":"publish","type":"post","link":"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/","title":{"rendered":"PMP Formula: Earned Schedule"},"content":{"rendered":"\n<p>In the project management profession, there is a movement in support of the Earned Schedule (ES) tool to provide performance metrics in terms of time instead of cost. ES is considered an alternative tool and as such, has not been fully adopted by the Project Management Institute (PMI) as of this writing nor is it included in the Project Management Professional (PMP)\u00ae certification exam. Project Managers should know Earned Schedule (ES) is a way to transform Earned Value Management (EVM) metrics into time or duration measurements. Additional study is needed to determine if it brings value to a particular project or group.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>On this page:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#definition\">Earned Schedule (ES) Defined<\/a><\/li><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#calculation\">Earned Schedule Calculation<\/a><\/li><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#visual\">Earned Schedule Visual Representation<\/a><\/li><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#measures\">What Earned Schedule Measures<\/a><\/li><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#benefits\">Earned Schedule Benefits<\/a><\/li><li><a href=\"https:\/\/projectmanagementacademy.net\/resources\/blog\/earned-schedule\/#pmp-exam\">What to know for the PMP\u00ae certification exam<\/a><\/li><\/ul>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:40%\">\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/e360-media.s3.amazonaws.com\/2022\/01\/21103157\/PMP-Formula-Cheat-Sheet-809x1024.png\" alt=\"PMP Formula Cheat Sheet\" class=\"wp-image-4712\" width=\"296\" height=\"374\" srcset=\"https:\/\/e360-media.s3.amazonaws.com\/2022\/01\/21103157\/PMP-Formula-Cheat-Sheet-809x1024.png 809w, https:\/\/e360-media.s3.amazonaws.com\/2022\/01\/21103157\/PMP-Formula-Cheat-Sheet-237x300.png 237w, https:\/\/e360-media.s3.amazonaws.com\/2022\/01\/21103157\/PMP-Formula-Cheat-Sheet-768x972.png 768w, https:\/\/e360-media.s3.amazonaws.com\/2022\/01\/21103157\/PMP-Formula-Cheat-Sheet.png 1010w\" sizes=\"auto, (max-width: 296px) 100vw, 296px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>PMP\u00ae Exam Formula Cheat Shee<\/strong>t<\/h2>\n\n\n\n<p id=\"block-14690051-2796-4b03-bcb7-95d54bd01fcd\"><em><em>Learn how to successfully use project management formulas after reading this cheat shee<\/em>t.<\/em><\/p>\n\n\n\n\t\t\t\t\t<script>\n\t\t\t\t\t\thbspt.enqueueForm({\n\t\t\t\t\t\t\tportalId: 3294842,\n\t\t\t\t\t\t\tformId: \"730482d7-eef5-49c7-aa16-898785e241ee\",\n\t\t\t\t\t\t\ttarget: \"#hbspt-form-1778200734000-5819609364\",\n\t\t\t\t\t\t\tregion: \"na1\",\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t});\n\t\t\t\t\t<\/script>\n\t\t\t\t\t<div class=\"hbspt-form\" id=\"hbspt-form-1778200734000-5819609364\"><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:10%\">\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"definition\">Earned Schedule (ES) Defined<\/h2>\n\n\n\n<p>The proponents of the Earned Schedule tool and tool kit provide detailed information on the website: <a href=\"https:\/\/www.earnedschedule.com\/Home.shtml\"><em>Earned Schedule.com<\/em><\/a><em>. <\/em>Earned Schedule, not to be referred to as \u201cEarned Schedule PMP,\u201d is not included on the PMP\u00ae certification exam and does not replace the Earned Value Management (EVM) tool kit which is focused on cost performance.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td><strong>Earned Schedule Concept<\/strong><strong><\/strong><\/td><td><em><br>Identify the time at which the amount of earned value (EV) accrued should have been earned; by determining this time, time-based indicators can be formed to provide schedule variance and performance efficiency management information.<\/em> <em><br>\u2013 Source Earned Schedule.com Concept Description<\/em><br><br><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>As noted in the <a href=\"https:\/\/www.project-road.com\/blog\/2019\/7\/13\/earned-schedule\">PMI conference paper <em>Earned Schedule<\/em><\/a>, \u201c\u2026Earned Value Management works well for measuring cost performance, but the classic metric for schedule, SPI = EV \/ PV is lousy for tracking schedule.\u201d EVM can, in certain scenarios, indicate a project is on schedule when in fact the work has continued past the original target completion date. That conundrum is the driver behind what has become Earned Schedule.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td><strong>Earned Schedule (ES)<\/strong><strong><\/strong><\/td><td><em><br>Identify the time at which the amount of Earned Value (EV) accrued should have been earned<br><br>&#8212; Source <\/em><a href=\"https:\/\/www.apm.org.uk\/media\/1233\/earned-schedule.pdf\"><em>https:\/\/www.apm.org.uk\/media\/1233\/earned-schedule.pdf<\/em><\/a><em><br><br><\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"calculation\">Earned Schedule Calculation<\/h2>\n\n\n\n<p>Earned Schedule is, as the name implies, focused on schedule. ES gives project managers insight into units of time or duration. The formula, incorrectly referenced as \u201cearned schedule formula PMP\u201d in some circles, uses common metrics but with units of time not cost. To calculate ES, the formula uses these inputs <a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">expressed in units of cost (money or time): Earned Value (EV), Actual Time (AT), and Planned Duration (PD).<\/a> As included in the <a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">PMI conference paper <em>The Earned Schedule<\/em><\/a>: \u201c\u2026 PV, AC, and EV can be calculated for any element of work to determine progress and status of that element of work.\u201d<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p class=\"has-text-align-center has-medium-font-size\"><strong>Studying for the PMP Exam?<\/strong><\/p>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-50 is-style-fill\"><a class=\"wp-block-button__link has-white-color has-text-color has-background\" href=\"https:\/\/projectmanagementacademy.net\/free-pmp-questions?cat=pmp-formulas\" style=\"border-radius:20px;background-color:#366194\" target=\"_blank\" rel=\"noreferrer noopener\">Practice Questions for PMP Formulas<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator is-style-wide\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"has-normal-font-size wp-block-heading\">Earned Value (EV)<\/h3>\n\n\n\n<p>Formerly known as Budgeted Cost of Work Performed (BCWP), the <a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">EV is determined by multiplying the planned cost by percentage complete<\/a>. It is provided in cost units.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td><strong>Earned Value (EV)<\/strong><strong><\/strong><\/td><td><em>amount of work completed as of the status date<\/em><em><\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"has-normal-font-size wp-block-heading\">Actual Time (AT)<\/h3>\n\n\n\n<p>Previously <a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">known as Actual Cost of Work Performed (ACWP),<\/a> the AT is the sum of all costs for all work done to date. Like EV, it is expressed in cost units.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td><strong>Actual Time (AT)<\/strong><strong><\/strong><\/td><td><em>Actual time as of the status date<\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"has-normal-font-size wp-block-heading\">Planned Duration (PD)<\/h3>\n\n\n\n<p>The duration is, of course, measured in units of time. It is the time originally planned to complete all work.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td><strong>Planned Duration (PD)<\/strong><strong><\/strong><\/td><td><em><br>The original duration of the project schedule<\/em><br><br><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"visual\">Earned Schedule Visual Representation<\/h2>\n\n\n\n<p>The same values used in traditional EVM work, EV, AT, and PD are used for ES. From the Earned Schedule.com site, here is a graph example showing the values:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"384\" height=\"288\" src=\"https:\/\/e360-media.s3.amazonaws.com\/2021\/08\/18120854\/image-24.png\" alt=\"Earned Schedule - PMP Graph\" class=\"wp-image-2853\" srcset=\"https:\/\/e360-media.s3.amazonaws.com\/2021\/08\/18120854\/image-24.png 384w, https:\/\/e360-media.s3.amazonaws.com\/2021\/08\/18120854\/image-24-300x225.png 300w\" sizes=\"auto, (max-width: 384px) 100vw, 384px\" \/><figcaption>Figure 1 Earned Schedule graph from https:\/\/www.earnedschedule.com\/<\/figcaption><\/figure><\/div>\n\n\n\n<p>Earned Schedule (ES) is an <a href=\"https:\/\/www.earnedschedule.com\/\">analytical technique providing time-based indicators<\/a>, in contrast to the cost-based indicators from EVM. With the ES technique, the project manager has <a href=\"https:\/\/www.earnedschedule.com\/\">a status and predictive ability for schedule, analogous to the facility for cost using EVM<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"measures\">What Earned Schedule Measures<\/h2>\n\n\n\n<p>Earned Schedule (ES) can be used in conjunction with traditional EVM tools because they use the same values but provide indicators for different project elements: schedule and cost respectively. According to the official site of the ES tool, \u201c<a href=\"https:\/\/www.earnedschedule.com\/\">it can be used for detailed schedule analysis and that it has the potential to improve both cost and schedule prediction<\/a>.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"benefits\">Earned Schedule Benefits<\/h2>\n\n\n\n<p>PMP credential holders may find value in the <a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">PMI conference paper <em>The Earned Schedule<\/em><\/a>\u2019s listing of the benefits realized with the ES tool:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>uses existing EVM metrics to enhance the evaluation of project schedule performance<\/li><li>uses existing EVM metrics to forecast the duration needed to complete the project<\/li><li>provides additional schedule insights without the need for additional data collection or related cost.<\/li><li>uses the same underlying assumptions as EVM leading to consistent outcome forecasts<\/li><\/ul>\n\n\n\n<p>Note that Earned Schedule (ES) and the term earned schedule PMP, is not currently be found on the PMP Exam Content Outline (ECO). However, it is included in the <em>PMBOK\u00ae Guide<\/em> <a href=\"https:\/\/www.project-road.com\/blog\/2019\/7\/13\/earned-schedule\">6<sup>th<\/sup> edition with the heading \u201cTrends and Emerging Practices in Project Cost Management.\u201d <\/a>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"pmp-exam\">What to know for the PMP\u00ae certification exam<\/h2>\n\n\n\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Earned_schedule\">Earned Schedule is still deemed an \u201cemerging practice\u201d by PMI<\/a> yet there are tools and research to support it. To better understand the concept, know these core things:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It was introduced in <a href=\"https:\/\/en.wikipedia.org\/wiki\/Earned_schedule\">2003 in Walter Lipke\u2019s article &#8220;Schedule is Different,\u201d in the College of Performance Management\u2019s magazine The Measurable News<\/a><\/li><li>Earned Schedule is a measurement of performance against the project schedule and is an extension to Earned Value Management.<\/li><li>Traditional EVM uses cost metrics to articulate performance, but Earned Schedule helps track project progress when insights into cost may not be readily available or if a stakeholder wants more reporting focused on schedule variables.<\/li><li><a href=\"https:\/\/www.pmi.org\/learning\/library\/evm-cpm-evaluate-project-performance-6355\">ES does not replace EVM<\/a>. In fact, when used in conjunction with EVM, ES provides additional insights into the project schedule for better outcomes.<\/li><\/ul>\n\n\n\n<p>As there is not an \u201cearned schedule formula PMP,\u201d no exam questions will reference the concept, even at a high level or in relation to other schedule forecasting tools that are officially part of PMI best practices.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>Find the full ES toolset at <a href=\"http:\/\/www.earnedschedule.com\">www.earnedschedule.com<\/a>. Stakeholders, including executives, sponsors, project managers, project team members, and customers, seek reliable tools for managing project work from concept to plan to execution. Earned Value Management (EVM) is a methodology providing insights into scheduling and costs. Earned Schedule, ES, can use the same values as EVM to provide an additional layer of insight specifically into scheduling. As it is not officially adopted by PMI for the purposes of the PMP exam, project managers must use their best judgment before incorporating it into their toolbox.<\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<p style=\"font-size:25px\"><strong>Upcoming PMP Certification Training &#8211; Live &amp; Online Classes<\/strong><\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><table class=\"table table-striped table-bordered table-responsive-sm font-md mt-5 mb-0 d-none d-md-table\"><tr><td>Name<\/td><td>Date<\/td><td>Place<\/td><td><\/td><\/tr><\/table>\n<\/div><\/div>\n\n\n\n<p><\/p>\n<\/div><\/div>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator is-style-wide\"\/>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the project management profession, there is a movement in support of the Earned Schedule (ES) tool to provide performance metrics in terms of time instead of cost. ES is considered an alternative tool and as such, has not been fully adopted by the Project Management Institute (PMI) as of this writing nor is it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2863,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[35],"tags":[43],"class_list":["post-2852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pmp-formulas","tag-earned-value-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - 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