Original Date: 04/20/1998
Revision Date: 01/18/2007
Information : Earned Value Management System
In a cooperative effort with various government agencies, ITT Aerospace/Communications Division (A/CD) developed and implemented the Earned Value Management System (EVMS). This management control system is used for current and future Research Development Test and Engineering and production contracts that are valued at more than $500,000. Previously, ITT A/CD relied on traditional cost and schedule analysis systems such as cost schedule status reports or cost performance reports.
ITT A/CD’s cost account managers are responsible for determining the technical schedule and budget performances, and establishing the initial performance measurement baseline. The EVMS provides managers with the tools to collect, accumulate, and compare actual cost, schedule, and technical performances against a plan. Based on the data, the managers can make decisions that deliver the best value to the customer. Unlike most cost and schedule analysis systems, the EVMS provides an objective measure of how much work has been accomplished based on the planned value of work for a specific time period. The system also measures program accomplishments as well as resources used. Managers conduct earned value performance measurements each month, and generate new program completion dates every three to six months.
As a result of implementing the EVMS, ITT A/CD now has a universal system approved by all customers which links its schedule and cost reporting systems. In addition, the EVMS provides flexible formats for standard computer tools; generates data quickly; controls the level of effort activity through time phased budgets; and handles internal and customer tracking.
For more information see the
Point of Contact for this survey.