Reporting Earned Value vs Planned Value for SPI Metrics
Good afternoon everyone,
I'm new to the SmartSheet community, but my company and I have been integrating SS into our PM work processes for about 1.5 years. We're a VOSB DOD contractor, and we use SS to create simple project schedules that include start/end dates, duration, dependencies, and % complete. We do not resource load (no labor hours/employee or $$ values for ODCs & materials).
My challenge now is to take simple project schedules and use them to track and report % complete in terms of EV vs. PV to generate a basic schedule performance index (SPI) for primary project milestones ("parent tasks").
I'd like our SS project schedules to include columns that calculate EV, PV and display schedule variance for a given report date.
I've come up with a formula in Excel that produces the desired metrics, but I'm curious to know if SS has a "canned" formula solution. If not I'd like to know how others may have handled such a requirement.