Curtiss-Wright's Earned Value Management System (EVMS) meets the intent of the Industry Guidelines for Earned Value Management Systems ANSI/EIA-748-98. The EVMS system uses the Integrated Master Plan (IMP) and Integrated Master Schedule (IMS) as its foundation. The IMP provides the integration of Statement of Work (SOW) tasking, traceable to the Work Breakdown Structure (WBS), identifying the programs Accomplishment Criteria to the program’s Significant Accomplishments required to meet the program Significant Events.
The IMS provides all tasks (in WBS form) time-phased and resource-loaded. The schedule is electronically integrated with our MPM costing tool, and yields the Performance Measurement Baseline (PMB).
With the establishment of this project baseline, the earned value (EV) method for each work package is established. Budgets are time-phased by task and by department with applicable earned value methods for each work package rolling up to Control Accounts, and then rolling to reporting elements in the Financial Report. A Control Account Manager (CAM) will be assigned at each Control Account level to ensure cost and schedule compliance. Microsoft Project is then utilized to update the IMS on a weekly basis with captured performance data. The use of EVMS provides for improved insight into the relationship between technical scope, cost, and schedule performance and early warnings of potential issues.
The EVMS tool also allows management thresholds to be established, to easily bring visibility to significant changes or trends in performance. This in turn, allows the Curtiss-Wright team to identify variances quickly and implement corrective actions, and maintain focus on cost and schedule performance.
On a weekly basis, each CAM provides updates to the IMS, including percent complete and expected start and completion dates by task. Cost and schedule reporting is performed in compliance with the contractual SOW and SDRL requirements. Weekly reporting includes updates to planned effort (Budgeted Cost of Work Scheduled - BCWS), effort performed (Budgeted Cost of Work Performed [BCWP]), and actual expenditures (Actual Cost of Work Performed [ACWP]), as well as information for internal labor and major subcontractors. Our EVMS tool supports all the standard cost reporting format reports. EVMS reporting provides Cost and Schedule Performance Indices (CPI/SPI) as well as cost and schedule variance reports that illustrate performance variances for both the current reporting period and for the program cumulative to date.