But only BAC value is successfully populated, and the other baseline attributes (such as Cost variance, BCWS, BCWP etc.,) are not populated in the baseline for the project.We have to select the "update baseline" action to update the baseline attributes successfully (which inturn is running the "update earned value cost totals" job for th project).Building a good plan is not nearly as hard as keeping that plan on track after reality sets in and starts taking your wonderful plan apart.
Tracking your project and ensuring that it stays on target are the real guts of project management.
It provides assistance to project managers and coordinators by organizing plans, resources, tasks, budgets, workloads and much more, all while keeping track of a project's overall progress from start to finish.
Knowledge of Microsoft Project can be an invaluable tool for anyone whose work requires the orchestration of long-term projects and plans.
This is the first element of earned value management.
Planned Value is the approved value of the work to be completed in a given time.