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Spending money is easy; spending it on the right work at the right time is the trick. Earned value checks both.
Planned value is the baseline's cost spread over time; at the data date, the work that should be done. Earned value is the budget of the work actually done. Below the plan, SPI is under one: behind.
Actual cost is what that work really cost. Above earned value, CPI is under one: over budget. With no baseline, planned value falls back to the current plan, greyed: here, no SPI at all.
So pin one first: Schedule, Baselines. The active baseline supplies planned value for everything that follows. Resources, Cost summary: planned, earned, actual, the variances, both indexes, and the efficiency needed to finish on budget.
The header keeps the two that matter most in sight: CPI for cost, SPI for schedule. Details, Progress shows the same numbers for one activity, under its percent complete.
And in the Cashflow panel, EARLY BASE is the planned curve, drawn beside earned and actual.
That was earned value. Next in the Guide: usage, and what happens when one crew is booked twice.
Taken from the video’s English captions.