34 6. REPORTING PROGRAM PROGRESS After establishing a potential resiliency program objective, how a resiliency program can support the pursuit of the objective, how to create a resiliency program, developing the resiliency program plan, obtaining approval, and implementation, the next step in the Utility Infrastructure Resiliency Playbook (Playbook) is reporting program progress. This step is critical to ensuring the week-to-week, month-to-month, and year-to-year progress is on target and the success and prudence of the program are demonstrable. Earned Value Analysis A superior method of overall progress reporting that incorporates week-to-week, month-to-month, and year-to-year presentation is Earned Value Analysis (EVA). To implement this method requires the initial development of a detailed budget, an accurate schedule, and an ability to accurately forecast future construction cost. When utilized, EVA presents a Cost Performance Index (CPI) and Schedule Performance Index (SPI) to assist in determining if a long-duration construction effort is on target (Exhibit 6.1). There are a host of published tools that can be accessed to assist with the development of an Earned Value Analysis technique. Exhibit 6.1 Earned Value Analysis (EVA) Progress Reporting Technique Example reporting of EVA performance using CPI and SPI Earned Value Interpretation Earned Value EV Value of the work actually completed on the activity or project in the given time period. Actual Cost AC Actual cost on the activity or total project in the given time period. Planned Value PV Budgeted cost for the work scheduled to be completed on an activity or total project in the given time period. Cost Performance Index CPI = EV / AC Value < 1.0 indicates a cost overrun, Value > 1.0 a cost underrun Schedule Performance Index SPI = EV / PV Value < 1.0 a late condition, Value > 1.0 ahead of schedule condition Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6 EV 100.0 120.0 100.0 100.0 120.0 100.0 AC 100.0 100.0 100.0 120.0 120.0 120.0 PV 100.0 100.0 120.0 100.0 100.0 120.0 CPI 1.000 1.200 1.000 0.833 1.000 0.833 SPI 1.000 1.200 0.833 1.000 1.200 0.833 On Budget Below Budget On Budget Over Budget On Budget Over Budget On Schedule Ahead of Schedule Behind Schedule On Schedule Ahead of Schedule Behind Schedule The Meaning: Detailed below are 6 example scenarios to support interpretation of the resulting CPI and SPI given example EV, AC, and PV figures. i.e. Scenario 1 depicts accumulated EV of $100 over a given time period, accumulated AC of $100 over the same given time period, and accumulated PV of $100 over the same given time period. Essentially, scenario 1 presents a project that is being built for exactly the dollar and scheduled time planned or budgeted.
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