Synergy project performance and earned value management (EVM)
You can think of Synergy’s project performance feature as a visual alarm for all of your projects. You can quickly and easily see if your projects are in a good or bad way. But how does it work?
Synergy project performance is calculated using a method called earned value management (EVM). EVM was originally used by US federal agencies in the 1960s for increased accountability and transparency. It’s still widely used today.
In simple terms, EVM combines measurements of the project’s scope, time and cost, to calculate the overall health of the project. It answers two important questions:
- When will the project be finished?
- What will the project end up costing?
Note: You need to have a budget and schedule set up for your project, for the Synergy project performance feature to work.
Synergy performance ‘widget’
Synergy project performance provides you with a high-level overview of the performance of your projects. You can also dive into the progress stats for individual projects by clicking on the stars.
The performance widget on the project performance page shows you where you are now versus what you had planned for your project. It does this at a stage, phase and project level, using a sliding scale.
Your project’s progress is based on a combination of things — current date, budget spent, and actual work completed, as estimated by your project manager.
If you click on the project itself, it opens a sidebar with all the information related to the project. The visuals at the top of the sidebar show you expected cost of completion and estimated completion date (and, at current rate, how much you will be under or over budget, and how early or late you will complete the project).
Find out more about how Synergy project performance can help you monitor your architecture, engineering and construction design projects more efficiently and effectively: