Milestone (hours)

Milestones are linked to the activity and a percentage or amount of the budget is assigned to each milestone. When a milestone is reached, the assigned budget is released.

  • Planned Value

    Budget hours are released based on these percentages or hours during the scheduled start date and scheduled end date period, respectively (based on the last approved baseline).

    Note: At least one milestone must be linked to the activity to view the Planned Value/Time Phased Budget in PCL.
  • Earned Value

    Earned values are assigned during the period of actual completion of a milestone (as defined in the Milestones(tppss2101m000) session.

Example

  • Activity approved Baseline Scheduled Start Date: January 1, 2015
  • Activity approved Baseline Scheduled End Date: March 21, 2015
  • Budgeted Hours: 10000 hours
  • This activity is linked to Milestone M1 and M2
  • M1 (Approved Baseline Scheduled Completion Date) = February 12, 2015
  • M2 (Approved Baseline Scheduled Completion Date) = March 21, 2015
  • Number of Hours assigned to M1 = 4000 hours
  • Number of Hours assigned to M2 = 6000 hours
  • Time Phase Budget in Period 1 (January 2015) = 0 hours
  • Time Phase Budget in Period 2 (February 2015) = 4000 hours
  • Time Phase Budget in Period 2 (March 2015) = 6000 hours

If the milestone M1 is completed in February 2015, Earned Value for February = 4000 hours

If the actual hours incurred in January 2015 is 3300 hours:

  • Hours Variance = 4000 – 3300 = 700 hours
  • Schedule Variance = 4000 – 3875 = 125 hours