Home regulations far subpart 34 2 earned value management system.
Earned value management system far.
This far subpart states the federal policy that an earned value management system evms is required for major acquisitions for development in accordance with omb circular a 11.
In summary here are five basic ground rules for effective earned value management.
A the contracting officer shall insert a provision that is substantially the same as the provision at far 52 234 2 notice of earned value management system preaward integrated baseline review in solicitations for contracts that require the contractor to use an earned value management system evms and for which the government requires an.
1 use the provision at 252 234 7001 notice of earned value management system instead of the provisions at far 52 234 2 notice of earned value management system pre award ibr and far 52 234 3 notice of earned value management system post award ibr in the solicitation.
Earned value management system may 2011 a definitions.
Earned value management is a project management technique for measuring project performance and progress.
It has the ability to combine measurements of the project management triangle.
Scope time and costs.
As used in this clause acceptable earned value management system means an earned value management system that generally complies with system criteria in paragraph b of this clause.
The government may also require an evms for other acquisitions in accordance with agency procedures.
In a single integrated system earned value management is able to provide accurate forecasts of project performance problems which is an important contribution for project.
Far subpart 34 2 earned value management system.
If the contractor s current evms has not been determined compliant at the time of award see paragraph b.
As prescribed in 234 203 2 use the following clause.
2021 01 10 02 2020 download entire far html pdf.
The above presented formulas are the foundation to performing earned value analysis and utilizing an earned value management system.
A the contractor shall use an earned value management system evms that has been determined by the cognizant federal agency cfa to be compliant with the guidelines in electronic industries alliance standard 748 eia 748 current version at the time of award to manage this contract.
Organize the project team and the scope of work using a work breakdown structure.
