Thresholds Page of the New Resource File Wizard
Use this page to define acceptable cost and schedule variances.
Cobra highlights a cost variance or a schedule variance that exceeds the predefined threshold. These thresholds, or tolerances, define how large cost variances (Earned Value - Actual Cost) and/or schedule variances (Earned Value - Budget) must be before Cobra triggers exception reporting mechanism.
Using thresholds is known as management by exception and is an efficient way to manage a project. Instead of micromanaging the entire project, you only focus on areas that exceed the predefined threshold.
Schedule Variance
A schedule variance is a metric for the schedule performance of a project. It is the algebraic difference between earned value and the budget (Schedule Variance = Earned Value - Budget). A positive value indicates a favorable condition while a negative value indicates an unfavorable condition.
Field | Description |
---|---|
Current Period | This field refers to the schedule variance for the current period. Use the
Favorable and
Unfavorable options to define tolerances for this field.
Attention: For more information, see
Threshold Options.
|
Cumulative | This field refers to the cumulative schedule variance. Use the
Favorable and
Unfavorable options to define tolerances for this field.
Attention: For more information, see
Threshold Options.
|
Cost Variance
A schedule variance is a metric for the schedule performance of a project. It is the algebraic difference between earned value and the budget (Schedule Variance = Earned Value - Budget). A positive value indicates a favorable condition while a negative value indicates an unfavorable condition.
Field | Description |
---|---|
Current Period | This field refers to the cost variance for the current period. Use the
Favorable and
Unfavorable options to define tolerances for this field.
Attention: For more information, see
Threshold Options.
|
Cumulative | This field refers to the cumulative cost variance. Use the
Favorable and
Unfavorable options to define tolerances for this field.
Attention: For more information, see
Threshold Options.
|
At Complete | This field refers to the cost variance at project completion. Use the
Favorable and
Unfavorable options to define tolerances for this field.
Attention: For more information, see
Threshold Options.
|
Threshold Options
Use the threshold options to define the threshold settings for the Schedule Variance and Cost Variance fields.
Value | Description |
---|---|
None | The code file does not use thresholds or tolerances. |
Percent | Cobra defines the schedule variance as a percentage amount. |
Value | Cobra defines the schedule variance as an absolute amount. |
Both | Cobra defines the schedule variance using both the percentage amount and the absolute value. |
Threshold Options
Value | Definition |
---|---|
None | The code file will not use thresholds or tolerances. |
Percent | Cobra will define the schedule variance as a percentage amount. |
Value | Cobra will define the schedule variance as an absolute amount. |
Both | Cobra will define the schedule variance using both the percentage amount and the absolute value. |