S3E65: Earned Schedule with creator Walter Lipke

In this episode, Dale and Val get into the geek speak, talking about an additional method to your Earned Value Management methodology. What you may not know is there is a time relative method called Earned Schedule. Val and Dale were fortunate to speak with the creator Walter Lipke and get his take on why this is a useful approach coupled with EVM and other methods to improve time adherence on projects.  In this week’s pod, we welcomed Walt Lipke, creator of the Earned Schedule technique used by projects throughout the USA, UK and Australia. Walt has 35 years of experience in the avionics industry. As well as being the creator of Earned Schedule, he has published over ninety articles. In 2017 the Australian Project Governance and Control Symposium honoured Walt by establishing the annual Walt Lipke Project Governance and Control Excellence Award. For more information on how to use Earned Schedule, visit https://www.earnedschedule.com/ During the pod, we discussed the following topics: Earned Schedule (ES) is effectively an extension to Earned Value Management. The most important development in ES is its ability to more accurately determine the completion date for projects that are behind schedule (or will deliver later than planned.) ES uses Earned Value (EV) performance data to generate the time-based information and uses very similar calculations to predict future performance. Earned Schedule can be used to “drill down” to identify where deficiencies or constraints may exist and where future rework may be needed if current performance does not change. EVM has three different curves: Planned Value, Earned Value and Actual Cost. Once the Earned Value information has been established, you can use Earned Schedule to calculate when this should have been achieved. Earned Value needs to be in place in order to generate Earned Schedule data It is possible to derive calculated project end dates using ES. Different confidence levels can be used to support this. ES is still a new concept, it was created in 2002