Managing project costs in Jira can be a challenging task. Project managers often ask:
Without clear data, projects risk budget overruns, missed deadlines, and frustrated stakeholders.
This is where Earned Value Management (EVM) comes in. It’s a proven project management methodology that integrates scope, schedule, and cost data to provide accurate insights into project performance. With the help of Jira apps like Time & Cost Tracker for Jira, EVM reporting becomes simple and actionable.
"Are we going to be over budget?"
→ The Cost Performance Index (CPI) shows whether spending is aligned with expectations.
"Will we deliver on time?"
→ The Schedule Performance Index (SPI) highlights potential delays or early completions.
"What’s the final cost likely to be?"
→ The Estimate at Completion (EAC) offers a realistic forecast based on current performance.
With Time & Cost Tracker, project managers can create cost reports and export them into an EVM Excel template for in-depth analysis.
Step 1 — Install the app.
Step 2 — Log work hours and expenses for accurate data.
Step 3 — Generate a Cost Report
Step 3 — Open the downloaded file to analyze the EVM report.
Metric |
Meaning |
Start Date & End Date |
Defines the reporting period (e.g., week, month, quarter). |
Planned Value (PV) |
Budgeted cost of work scheduled to be completed in a specific period. |
Cumulative Planned Value (CPV) |
Sum of all PV values from the start of the project to now. |
Earned Value (EV) |
Value of work actually completed during a period. |
Cumulative Earned Value (CEV) |
Sum of all EV values to date. |
Actual Cost (AC) |
Actual money spent in a reporting period. |
Cumulative Actual Cost (CAC) |
Total AC from project start to now. |
Cost Variance (CV = EV – AC) |
Positive CV = under budget; Negative CV = over budget. |
Cost Performance Index (CPI = EV ÷ AC) |
CPI = 1 on track, > 1 under budget, < 1 over budget. |
Schedule Variance (SV = EV – PV) |
Positive SV = ahead of schedule; Negative SV = behind. |
Schedule Performance Index (SPI = EV ÷ PV) |
SPI = 1 on track, > 1 ahead, < 1 behind schedule. |
Estimate at Completion (EAC) |
Forecast of total project cost. |
Estimate to Complete (ETC) |
Remaining budget required. |
Variance at Completion (VAC = Budget – EAC) |
Difference between budget and projected final cost. |
To-Complete Performance Index (TCPI) |
Efficiency rate needed to complete on budget. |
Actual Completed & Cumulative Completed |
Tracks work completed per period and cumulatively. |
✅ Early Warning System – detect overruns or delays before they escalate.
✅ Data-Driven Decisions – adjust timelines or resources with confidence.
✅ Progress Tracking – compare actual vs. planned performance.
✅ Transparent Reporting – share clear insights with stakeholders.
Imagine a project report shows:
With this insight, a project manager can re-prioritize tasks, adjust resources, and realign the project with financial goals.
By combining accurate time logs, expense data, and reporting, Time & Cost Tracker makes Earned Value Management in Jira practical, fast, and actionable.
EVM transforms raw project data into actionable insights. When paired with Jira and Time & Cost Tracker, it gives project managers the tools to:
👉 If you want to stay on time and on budget, leveraging Earned Value Management in Jira with the right app could be the next step for your team.
🔍 Want to see how it works for your setup? Book a live demo
📅 Try Time & Cost Tracker for Jira Cloud on the Atlassian Marketplace
Anastasiia Maliei SaaSJet
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