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AS 21512:2025

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AS 21512:2025

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Project, programme and portfolio management – Earned value management implementation guidance (ISO 21512:2024, MOD)

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AS 21512:2025 adopts and modifies ISO 21512:2024, which specifies guidance and examples for establishing, implementing and maintaining an earned value management system based on AS 4817:2019

Table of contents
Header
About this publication
Preface
Foreword
Introduction
1 Scope
2 Normative references
3 Terms, definitions and abbreviated terms
3.1 Terms and definitions
3.2 Abbreviated terms
4 Overview of earned value management
4.1 Overview
4.2 Earned value management
4.3 Purpose and benefits of earned value management
4.3.1
4.3.2
4.3.3
4.4 Initiation considerations for an earned value management system
4.4.1
4.4.2
4.5 Earned value management planning
4.5.1
4.5.2
4.6 Using earned value measurements and performance metrics
4.6.1
4.6.2
4.6.3
4.6.4
4.6.5
5 Implementation of the earned value management process steps
5.1 Overview
5.2 Step 1: Decompose the project or programme scope
5.2.1 Introduction
5.2.2 Context
5.2.3 Work breakdown structure creation
5.2.4 Decomposition
5.2.5 100 % rule
5.2.6 Description of the project or programme work breakdown structure elements
5.2.7 Hierarchical decomposition
5.2.8 Project and programme relationship
5.2.9 Progressive elaboration
5.2.10 Characteristics of a work breakdown structure
5.3 Step 2: Assign responsibility
5.3.1 General
5.3.2 Work assignment
5.3.3 Assigning responsibility during work breakdown structure decomposition
5.3.4 Description of the project or programme assignment of responsibility
5.3.5 Work packages
5.4 Step 3: Schedule the work
5.4.1 General
5.4.2 Planning the work
5.4.3 Identification activities
5.4.4 Durations
5.4.5 Milestones
5.4.6 Interdependencies
5.4.7 Schedule validity
5.4.7.1
5.4.7.2
5.5 Step 4: Develop a time-phased budget
5.5.1 Overview
5.5.2 Concepts and considerations
5.5.2.1 General
5.5.2.2 Resource use
5.5.2.3 Economic valuation of the project or programme work
5.5.2.4 Progressive elaboration
5.5.2.5 Establishment of a residual risk position
5.5.2.6 Subcontract work
5.5.2.7 Cost estimating and budgeting
5.6 Step 5: Assign objective measures of performance
5.6.1 General
5.6.1.1
5.6.1.2
5.6.1.3
5.6.2 Earned value techniques — Description, advantages and disadvantages
5.6.2.1 General
5.6.2.2 0/100 method
5.6.2.2.1 General
5.6.2.2.2 Advantages
5.6.2.2.3 Disadvantages
5.6.2.3 Units complete or equivalent units
5.6.2.3.1 General
5.6.2.3.2 Advantages
5.6.2.3.3 Disadvantages
5.6.2.4 Earned standards
5.6.2.4.1 General
5.6.2.4.2 Advantages
5.6.2.4.3 Disadvantages
5.6.2.5 Formula method
5.6.2.5.1 General
5.6.2.5.2 Advantages
5.6.2.5.3 Disadvantages
5.6.2.6 Milestones complete
5.6.2.6.1 General
5.6.2.6.2 Advantages
5.6.2.6.3 Disadvantages
5.6.2.7 Start/finish method
5.6.2.7.1 General
5.6.2.7.2 Advantages
5.6.2.7.3 Disadvantages
5.6.2.8 Estimate or percentage complete
5.6.2.8.1 General
5.6.2.8.2 Advantages
5.6.2.8.3 Disadvantages
5.6.2.9 Level of effort
5.6.2.9.1 General
5.6.2.9.2 Disadvantages
5.6.2.10 Apportioned effort
5.6.2.11 Earned value types for material items
5.7 Step 6: Set the performance measurement baseline
5.7.1 Overview
5.7.2 Management responsibility
5.7.3 Control period
5.8 Step 7: Authorize and perform the work
5.8.1
5.8.2
5.8.3
5.9 Step 8: Accumulate and report performance data
5.9.1 Overview
5.9.2 Control periods
5.9.2.1
5.9.2.2
5.9.3 Scope performance indices
5.9.4 Schedule performance indices
5.9.5 Cost performance indices
5.9.6 Performance analysis data points
5.10 Step 9: Analyse performance data
5.10.1 Overview
5.10.2 Key questions
5.10.3 Timeliness of information
5.10.4 Data analysis steps
5.10.5 Data validity checks
5.10.5.1
5.10.5.2
5.10.5.3
5.10.6 Review variances and analyse trend data
5.10.6.1
5.10.6.2
5.10.6.3
5.10.6.4
5.10.6.5
5.10.6.6
5.10.7 Review comparative data
5.10.7.1
5.10.7.2
5.10.7.3
5.11 Step 10: Take management action
5.11.1 General
5.11.2 Types of management actions
5.11.2.1
5.11.2.2
5.11.3 Decision-making
5.11.4 Lessons learned
5.12 Step 11: Maintain the baseline
5.12.1 General
5.12.2 Context
5.12.3 Baseline plan
5.12.4 Change order process for maintenance of baseline
5.12.4.1 General
5.12.4.2 Change identification
5.12.4.3 Documentation
5.12.4.4 Evaluation
5.12.4.5 Approval
5.12.4.6 Rejected baseline change proposals
5.12.4.7 Incorporation
6 Implementation of earned value management system reviews
6.1 Overview
6.2 Demonstration review
6.3 Surveillance review
6.3.1
6.3.2
7 Cost and schedule performance measurement analysis using earned value management data
7.1 Overview
7.2 Performance measurement indicators and predictors
7.3 Cost and schedule performance measurement scenarios
7.4 Benefits of performance measurement analysis
7.4.1 General
7.4.2 Variance analysis
7.4.3 Estimate at completion
7.4.4 Using the to complete cost performance index to assess the feasibility of the project or programme plan
7.4.5 Evaluation of trends
7.4.5.1
7.4.5.2
7.4.5.3
7.4.5.4
8 Earned schedule implementation
8.1 Overview
8.2 Performance measurement metrics, indicators and predictors
8.3 Earned schedule performance measurement scenarios
8.3.1 General
8.3.2 Earned schedule burndown with on time start, late finish
8.3.3 Schedule variance (time) with on time start, early finish
8.3.4 Schedule performance index (time) with late start, late finish
8.3.5 Independent estimate at completion (time) and variances with late start, on time finish
8.3.6 To complete schedule performance index with on time start, late finish
8.4 Benefits of schedule performance measurement analysis
8.4.1 General
8.4.2 Variance analysis
8.4.3 Organizational design
8.4.4 Data quality assurance
8.4.5 Variance analysis, and project or programme manager’s estimate at completion (time)
8.4.6 Assessment of the indicators and predictors against thresholds
8.4.6.1 Earned schedule burndown rate accomplished
8.4.6.2 Schedule variance (time) and schedule performance index (time)
8.4.6.3 Independent estimate at completion (time)
8.4.6.4 To complete schedule performance index
8.4.6.5 Variance use: Separate or together
8.5 Trend analysis
8.5.1 General
8.5.2 Magnitude of trend and threshold
8.5.3 Direction of the trend and threshold with the to complete schedule performance index
9 Integrating other project or programme management practices
9.1 Integration of risk management
9.1.1 Overview
9.1.2 Project or programme risk context
9.1.3 Intersections between risk management and earned value management processes
9.1.4 Risk management during project or programme planning
9.1.4.1 General
9.1.4.2 Step 1: Decompose the project or programme scope
9.1.4.3 Step 2: Assign responsibility
9.1.4.4 Step 3: Schedule the work
9.1.4.5 Step 4: Develop the time-phased budget
9.1.4.6 Step 5: Assign objective performance measures of performance
9.1.4.7 Step 6: Set the performance measurement baseline
9.1.4.8 Step 6a: Set management reserve
9.1.4.9 Step 8: Accumulate and report performance data
9.1.4.10 Step 9: Analyse performance data
9.1.4.10.1
9.1.4.10.2
9.1.4.10.3
9.1.4.10.4
9.1.4.10.5
9.1.4.11 Step 10: Take management action
9.1.4.12 Step 11: Maintain the baseline and management reserve
9.2 Integrating earned schedule with the critical path
9.2.1 General
9.2.2 Process steps
9.2.3 Cyclical process
9.2.3.1 General
9.2.3.2 Set the project baseline and identify critical path
9.2.4 Collect periodic performance data
9.2.5 Proposed recovery action for the critical path
9.3 Integrating critical chain scheduling
9.3.1 General
9.3.2 Benefits of adopting and integrated critical chain project management and earned value management approach
9.3.3 Critical chain scheduling process
9.3.3.1 General
9.3.3.2 Step 1: Create the as late as possible project or programme network
9.3.3.3 Step 2: Identify the resource constraints
9.3.3.4 Step 3: Identify the critical chain
9.3.3.5 Step 4: Subordinate other activities, resources and network paths to the critical chain
9.3.3.6 Step 5: Baseline the project schedule and inform stakeholders
9.3.4 Critical chain and earned value management control
9.3.4.1 General
9.3.4.2 Step 1: Quantifying the earned value management costs and schedule of the buffers
9.3.4.3 Step 2: Calculate the earned value management performance of the buffers
9.3.4.4 Step 3: Estimate the earned value management performance impacts of the buffers
9.4 Integrating earned schedule
9.5 Integrating agile development
9.5.1
9.5.2
9.5.3
9.5.4
9.5.5
9.5.6
9.5.7
9.5.8
9.5.9
9.5.10
9.5.11
9.5.12
9.6 Integrating project or programme management office
9.6.1 General
9.6.2 Activities of a project or programme management office
9.6.3 Benefits of a project or programme management office
9.7 Integrating continuous improvement
9.7.1 General
9.7.2 Continuous improvement
9.7.3 Types of continuous improvement processes and methodologies
9.7.3.1 General
9.7.3.2 Measurable
9.7.3.3 Continuous
9.7.4 Core continuous improvement functions aligned with earned value
9.8 Integrating governance
Annex A
A.1 Scope approval
A.2 Step 1: Decomposition of the project or programme scope
A.3 Step 2: Assign responsibility for project work
A.4 Step 3: Schedule the work
A.5 Step 4: Develop time-phased budget
A.5.1
A.5.2
A.5.3
A.5.4
A.6 Step 5: Assign objective measures of performance
A.6.1 General
A.6.2 Milestones complete
A.6.3 Estimate or percentage complete
A.6.4 Units complete or equivalent units
A.6.5 Apportioned effort
A.6.6 Level of effort
A.7 Step 6: Set the performance measurement baseline
A.8 Step 7: Authorise and perform the work
A.8.1
A.8.2
A.8.3
A.9 Step 8: Accumulate and report performance indices
A.10 Step 9: Analyse project performance
A.10.1
A.10.2
A.10.3
A.10.4
A.10.5
A.10.6
A.10.7
A.11 Step 10: Take management action
A.11.1 Inputs to take corrective action to manage the project
A.11.2 Activities in taking corrective actions to manage the project
A.11.3 Outputs from take corrective action to manage the project
A.12 Step 11: Maintain the baseline and management reserve
A.12.1 General
A.12.2 Original baseline plan left out some work elements
A.12.3 Realized risks or identified risks which will not occur
A.12.4 Original estimates for the budget and duration require updates
A.12.5 Actual changes to the project or programme from the stakeholder
A.12.6 Work late and costing more
A.12.7 Inputs to maintaining the performance measurement baseline
A.12.8 Activities for maintaining the performance measurement baseline
A.12.9 Outputs from maintaining the performance measurement baseline
Annex B
B.1 Overview
B.2 Review timing
B.3 Integrated baseline review process summary
B.3.1 General
B.3.2 Pre-integrated baseline review
B.3.3 Preparation
B.3.4 Implementation
B.3.5 Post review
B.4 Pre-integrated baseline review
B.4.1 Decision to hold an integrated baseline review
B.4.2 Agreed objectives and acceptance criteria
B.4.2.1
B.4.2.2
B.5 Preparation
B.5.1 Identify teams
B.5.2 Responsibilities
B.5.3 Team composition
B.5.4 Produce a draft integrated baseline review handbook
B.5.5 Train teams
B.5.5.1 General
B.5.5.2 Review team training
B.5.5.3 Joint project and review team training
B.5.5.4 Project or programme team training
B.5.6 Practice of the integrated baseline review
B.5.7 Define and agree to a schedule
B.5.7.1
B.5.7.2
B.5.8 Administration
B.5.9 Production of final integrated baseline review handbook
B.5.10 Collation and delivery of integrated baseline review deliverables
B.6 Implementation
B.6.1 General
B.6.2 Brief and launch
B.6.3 Data traces
B.6.4 Control account, project and programme manager discussions
B.6.4.1 General
B.6.4.1.1
B.6.4.1.2
B.6.4.1.3
B.6.4.1.4
B.6.4.2 Discussion guidance
B.6.4.3 Collate write-up
B.6.5 Feedback sessions or issue board
B.6.6 Review closure
B.7 Post review
B.7.1 Corrective action plan
B.7.2 Post review feedback
B.7.3 Joint surveillance
Bibliography
Appendix ZZ
ZZ.1 Scope
ZZ.2 Modifications

Cited references in this standard
Content history
DR AS 21512:2024

Please select a variation to view its description.

Published

17/01/2025
Pages

146

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AS 21512:2025
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