Fixed formula progress reporting and Weighted milestone Definitions Needed

Submitted by mickcalcara on Wed, 05/26/2010 - 11:52


Hi, I ran into the below two terms while taking the Crosswind Exam simulator.  Can someone provide me a good reference for definitions for the following two terms?

 

Fixed formula progress reporting and Weighted milestone method.

 

Thanks!

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Fri, 05/28/2010 - 06:21

Some explaination is already given in the answer on this page http://www.pmhub.net/files/Tips/Tip070315.html , just to add


Weighted milestones: Within long duration work packages, objective milestones are identified which will discretely identify the work completed. A budgeted value will be assigned to the milestone, to check its completion w.r.t earned value. The sum of all weighted milestones is equal to total work package.


Fixed forumla by task is something like this, 20/80, 50/50, 80/20, this is for shorter work packages and requires the work packages to be detailed enough to do this level of tracking. So first figure is earned when the task starts, then second is earned when its completed. Any set of values can be assigned.