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Estimated team size needed to complete the targeted earned values at the targeted end date.
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Triggers the simulation based on the target end date and target estimated earned value units.
A black line will appear on the chart to indicate the simulated final cost at the targeted date.

Simulation formula:

Performing a Simulation

To perform a simulation, first specify a target end date and a targeted Earned Value (in terms of Earned Value Field units). Then hit the Simulate button to execute the simulation and get the results. Results can be removed by clicking the Clear button in the results panel. The following shows an example simulation and its results.

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Cost Simulator fields
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The Cost Simulator provides a rough estimate on:
what would be the final cost

The Cost Simulator is tool that allows you to experiment with various scenarios by letting you play with some of the project's parameters and see in real time what the impact might be on costs. It is accessible from Costs > Forecast, in the information panel located on the right-hand side of the screen. The Cost Simulator lets you play with:

  • The target end date of the project,
  • The target Earned Value

It then provides you rough estimates on:
  • the final cost of the project, 
  • the effort to deploy that would need to be deployed in man-days,
  • the ideal team size to achieve the targeted earned values on the targeted end date required. 

 

The simulation is Simulations are performed based on known information, such as:

  • the salary costs to date of a single earned value unit, 
  • the fixed, known cost in the future costs,
  • the average wage of the current team.

The Cost Simulator simulation results are shown in a box that appears underneath the Simulator and on the chart as a black line.

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Simulator
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Cost Simulator

 

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Image RemovedOnline information for the cost simulator.
Simulate Button
Image AddedInline help. Click to get more information about the Cost Simulator.
Target End Date

Targeted end date.

Must be greater or equals to the date of the simulation.

∑ "Earned Value units" (EV)

Targeted total of earned values  units at the targeted end date.

Must be greater than the completed earned values units

Simulation results fields
Final CostEstimated final cost at the targeted earned values at the targeted end date.
Effort to completeEstimated total man-days to complete the targeted earned values at the targeted end date.
Team sizeEstimated team size needed to complete the targeted earned values at the targeted end date.

Simulation results calculation

When launching the simulation, the following calculations are performed:

Note

Simulation results may differ from the projections based on the performance indexes. This is due to the fact that the Cost Simulator is making a distinction between the salary costs and other costs, by contrast to the EVM performance indices.

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titleFinal Cost

Final Cost = EVSC * Targeted Earned Values + All known fixed costs (non salary) at the Targeted date

WhereEVSC is the Earned Value Salary Cost of a single Earned Value unit to date.
It is computed by taking the sum of all salary costs to date divided by the completed Earned value units to date.

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titleEffort to complete

Effort to complete = SCr / current average team wage / Hours per working days  

Where SCr is the Remaining Salary Cost from the current date to the targeted date
It is computed by multiplying the  EVSC (see above) by the difference between the targeted Earned value units and the completed Earned value units to date.

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titleTeam Size

Team size = Effort to complete / Sum of working days between the current date and the targeted date

Note

The simulation results may differ from the projections based on the performance indexes.

This is due to the fact that the simulation is making a distinction between the salary cost and the fixed cost by contrast to the performance indexes computation.

Target End Date

Targeted end date.

Must be greater or equals to the date of the simulation.

∑ "Earned Value units" (EV)

Targeted total of earned values  units at the targeted end date.

Must be greater than the completed earned values units

ClearRemoves the simulation results and resets the chart to its original settings
Results
Final CostEstimated final cost at the targeted earned values at the targeted end date.
Effort to completeEstimated total man-days to complete the targeted earned values at the targeted end date.
Team size

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On this page:

Simulator Curve 

Cost Simulator

Panel

Related pages:

Folio Forecast

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