Earned Value is how much of your fee you have earned on a phase-by-phase basis. Here are the calculations for each phase billing format.
- Fixed Fee - Fee times percent complete.
- Hourly - Billable timeslip hours times the billing rate.
- Cost Plus - Billable timeslip hours times the staff pay rate with cost plus multipliers applied.
- Hourly NTE - Same as hourly but capped at the target fee.
- Cost Plus NTE - Same as Cost Plus but capped at the target fee.