plannedexpected

Plannedexpected is a conceptual metric used in planning and forecasting to assess how well a planned activity’s resource allocation aligns with the forecasted value or outcome of that activity. It combines two core quantities commonly found in project evaluation: planned value (PV), representing the budgeted effort or resources, and expected value (EV), representing the probabilistic forecast of payoff or benefit. When used, plannedexpected is typically computed as a weighted, normalized score that reflects both inputs on a common scale.

The typical formulation involves normalizing PV and EV to a common range and then combining them with weights that reflect organizational priorities. A common approach is PE = w1 * (PV / max_PV) + w2 * (EV / max_EV), where w1 and w2 are nonnegative weights that sum to 1, and max_PV and max_EV are reference maxima for the planning context. Different organizations may choose alternative normalization bases or incorporate additional adjustments for risk or timing.

Applications of plannedexpected include project portfolio prioritization, budgeting decisions, and performance monitoring. It provides a simple, aggregate view of how plans are expected to translate into value, enabling comparisons across tasks with different scales. However, plannedexpected has limitations: it depends on the quality of PV and EV estimates, the choice of normalization, and weight settings; it may mask underlying risks if used in isolation.

See also: Earned value management, Expected monetary value, Forecasting, Risk assessment.