Earned Value Management Course

Earned Value Management (EVM)

Course Program Duration: 2 Days
Cost: Available On Request
Program Material: Course Presentation Slides Electronically and Printed, EVM Calculator
PMI®  (PDU’s): 14

Course Overview:

We specialize in demonstrating how to use EVM to improve project control and not just to provide internal or external reporting.  

 

The central concepts of EVM are relatively simple. However, when organizations first implement the method, it often highlights, sometimes significant, issues or gaps in the project management processes, rather than producing valuable data.

 

Earned value management is a management methodology for integrating scope, schedule, and resources for objectively measuring project performance, progress and forecasting the project outcome.

 

The standard uses the term 'Project Scope' to mean the work that must be performed to deliver a product, service or result with the specified features and functions.

 

EVM can play a crucial role in answering management questions that are critical to the success of every project such as:

  • Are we delivering more or less work than planned?

  • When is the project likely to be completed?

  • Are we currently over or under budget?

  • What is the remaining work likely to cost?

  • What Is the entire project likely to cost?

  • How much will we be over or under budget at the end of the project?

  • What is driving the significant cost and/or schedule?

Target Group:
  • Project Administrators

  • Quantity Surveyors

  • Project Engineers

  • Project Managers

  • Project Planners/Schedulers

  • Project Controllers

  • Cost Engineers

  • Project Accountants

  • PMO Managers

Course Objectives:
  • Know precisely whether or not your projects are on the path to success.

  • Become distinguished for your ability to effectively plan, execute, control and lead projects in the right direction.

  • Demonstrate to stakeholders whether or not they are getting value for the money that they are spending.

  • Build your reputation in your company due to your ability to report, interpret and communicate the project’s true trajectory.

  • Boost your company/s overall competitiveness, Return on Investment (ROI) and chances of winning major projects.

Course Content:

Earned Value Management 2nd Edition Guide knowledge areas cover:

  • Introduction to EVM

  • Scope definition

  • WBS integration

  • Control account establishment

  • Scheduling and earned value project

  • Cost budgeting

  • Establishing the performance measurement baseline

  • EVM data collection

  • Actual costs

  • Progress measurement

  • Performance measurement

  • Cost & Schedule forecasting

  • Variance analysis

  • Baseline revisions and change control

  • Project Close-Out