Earned Value Management (EVM)

  • 2 day(s)Duration
  • MDI1052Course Code
  • send to printer

Course description

The Earned Value Management (EVM) course teaches participants how to objectively measure project performance. Earned value management is critical to every project’s success.

Using interactive discussion, case studies, and exercises, this course teaches the skills and techniques to plan and manage any project utilizing the earned value management concepts. Participants are guided through the process for a complete understanding and leave with the ability to apply the techniques presented.

Who should attend

This course is designed for project managers, functional managers, business leaders, and mid-level managers.

What you will achieve

  • Evaluate performance against the baseline.
  • Accurately measure the physical work progress.
  • Establish rule of credit.
  • Estimate and anticipate cost/schedule performance.
  • Use EVM to control project.
  • Accurately relate cost, schedule, and deliverables.
  • Connect time-phased budgets to particular tasks and/or statements of work to generate a useful and accurate baseline.
  • Report performance issues.

What you will learn

Course Outline
Overview
  • What Is EVM
  • Understanding Projects and Project Management
  • Understanding EVM
  • Why Use EVM in the First Place
  • How to Make a Great Start
Fundamental of Earned Value Management
  • Descriptions of the Fundamental EVM Components
    • Planned Value
    • Earned Value
    • Actual Cost
  • Derivations of the Basic EVM Components
    • Planned Value
    • Earned Value Evaluation Techniques
    • Earned Value
    • Actual Cost
Establish a Performance Measurement Baseline
  • Decompose Work Scope to a Manageable Level
  • Allocate clear Management Responsibility
  • Derive Time-Phased Budget for Each Work Task
  • Choose Earned Value Measurement Techniques for All Tasks
  • Sustain Integrity of Performance Measurement Baseline Throughout the Project
  • Evaluate Performance Against the Baseline
  • Credit Earned Value Based on Earned Value Methods
  • Estimate and Anticipate Cost/Schedule Performance
  • How to Report Performance Issues
Managing and Controlling Projects with EVM
  • Measuring Earned Value from an Initial Baseline
  • Collecting Status Information
  • Calculating Earned Value
  • Analyzing Variance
  • Understanding and Calculating Variances
  • Setting Thresholds
  • Analyzing Out-of-Tolerance Variances
  • Using EVM for Project Monitoring and Control
  • Forecasting Final Project Costs
  • Impact of EVM Analysis on Cost-Reimbursable Projects
  • Fixed-Price Projects
EVM Performance Analysis and Forecasting
  • Schedule Analysis and Forecasting
    • Schedule Variance
    • Schedule Performance Index
    • Time Estimate at Completion
  • Cost Analysis and Forecasting
    • Cost Variance
    • Cost Performance Index
    • To-Complete Performance Index
    • Estimate at Completion
    • Variance at Completion
    • Estimate to Complete
  • Management by Exception