Introduction to Earned Value Management (EVM) Course
Earned Value Management (EVM) is a strategic project planning and control technique that equips professionals with the skills to assess cost and schedule performance.
The earned value management (EVM) course is a critical tool for a comprehensive view of the project progress relative to budget, enabling projections of future performance trends and allowing for early corrective actions in response to undesirable variances.
EVM is a pivotal concept for efficiently managing complex projects, whether in a private sector, commercial, or government setting. This earned value management (EVM) course is essential for those keen on mastering and learning earned value management techniques.
Earned Value Management (EVM) System Certification and Training
EVM system training and certification are critical for those who aspire to be at the forefront of project performance measurement. This earned value management course incorporates an in-depth understanding of the earned value and how to measure project performance, positioning you as a proficient practitioner upon completion. Earned value management certification will validate your expertise and enhance your credibility in project management.
Targeted Groups
- Project managers.
- Project controllers.
- Cost controllers.
- Finance professionals.
- Team leaders.
- Project technical staff.
- Project sponsors/owners.
Course Objectives
Participants in the earned value management course will gain mastery in:
- Understanding and applying an effective earned value management system to manage projects.
- Utilizing earned value management tools for superior project performance management.
- Collaborating with stakeholders to outline objectives and devise actionable project plans.
- Making agile project decisions within scope, cost, and schedule with greater assurance.
- Monitoring project workloads, scheduling, and financials while delegating tasks effectively.
- Anticipating project risks proactively, thereby mitigating them early with EVM measurement techniques.
Targeted Competencies
At the end of this EVM course, the participants will be able to develop ability:
- Earned value management techniques.
- Budget analysis and project value management.
- Life cycle costing within the project management framework.
- Application of earned value management tools.
Course Content
Unit 1: Introduction to Earned Value Management (EVM)
- Management criteria versus engineering criteria.
- Evolution of the Earned Value Management (EVM) concept.
- The Cost/Schedule Control System Criteria (C/SCSC).
- The EVM System Criteria.
- Performance measurement with EVM technique tools.
- EVM in project management.
Unit 2: Scope of The Project
- Grasping the project work scope.
- Work Breakdown Structure (WBS) and its role in EVM.
- Make-or-buy decisions.
- Integration of WBS in Earned Value Analysis.
Unit 3: Plan and Schedule The Project
- Clarifying project objectives.
- Planning with precision.
- Scheduling techniques in EVM.
- Scheduling and its influence on Earned Value.
Unit 4: Estimate and Budget Project Resources to Form Control Account Plans (CAPs)
- Aligning project scope with cost and schedule.
- Earned value CAPs alignment.
- Cost estimations and budgeting.
- Management reserves in EVM.
Unit 5: Establish The Earned Value Project Baseline
- Planning and measuring earned value techniques.
- Development of Control Account Plans (CAPs).
- The Performance Measurement Baseline (PMB).
- Baseline management and scope changes.
Unit 6: Monitoring Performance Against the Baseline
- Caps performance assessment.
- Project management presentations.
- Cost and schedule variances in EVM.
- Role of materials and subcontracts in earned value.
Unit 7: Final Cost and Schedule Forecasting
- Factors affecting forecasts.
- Methodologies for cost and schedule results.
- Management reserve vs. contingency reserve.
- Estimating at Completion (EAC).
- Over-Target Baseline (OTB) process.
- Predicting the project’s time duration.
Unit 8: EVM Reporting
- Reporting from subcontractors.
- Integrated cost/schedule report analysis.
- EVM reporting formats and interpretation.
