Earned Value Management

​Earned value management is an effective tehnique for controlling and measuring project outcomes in a world where projects are characterised by cost and time constraints making it challenging to reconcile actual project or program time and cost with the agreed upon baselines. Earned Value Management is considered as one of the most effective ways to manage cost and time variances by providing a clear and realistic picture of the current status, while highlighting the areas that need attention. The aim of this 2 day event is to equip managers with techniques to effectively track the performance of the project against the relevant baselines, identify variances and take corrective actions. 
Who should attend?
  • Project managers
  • Project planning/estimating staff
  • Project analysts
  • Project/Cost Engineers
  • Contract administrators
  • Program/Portfolio managers
Benefits of attending
  • Learn how to use EVM to control and measure your project.
  • Enhance tracking, monitoring and project and financial management skills.
  • Utilise EVM as an early warning system that allows the timely identification and analysis of progress and cost issues and corrective actions to identified deviations.
  • Provide Stakeholders with realistic and concise reporting.
Agenda day 1
Session 1:  Overview of Earned value management and how it fits into project management
  • Discussing the history and evolution of earned value discipline
  • Purpose of EVM and its applicability in projects
  •  Positioning earned value concept in project management
  • Cost and schedule variance criteria and indices.
  • Appreciating the earned value system criteria
Session 2:  Uncovering project scope and organization management
  • Understanding the project work scope  
  • Product vs project scope
  • Work  break down  structure ( WBS) in relation to EVM
  • Creating an organizational breakdown structure (OBS)
Session 3: Planning and scheduling the budget using EVM concept
  • Ascertaining the project objective
  • Discussing what needs to be planned , the timing and individuals involved
  • Planning the project
  • Scheduling and budgeting processes using EVM principles
Session 4: Estimating and budgeting resources for Control Account Plans (CAP s)
  • Explaining the concept of CAP’s and their central role in EVM
  • Exploring Earned value CAP’s
  • Discussing the methods that are used to plan and measure earned value
  • Focusing on contingency and management reserves within earned value
 
Practical exercises for delegates
Agenda day 2
 
Session5: Creating and setting EV measurement baseline
  • Establishing the project measurement baseline (PMB)
  • Determining how work is defined and organized under PMB
  • Managing changes in scope
 
Session 6: Forecasting final cost and schedule results
  • Highlighting the factors determining project results
  • Calculating the Estimate At Completion (EAC)
  • Effectively managing the project portfolio using EVM technique
  • Determining the Over the Target Baseline (OTB)
  •  forecasting the project time duration
  • To completion performance index (TCPI)
Session 7:  Monitoring project performance against baseline
  • Measuring progress
  • Calculating EV variances and indices
  • Understanding the differences between schedule and EV progress
  • Using CAPs  ( Control Account Plans) performance measurement
 
 
Session8:  Exploring into effective earned value management reporting
  • Discussing the EVM reporting formats
  • Interpreting cost and schedule reports
  • Project reviews
  • Interpreting  EV charts and reports
Prerequisites:
Delegates must understand the basic principles of project management and must  have experience in managing projects.

Duration and material:
  • Course duration:- two days (14 hours) classroom format instructor-led training in a relaxed learning environment allowing for real-time feedback, questions and answers, and practical exercises.
  • Student manual provided.
Please contact training@pmta.co.za for more information or a quotation.