Course description
Earned Value Management: In-House Training: In-House Training
Earned Value Management (EVM) incorporates a set of proven practices appropriate for project or program management methodologies. These include integration of program scope, schedule, and cost objectives, establishment of a baseline plan for accomplishment of program objectives and use of earned value techniques for performance measurement during the execution of a program.
Earned Value Management (EVM) incorporates a set of proven practices appropriate for project or program management methodologies. These include integration of program scope, schedule, and cost objectives, establishment of a baseline plan for accomplishment of program objectives and use of earned value techniques for performance measurement during the execution of a program. EVM provides a solid platform for risk identification, corrective actions, and management re-planning as may be required over the life of a project or program.
The course emphasis is on the latest EVM principles and concepts in accordance with changes and guidelines for Earned Value Management in The Guide to the Project Management Body of Knowledge (PMBOK® Guide) and The Practice Standard for Earned Value Management published by the Project Management Institute.
Upcoming start dates
Outcome / Qualification etc.
What you Will Learn
You’ll learn how to:
- Develop a project baseline, using an effective WBS
- Record actual project performance
- Calculate EVM measures
- Evaluate project performance based on EVM measures
- Respond to project variances
- Integrate EVM and risk management
- Determine how EVM will add value to your organization
- Develop an EVM implementation plan for your organization
Training Course Content
Getting Started
- Introductions
- Course structure
- Course goals and objectives
- Expectations
Foundation Concepts
- Introduction to Earned Value Management (EVM)
- Benefits of EVM
- EVM Process Overview
- Applications of EVM
Creating a Work Breakdown Structure
- Reviewing WBS concepts
- Reviewing WBS development process (decomposition)
- Using a WBS to support EVM
Building a Project Baseline
- Defining a project baseline
- Developing a project baseline
- Using a project baseline
Recording Actuals
- Recording actuals overview
- Collecting data for actual project performance
- Determining earned value – various methods
EVM Performance Measures
- Using current status measures
- Using forecasting measures
- Analyzing EVM measures
EVM and Risk Management
- Integrating EVM and Risk Management
- Using EVM measures in the risk register
- Exploring how EVM can facilitate reserves management
- Drawing down contingency reserves
Responding to Variances
- Introduction to variances
- Process for responding to variances
- Response options
Reporting Project Performance
- EVM reporting overview
- Meeting EVM reporting needs
- Addressing EVM reporting challenges
Implementing an EVMS
- Defining EVMS requirements
- EVM for Agile projects
- Tailoring the EVMS
Summary and Next Steps
- Review of content
- Review of objectives / expectations
- Personal action plan
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