Earned Value Management Training Bootcamp

Earned Value Management Training Bootcamp

Earned Value Management Training Bootcamp Course Description

Earned Value Management Training Bootcamp helps you interpret the meaning behind the data, identify potential expenses, define proper schedule, use the proper tools and techniques to compare actual work accomplished against baseline schedules and cost, and finally determine early warning signs to receive effective understanding into potential risk areas to plan ahead.

Recognize what must be done to successfully implement and use earned value management in your organization to evaluate internal and contractor performance. Earned Value Management Training Bootcamp teaches you how to use Earned value management (EVM) as a powerful tool for managing big, critical projects and programs. You will be introduced to project management best practices.

As obligated by the U.S. government’s Office of Management and Budget (OMB), earned value management is a critical factor of capital planning and investment control. If applied properly, earned value enables organizations to track the project plan, actual work, and work-completed value to identify if the project is on-track. Earned value monitors how much budget and time should have been spent compared to the amount of work completed.

TONEX Bootcamp Features

• It’s fun, interactive, and dynamic
• It’s combined of theory and practice
• The theoretical part is delivered in the form of communicating presentations
• The practical section include labs, individual/small group activities, and hands-on workshops
• Participants can bring in their own organizational projects to work on during the hands-on sessions, but they also can use the real-world cases provided by our instructors

Audience

Earned Value Management Training Bootcamp is a 4-day course designed for:

• Senior and mid-level managers
• Team managers
• Project managers
• Executives
• Project managers
• IT project managers
• Project coordinators
• Project analysts
• Project leaders
• Senior project managers
• Team leaders
• Product managers
• Program managers.
• All individuals at any level of an organization who are involved in reviewing key project documents, project evaluation, and project control

Learning Objectives

Upon the completion of Earned Value Management Training Bootcamp, the attendees are able to:

• Outline key notions of EVM
• Outline the concerns associated with implementing effective EVM
• Generate and assess a performance measurement baseline (PMB) from plan elements
• Compare the expected project performance with actual performance outcomes
• Calculate project performance by EV metrics
• Apply EVM data to anticipate budget and schedule completion
• Generate a status report according to objective EVM metrics
• Evaluate EVM data to make right decisions about the project and determine corrective measures

Course Outlines

EVM Overview

• EVM definition
• EVM concepts
• EVM application
• EVM language
• EVM implementation
• What is Earned Value?
• What is an Earned Value Management system?
• Standards and guidelines
• Earned Value Management as a project management methodology
• EVM key features and characteristics
• EVM Objectives
• EVM basic principles
• Project management Using EVM versus traditional management

Organization

• Work Breakdown Structure (WBS)
• Organization Breakdown Structure (OBS)
• Control Accounts (CA)
• Assignment of Control Account Managers (CAMS)

Planning, Scheduling, and Budgeting

• Generating time-phased resource loaded schedule including Work Packages (WP) and Planning Packages (PP)
• Introduction to Planned Value (PV), Budget at Completion (BAC), Earned Value (EV), and Actual Costs (AC) metrics
• Indirect vs. direct budgets
• Generating Control Account Plans (CAP) including performance measurement criteria, techniques and evaluation
• Generating Responsibility Assignment Matrix (RAM)
• Introduction to baseline management and Integrated Baseline Reviews (IBR)
• Management Reserves (MR) and Undistributed Budget (UB)

Developing the Project Baseline

• EVM actions in projects
• Baseline
• Scope documents
• Code of accounts
• Budget
• Organizational Breakdown Structures (OBS)
• Chart of accounts
• Total project costs
• Project costs vs project budget
• Establish the scope and cost baseline
• Schedule
• Generating PMB
• Control tolerances

Developing the Scope Baseline

• Approving the project
• Defining the Scope
• Developing the OBS
• Developing the WBS and WBS language
• Developing the RAM

Establishing the Schedule & Budget Baselines

• Developing project schedules
• Developing the integrated master plan
• Developing the control account plans
• Determining work packages
• Determining Earned Value approaches
• Developing the integrated master schedule
• Developing cost baseline
• Establishing PMB

Accounting Considerations

• Review and document Actual Costs (AC)
• AC accumulation standards
• Cost Performance Reports (CPR) 1&2

Evaluating Risk in the Performance Measurement Baseline

• Technical risks
• Schedule risks
• Cost and resource risks
• Management process risks

Evaluating Progress

• EV metrics
• Altering AC
• Data sources: EV
• Measuring EV
• Updating status of schedule activities
• Updating status of work packages
• Updating estimates to complete
• Integrating actual costs

Comparing and Assessing

• Compare
• Bases of variance
• EVM performance indices
• Budget estimation
• ETC
• Estimate at Completion (EAC)
• Anticipating schedule completion
• Analyze and address schedule impacts
• Perform variance analysis on schedule and cost variances
• Exceeding established thresholds
• Perform root cause analysis
• Initiate corrective actions
• “Earned Schedule”
• Other indices
• How to present project status?

Anticipating Future Performance Based on Past Performance

• Measuring Estimates to Complete (ETCs) and Estimates at Completion (EACs)
• Validating the Project EAC with the To-Complete Performance Index (TCPI)
• Determining the Variance at Completion (VAC)

Dealing with Baseline Changes

• Executing a change control system
• Addressing externally directed changes
• Addressing internal re-planning changes
• Officially re-programming project
  • Over-Target Baseline (OTB)
  • Over-Target Schedule (OTS)

Making Adjustments

• EVM and the corrective process
• EVM data analysis
• Corrective measures
• A change management system
• Integrating change

Evaluating and Management Reports

• Review of the monthly EVM patterns
• Setting program tolerances of schedule and cost
• Management by Exception (MBE)
• Creating current period EVM metrics in the report
• Evaluating how to analyze existing period EVM metrics
• Recognizing the trends and early warning indicators
• Review of CPR 5
• How to take action

Revisions & Data Maintenance

• Timeliness and accuracy of data
• Re-plans vs Re-baseline
• Documentation and process
• Audit preparation

TONEX EVM Hands-On Workshop Sample

• Determining contract parameters
• Developing milestones
• Conducting measurement baseline
• Measuring progress
• Reporting the project completion with scope changes
• Scope analysis: preparing a work breakdown structure
• Creating a project schedule
• Creating CAPs for the project
• Preparing a budget estimate
• Completing an earned value baseline
• Tracking project performance
• Preparing a status report

Earned Value Management Training