Price: $1,699.00
Length: 2 Days
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Earned Value Management Workshop

Earned Value Management Workshop Training Course Description

Earned Value Management Workshop covers the bases of EVM and how to establish an effective project baseline and track the project progress against known expectations. We will teach you how EVM is incorporated within the project life cycle, and through the hands-on section of the workshop, you will get to exercise the activities to develop an effective baseline.

Earned Value Management Workshop

Earned Value Management Workshop allows you to determine the crucial data points that need to be gathered to assess project progress. You will learn to do trend analysis, calculate actual cost, and properly project final cost, schedule, and performance variances. You will understand how change affects EVM and how accepted changes can affect your primary baseline.

Through Earned Value Management Workshop, we will train you to recognize the stakeholders who would benefit from EVM data and learn efficient communication tools.

Learn About:

  • Importance of EVM
  • Impact of EVM in project management
  • Scope, schedule, and budget management
  • Creating baseline
  • Impact of EVM in project planning
  • Monitoring and controlling the baseline
  • Monitoring and controlling scope, schedule, and cost
  • Collecting data
  • Analyzing data
  • Anticipating final variances
  • Managing change and the impact to EVM
  • The difference between EVM in corporations and in the federal environment

TONEX EVM Workshop Format

  • 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 workshop is a 2-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

Training Objectives

Upon the completion of earned value management training workshop, the attendees are able to:

  • Explain the goal of Earned Value Management (EVM)
  • Explain the basic EVM elements
  • Evaluate performance using earned value methods
  • Explain how to track and control project schedule and budget
  • Describe the rules of earned value management
  • Express the rules for organizing and planning a project with earned value management
  • Discuss earned value management reports and diagrams
  • Conduct variance analysis using earned value data
  • Determine earned value trends and their importance
  • Conduct exclusion assessment down to work package level
  • Plan actions according to the evidence of earned value data

Course Outline

Overview

  • EVM definition
  • The need for EVM
  • The role of EVM
  • Project controls
  • Management by objectives
  • Parameters of EVM
  • Milestones
  • Milestones as measures
  • EVM project planning
  • EVM terminology
  • EVM statistics
  • EVM data
  • Basic EVM terminology
  • Performance statistics
  • Forecasting
  • Management by exception
  • The significance of earned value

Background of EVM

  • A hundred years of history and change
  • Cost control
  • Limited adoption in private and governmental sectors
  • A simpler version: EVMS
  • Back to basic earned value principles

EVM Requirements

  • EVM planning
  • Management issues answered by EVM
  • EVM steps
  • Accuracy and precision
  • Three-dimensional perspectives of a project

Defining Scope

  • Defining the work to be done
  • Input and output
  • Work breakdown configuration
  • Decomposition to work packages
  • Decomposition to task and activity
  • WBS language
  • WBS principles

Scheduling the Project

  • EVM scheduling requirements
  • Primary schedule
  • Vertical integration
  • Horizontal integration
  • Example schedule

Integrating Scope, Schedule, and Costs through CAPs

  • Control account plans
  • The role of CAPs
  • CAP ingredients
  • CAP size and number
  • The CAP rule
  • CAP example
  • What is left to complete a project plan?

Creating an EV Measurement Baseline

  • EV measurement baseline
  • Demands answered by the baseline
  • Planning and calculating earned value
  • Establishing an EV measurement system
    • Considerations for choosing a measurement method
    • Methods used to plan and measure EV
    • CAP with EV measures examples
    • Project cost baseline
  • PMB elements
    • Managing change

Observing Performance Versus Baseline

  • Monitoring starts at the task level
  • Trend indicator
  • Management by exception
  • Cost performance index (CPI)
    • Using the CPI
  • Schedule performance index (SPI)
    • Using the SPI
  • Cumulative vs. periodic data

Forecasting Final Cost and Schedule Results

  • Management with the headlights on
  • Elements determining project results
  • Statistical forecasts
    • Estimate at complete
    • To complete performance index
    • Schedule forecasting – EACt

TONEX EVM Hands-On Workshop Sample

  • Understand all the items of the contract
  • Define the objectives and their associated milestones
  • Develop a performance measurement baseline
  • Monitor the project progress
  • Analyze the progress
  • Report project completion with scope changes
  • Analyze scope
  • Prepare a work breakdown structure
  • Develop a project schedule
  • Generate CAPs for the project
  • Prepare a budget evaluation
  • Perform an earned value baseline
  • Monitor project performance
  • Present a status report

 Earned Value Management Workshop

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