Price: $1,699.00

Length: 2 Days
Print Friendly, PDF & Email

Fundamentals of Earned Value Management Training

Fundamentals of Earned Value Management Training Course Description

Fundamentals of Earned Value Management Training teaches you how to analyze a project’s performance in terms of its baseline. We will also teach you how to track the project progress via Earned Value Management (EVM). Fundamentals of Earned Value Management will provide you a strong understanding of the EVM principals and how to use them in everyday project situations, by using software models and other practical tools.

Fundamentals of Earned Value Management

Learn About:

  • The significance and value of EVM in today’s world
  • Project Management and EVM integration
  • EVM Analytics
  • EVM Methods
  • EVM Forecasting
  • ANSI-EIA industry standards on a Project
  • Schedule Variances (SV)
  • Cost Variances (CV)
  • Variance at Completion (VAC)
  • Schedule Performance Indices (SPI)
  • Cost Performance Indices (CPI)
  • TCPI (To Complete Performance Index)
  • History and purpose of EVM
  • Earned Value concepts
  • The ANSI 748 criteria
  • Team roles and responsibilities
  • Organization
  • Planning, scheduling and budgeting
  • Accounting considerations
  • Analysis and management reports
  • Revisions and maintenance
  • Common Technology
  • EVM processes
  • Common earned value systems
  • The recurring update cycle for earned value systems
  • Best practices for WBS, OBS and other structures
  • Control accounts
  • Work packages
  • Planning packages
  • The performance measurement baseline
  • Optimum earned value technique
  • Common drawbacks
  • The earned value system implementation timeline
  • Integrated Baseline Review (IBR)
  • CPRs

Audience

Fundamentals of Earned Value Management training is a 2-day course designed for:

  • Members of the project management office
  • Project managers
  • Business analysts

Learning Objectives

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

  • Implement the performance management baseline
  • Use the Integrated Baseline Review to follow up on and document EV
  • Use earned value elements and processes
  • Conduct the analysis related to earned value reporting
  • Understand the terminology of earned value and use it in action
  • Discuss the background and goal of EVM
  • Understand the concepts of earned value
  • Understand the ANSI requirements
  • Articulate the roles and responsibilities associated with EVM
  • Master in planning, scheduling, and budgeting
  • Understand accounting considerations
  • Prepare analysis and management reports
  • Perform revisions and maintenance
  • Explain earned value processes
  • Discuss typical earned value systems
  • Choose best practices for WBS, OBS, and other structures
  • Choose the optimum earned value technique for a work package
  • Understand, estimate, and interpret Contract Performance Reports (CPRs)

Course Outline

Overview

  • Earned Value Management (EVM) definition
  • History and goals of EVM
  • Benefits of EVM
  • Elements of EVM
  • EVM process
  • Key EVM concepts
  • EVM principles
  • EVM planning process
  • Preparing a Control Account Plan (CAP)
  • Earned Value Management terminology
  • Formulae (EV, AC, PV, CV, SV, SPI, CPI, TCPI, % start, % complete)
  • Earned Value Management forecasting (ETC, EAC)
  • Earned Value Management implementation & the US Federal government standards (OMB; US Senate Bills; Weapons Systems Act and so on)
  • Implementing ANSI-EIA 748-c Earned Value Management industry standards (32 Criteria)

Project Management Theory, Application, and Project Controls

  • Project management theory and EVM
  • Project management processes
    • Project life cycle
    • Triple Restraints
  • Project scope management
  • Project scheduling
  • WBS terminology
  • Work Authorization Document
  • Project budgeting & controls
    • Budgets
    • Contract budget baselines
    • Over target baselines
    • Undistributed budgets
    • Distributed budgets
    • Management Reserve (MR)
    • Contingency
    • Control Accounts
  • Performance Measurement Baselines (PMB)

Project Performance Information

  • Project budget model
  • Budget questions
  • Schedule questions
  • Defining goals
  • Scope questions
  • Triple limitation

Trends and Directions

  • Direction of trend
  • Evaluating competences
  • CPI
  • Work efficiency aspects

Forecasting

  • Project forecast questions
  • Approximation at completion
  • Variance at completion
  • Request for change
  • PPM Changes

Developing the Measurement Baseline

  • Straight lines
  • WBS
  • Organizational breakdown framework
  • Control accounts

Earning Method

  • Earning technique tasks
  • Earning technique planning

Earned Value in Action

  • Generating a WBS
  • Control account planning
  • Performing & following up
  • Report the facts

Earned Value Management System

  • The System
  • Sequence factor
  • Task evaluations
  • Loading into PMIS

Incorporating Systems and Processes

  • Cost control principles
  • Principles of EVMS
  • ANSI / EIA-748
  • List of compliance

TONEX EVM Hands-On Workshop Sample

  • Defining the problem statement
  • Defining the scope and objectives
  • Defining the timeline and budgeting
  • Defining the three main baseline
  • Implementing the EVM process
  • Calculating EV and costs
  • Planning and controlling the project
  • Calculating risks
  • Analyzing the results
  • Reporting the results
  • Presenting the project

Fundamentals of Earned Value Management Training

Request More Information

  • Please complete the following form and a Tonex Training Specialist will contact you as soon as is possible.

    * Indicates required fields

  • This field is for validation purposes and should be left unchanged.