Earned Value Management
Earned Value Management (EVM) allows you to take full control of your project and turn reactive unplanned interventions into proactive planned interventions. EVM is a systematic process used to calculate cost and schedule variances on projects by comparing work planned and work performed.
To find out more about this course, select from the following categories of information as outlined below:
- A brief history of the origins of earned value.
- The development of the WBS and its use in the EVM process.
- Structuring the project budget for EV use. This includes the allocation of cost over time and the principles of a cost loaded project schedule and the project cost flow.
- 6 methods of project progress measurement:
- Units complete
- Incremental milestones
- Start/Finish methods
- Supervisor/Resource Opinion
- Cost Ratio
- Weighted or Equivalent Units
- Descriptive EV methods:
- Earned Value (EV)
- Actual Cost (AC)
- Planned Value (PV)
- Schedule Performance Index (SPI)
- Cost Performance Index (CPI)
- Cost Variance (CV)
- Schedule Variance (SV)
- EV forecasting:
- 5 methods of Estimate at Completion (EAC) calculations
- Variance at Completion (VAC)
- To Complete Performance Index (TCPI)
- Measuring Productivity and Productivity Index (PI).
- Using EV on variable budgets.
- Contracting methods and the associated EVM methods.
- Time and Cost integration, and scheduling for EVM.
- Work contours and their effect on EVM.
- Analysing the Critical Path with EV.
- Late start schedules and EV.
- EV reporting and dashboards.
Who should attend this course?
- Project Managers
- Project Planners
- Project Controllers
- Cost Engineers
- Project Schedulers
- Project Accountants
- PMO Managers
Training Quality Assurance
ProjectLink has been reviewed and approved as a provider of project management training by the Project Management Institute (PMI). This course carries 14PDU’s for PMI® certification holders.
- Course file with all the course notes and exercises.
- A certificate of attendance.
- Earn 14 Professional Development Units (PDUs) for maintaining a PMI certification.
- The course involves many calculations and it is recommended that attendees have at least secondary school-level mathematics.
- Prior exposure to earned value management techniques.
- Delegates must bring a scientific calculator to the course.