Introduction:

Earned Value Management (EVM) is a structured approach for integrating scope, schedule, and cost to assess project performance and ensure effective decision-making. It is widely recognized as one of the most effective methodologies for managing complex projects across private, commercial, and government sectors. This training program provides participants with advanced knowledge of EVM techniques, focusing on performance evaluation, variance analysis, and forecasting methods. It equips professionals with the tools needed to enhance project monitoring, improve financial control, and ensure project objectives are met efficiently.

Program Objectives:

By the end of this program, participants will be able to:

Identify EVM principles and their role in project performance.
Define project scope, WBS, and integrate scheduling with EVM.
Estimate costs, allocate budgets, and manage financial controls.
Monitor baselines, manage changes, and analyze variances.
Interpret reports, forecast performance, and perform corrective actions.

Targeted Audience:

Project Managers.
Project and Cost Controllers.
Finance Professionals.
Team Leaders.
Project Engineers.
Project Sponsors and Owners.

Program Outline:

Unit 1:

Introduction to Earned Value Management (EVM):

Comparison of management criteria versus engineering criteria.
Evolution of Earned Value Management and its role in project success.
Overview of Cost/Schedule Control System Criteria (C/SCSC).
Key principles and structure of an EVM system.
Performance measurement as a tool for project control.

Unit 2:

Scope, Planning, and Scheduling of the Project:

Definition and breakdown of project work scope.
Work Breakdown Structure (WBS) and its role in project planning.
Decision-making process in make-or-buy analysis.
Relationship between WBS and earned value tracking.
Project scheduling techniques and their integration with EVM.

Unit 3:

Estimating and Budgeting Project Resources:

Alignment of project scope, cost, and schedule for effective control.
Control Account Plans (CAPs) and their role in cost management.
Techniques for developing accurate cost estimates and budgets.
Establishing management reserves for contingency planning.
Financial control measures to support project success.

Unit 4:

Establishing and Monitoring the Earned Value Baseline:

Methods for planning and measuring earned value performance.
Control Account Plans (CAPs) and their function in project tracking.
The process of defining and maintaining the Performance Measurement Baseline (PMB).
How to manage baseline changes and adapt to project scope adjustments.
Tools for evaluating earned value cost and schedule variances.

Unit 5:

Forecasting, Reporting, and Performance Evaluation:

Factors influencing final cost and schedule forecasting.
Techniques for estimating completion costs and timeframes.
The role of management and contingency reserves in forecasting.
Over Target Baseline (OTB) process and its impact on project control.
The processes involved in preparing and interpreting integrated cost/schedule reports.

Earned Value Management EVM for Project Performance Measurement