Earned Value Management for Project Performance Measurement

Overview:

Introduction:

The Earned Value Management for Project Performance Measurement program is a training program designed to provide professionals with the knowledge and skills necessary to utilize Earned Value Management (EVM) techniques for project performance evaluation. By applying EVM principles, participants can enhance project forecasting, identify deviations from planned performance, and implement corrective actions to ensure project success since EVM is considered to be one of the most powerful and productive concepts utilized in managing today’s complex projects in private, commercial, or government environments.

Program Objectives:

At the end of this program the participants will be able to:

• Obtain knowledge in understanding and using an effective performance management system in managing technical projects effectively.

• Manage projects using a proven, effective performance measurement technique.

• Work with clients to define project objectives and develop a project plan and put it into action.

• Make project decisions concerning scope, cost and schedule parameters faster, more effectively and more confidently.

• Stay on top of schedules, budgets, workloads, and human resources issues and delegate practically and fairly.

• Learn to avoid the pitfalls of project management by quickly identifying potential project risks and mitigate them as early as possible.

Targeted Audience:

• Project Managers

• Project Controllers

• Cost Controllers

• Finance Professionals

• Team Leaders

• Project Technical

• Project Sponsors / Owners

Program Outlines:

Unit 1:

Introduction to Earned Value Management (EVM):

• Management Criteria versus Engineering Criteria.

• Evolution of the Earned Value Management (EVM) Concept.

• The Cost/Schedule Control System Criteria (C/SCSC).

• The EVM System Criteria.

• Performance Measurement- An Effective EVM Technique.

• EVM in Project Management.

Unit 2:

Scope, plan and schedule of The Project:

• Understanding the Project Work Scope.

• Work Breakdown Structure (WBS).

• Make-or-Buy Choice.

• WBS and Earned Value.

• Understanding the Project Objective.

• Planning and scheduling of the Project.

• Scheduling and Earned Value.

Unit 3:

Estimate and Budget Project Resources to Form Control Account Plans (CAPs):

• Integrating the Project Work Scope with Cost and Schedule.

• Earned Value CAPs.

• Cost Estimates and Budgets.

• Management Reserves.

Unit 4:

Establishing and Monitoring Earned Value Project Baseline:

• Methods Used to Plan and Measure Earned Value.

• Control Account Plans (CAPs).

• The Performance Measurement Baseline (PMB).

• Maintaining the Baseline: Managing Changes in Scope.

• CAPs Performance Measurement and Presentations to Project Management.

• Earned Value Cost and Schedule Variances.

• Materials and Subcontracts in EVM.

Unit 5:

Final Cost, Schedule Forecasting and EVM Reporting:

• Determining Factors, Cost and Schedule Results Methodology.

• Management Reserve or Contingency Reserve.

• Estimate At Completion (EAC).

• The Over Target Baseline (OTB) Process.

• Predicting the Project’s Time Duration.

• Preparing and Interpreting the Integrated Cost/Schedule Report.

• Subcontractors’ Reporting and the EVM Reporting Formats.