Introduction
Managing technical projects effectively in today’s competitive environment requires accurate control over schedule, cost, and performance. Earned Value Management (EVM) provides an integrated approach to measure project performance against scope, cost, and schedule baselines. By comparing actual accomplishments with planned work and budget, EVM enables early identification of schedule slippage and cost overruns, allowing timely corrective actions. This course equips participants with practical knowledge to implement EVM effectively for improved project control and decision-making.
Course Objectives
Participants will learn to:
- Understand and implement an effective performance management system using EVM
- Apply EVM techniques to monitor project scope, cost, and schedule
- Develop control account plans (CAPs) and establish a project baseline
- Identify and mitigate project risks early
- Make timely decisions regarding scope, cost, and schedule parameters
- Interpret and report EVM metrics to support management decision-making
Target Audience
This course is designed for:
- Project Managers and Project Engineers
- Program and Portfolio Managers
- Contract and Procurement Managers
- PMO Staff and Project Controllers
- Professionals responsible for project performance measurement and reporting
Course Outline
Day 1– Introduction to EVM
- Management vs. Engineering Criteria
- Evolution of EVM Concepts
- Cost/Schedule Control System Criteria (C/SCSC)
- Performance Measurement as an EVM Technique
- EVM in Project Management
Day 2– Project Scope & Work Breakdown
- Understanding Project Work Scope
- Work Breakdown Structure (WBS)
- Make-or-Buy Decisions
- Linking WBS to Earned Value
Day 3– Planning, Scheduling, and Budgeting
- Defining Project Objectives
- Planning and Scheduling the Project
- Scheduling and Earned Value Integration
- Estimating and Budgeting Resources for Control Account Plans (CAPs)
- Management Reserves and Contingency Planning
Day 4– Performance Measurement & Monitoring
- Establishing the Earned Value Project Baseline
- Control Account Plans (CAPs)
- Performance Measurement Baseline (PMB)
- Maintaining Baseline and Managing Scope Changes
- CAPs Performance Measurement and Variance Analysis
- Materials and Subcontractor Integration in EVM
Day 5– Forecasting & Reporting
- Final Cost and Schedule Forecasting
- Estimate at Completion (EAC)
- Over Target Baseline (OTB) Process
- Predicting Project Duration
- EVM Reporting Formats
- Preparing and Interpreting Integrated Cost/Schedule Reports
