Earned Value Management
Course Description
This course in Earned Value Management is based on best practices in use by project managers. The course is designed around theory given in project management literature and consists of lectures, complemented by practical exercises in groups, followed by presentations and discussions of the groups’ results.
Relevant topics related to Earned Value Management, such as how to determine progress in a project, presentation techniques of information to management and stakeholders, the consideration of when to place material costs
in time and other practical problems in relation to projects will also be covered.
Relevant topics related to Earned Value Management, such as how to determine progress in a project, presentation techniques of information to management and stakeholders, the consideration of when to place material costs
in time and other practical problems in relation to projects will also be covered.
Course Duration
2 days
Course Objectives
On completion of this course, the delegates will have knowledge of the Earned Value Management methodology and will be able to practically apply it to projects in their work environment.
Course Content
Course Introduction
Administration, Objectives, Overview of PMI and current course
Concepts of Project control and evaluation
Understanding the concepts of project control and the components of a control system as well as project evaluation
Measuring progress
How to determine progress and problems and techniques to overcome these difficulties
Introducing EVM concepts
Theory, terminology and concepts of the Earned Value Management methodology
How to analyse the results
Methods and formulae for calculating the current status or variance from the project plan
Forecasting
Techniques for using the data to produce forecasts for e.g. milestone achievement and/or project completion
Recording material costs
Combining material and labour cost into one figure may give erroneous results - here we discuss how to avoid this problem
Status reporting to management
Covering methods, techniques and templates on how to present project information derived from EVM to
management and stakeholders
Potential problems concerning cost and control
How and where cost problems and overruns can occur - and what to do about it
Case Study
The course is very practical with case studies and examples to give delegates practical usage of the calculations,
methods and presentations
Administration, Objectives, Overview of PMI and current course
Concepts of Project control and evaluation
Understanding the concepts of project control and the components of a control system as well as project evaluation
Measuring progress
How to determine progress and problems and techniques to overcome these difficulties
Introducing EVM concepts
Theory, terminology and concepts of the Earned Value Management methodology
How to analyse the results
Methods and formulae for calculating the current status or variance from the project plan
Forecasting
Techniques for using the data to produce forecasts for e.g. milestone achievement and/or project completion
Recording material costs
Combining material and labour cost into one figure may give erroneous results - here we discuss how to avoid this problem
Status reporting to management
Covering methods, techniques and templates on how to present project information derived from EVM to
management and stakeholders
Potential problems concerning cost and control
How and where cost problems and overruns can occur - and what to do about it
Case Study
The course is very practical with case studies and examples to give delegates practical usage of the calculations,
methods and presentations
Who should attend?
Project Managers who wish to improve on their skills in control and knowledge of the status of their projects, or managers who feel that projects regularly slip out of control and that project progress management often is based on guess work.
The course is also suitable for program managers and managers on steering committees, to enhance their understanding of control tools and to interpret the information given to them by the project managers.
The course is also suitable for program managers and managers on steering committees, to enhance their understanding of control tools and to interpret the information given to them by the project managers.
Pre-requisites
Delegates shoud have experience of working on projects or should be in a Project Management role.
Further Information
For delegates who wish to apply for or maintain accreditations offered by the Project Management Institute (PMI®) this course gives 13 Professional Development Units (PDU’s).