Earned Value Management

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Earned Value Management

This course provides participants with a solid foundation in Earned Value Management (EVM) as a project performance measurement tool. It covers key EVM formulas, analysis techniques, and forecasting methods that enable project managers to monitor progress, identify variances, and make data-driven decisions for project success.

Training Methodology

Employ varied activities to engage participants actively, including discussions, case studies, and writing assignments.

Provide opportunities for feedback and self-assessment to track progress and identify areas for improvement.

Outline

Part 1. Introduction to EVM

Definition and Purpose of Earned Value Management
Importance of EVM in Project Control
Benefits of EVM for Project Managers and Stakeholders
Common Misconceptions about EVM

Part 2. Key Concepts and Terminology

Planned Value (PV) / Budgeted Cost of Work Scheduled (BCWS)
Earned Value (EV) / Budgeted Cost of Work Performed (BCWP)
Actual Cost (AC) / Actual Cost of Work Performed (ACWP)
Budget at Completion (BAC)
Estimate at Completion (EAC)
Estimate to Complete (ETC)
Variance at Completion (VAC)

Part 3. Variance Analysis

Cost Variance (CV) = EV – AC
Schedule Variance (SV) = EV – PV
Interpreting Positive and Negative Variances
Using Variance Analysis to Identify Risks and Performance Issues

Part 4. Performance Indices

Cost Performance Index (CPI) = EV / AC
Schedule Performance Index (SPI) = EV / PV
Interpretation of CPI and SPI Values
Tracking Efficiency and Predicting Trends

Part 5. Forecasting Project Performance

Estimate at Completion (EAC) Formulas:
EAC = BAC / CPI
EAC = AC + (BAC – EV)
EAC = AC + (BAC – EV) / (CPI × SPI)
Estimate to Complete (ETC) and Variance at Completion (VAC)
Forecasting Time and Cost to Project Completion

Part 6. EVM Graphs and Reports

S-Curve Interpretation (PV, EV, AC Lines)
Visualizing Performance Trends Over Time
Reporting EVM Metrics to Stakeholders
Using Dashboards and Project Management Software for EVM

Part 7. Integrating EVM into Project Management

Steps to Implement EVM in a Project
Data Collection and Baseline Setup
Monitoring and Updating Progress
Corrective and Preventive Actions

Part 8. Case Study and Hands-On Application

Real-World Scenario or Sample Project Data
Compute EV, PV, AC, Variances, and Indices
Interpret Results and Recommend Actions

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