Earned Value Management(EVM) Program

Earn Value Management Overview

Earned Value Management (EVM) is a well-accepted project management tool used to track and evaluate a project’s performance. EVM combines metrics on cost, schedule, and technical accomplishment to determine, at any given point, a project’s status and performance. Traditional project management methods measures progress based on how much money a project has spent, or how much time has elapsed, with no correlation to how much work is being accomplished. For example, the project has spent 50% of the budget so 50% of the necessary work must also be complete. EVM on the other hand, measures progress through ratios linking cost, schedule, and performance; cost and schedule measurements are incorporated directly into technical performance.

Using EVM, Project Controls Managers can see, at any given time (Schedule), what they have received (Performance) for the money/resources (Budget) they have allocated. This allows for more informed decisions than those that result from looking at production/performance figures that are not correlated to time or cost.

Program Objective

Our program is a blend of 1 Day classroom training which is designed for individuals who want to familiarize themselves with Earn Value Management (EVM) and we cover below topics.

Scope the project - Work breakdown structure, Plan and Schedule the project, Estimate and Budget project resources to form Control Account Plan(CAPs), Establish Earned Value Project Baseline, Monitoring Performance against baseline, Forecasting Final cost and Schedule results, Common Issues in implementing the EVM

Pros

PMP® / PgMP® Credential Holder can claim 8 PDUs under Category B to maintain certification