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Earned Value Management

This workshop covers the technique of Earned Value (EV) as an effective tool in managing projects. It covers the history of the EV concept along with the rationale for using the tool. EV is currently the most robust project management tool available for evaluating project status and forecasting completion costs and schedule. Earned Value relies on a well-developed work breakdown structure to create cost and schedule baselines. From this base-level definition, it is possible to compare project plans versus actual status in a more meaningful way than traditional planned versus actual presentations. The EVM metrics are very helpful in analyzing and forecasting variations in cost and schedules for the future of the project.

Learning Objectives

  • Discuss the history of EV
  • Explain the purpose of EV
  • Differentiate EV metrics and their uses
  • Develop a spend plan
  • Calculate the various EV metrics
  • Use the EVM System Criteria
  • Interpret the Earned Schedule variation of Earned Value
  • Evaluate project progress using EVM

Topics & Content

  • C/SCSC
  • EVM metrics: PV, AC, EV, CV, SV, CPI, SPI, TCPI
  • EVM Analysis
  • EVM Forecasting
  • ANSI/EIA Standard 748
  • EVM System Criteria
  • Advantages of EV over previous reporting systems
  • Earned Schedule

Course Information

Course Code: PM501
Duration: 2 days
Targeted Audience: Project managers
Accreditations:

  • OPM - 14 CLP(s)
  • PMI - 14 PDU(s)

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