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Understanding the Workings of Earned Value Management

The concept and methodology of Earned Value Management is vital in the actual application to any government or commercial project based on the principles set by the DOD and OMB. Thus the course on EVMS is needed to enable participants to apply them using the systems in project management and the methods for program implementation, planning and control. This encompasses the overall scope, schedule, baseline plan, cost objectives and the application of the techniques earned as the basis for evaluating performance at the actual program implementation. EVMS offers participants a strong foundation for identifying risk, planning, management and CAPA or corrective actions towards achieving a successful program or project.

Who are qualified to attend?

  • Program & Project Managers for Non Defense Government Program, and Technical Staff who use earned value for planning fixed asset as an important component
  • Program & Project Managers for Commercial Management, and Team Members of Project who will utilize earned value for existing or future contracts in Government
  • Program Managers in Government tasked to implement contracts for Integrated Baseline Reviews on Defense Acquisitions
  • Technical Team that is responsible in making reports on C/SCSC and doing Integrated Baseline Reviews
  • Project Management Office Members who are fascinated with the implementation of existing EVMS processes
  • Project and Program Managers who wants to implement EVMS as tool for management and assessing risk

Course Overview

Introduction
  • EVMS as a Management Science
  • Why earned value?
  • History of earned value
  • Key concepts and principles
  • Earned value and the DOD, OMB, PMI®, and SEI
  • Federal Requirements for EVMS
Organizing for EVMS
  • C/SCSC and EVMS criteria
  • EVMS over the project life cycle
  • Defining scope and statement of work
  • Work breakdown structure (WBS) and EVMS
  • A WBS elements system
  • Working at the various level of the WBS
  • Risk identification
  • Communication planning
  • Human Resource planning
  • Quality planning
Scheduling
  • Gant charts
  • Milestone charts
  • Network scheduling
  • ADM
  • PDM
  • Critical path methodology
  • Baseline schedules
Cost Estimates
  • Estimation types
  • Estimating effort and duration
  • Estimating methodologies
  • Single point vs multi-point estimates
  • Estimating and risk management
  • Setting the budget baseline
Resources and Work Authorization
  • Resource planning and the budget baseline
  • WBS and resource planning
  • Responsibility Assignment Matrix (RAM)
  • Work Authorization System
Monitoring and Reporting
  • The Project Communications Plan
  • EVMS definitions
  • Control account characteristics and elements
  • Planed value
  • Earned value
  • Actual cost
EVMS and Variance Analysis
  • Cost variances
  • Schedule variance
  • Cost performance index (CPI)
  • Schedule performance index (SPI)
Forecasting with EVMS
  • Tracking the indexes
  • Estimate at completion (EAC)
  • Estimate to complete (ETC)
  • To complete performance index (TCPI)
EVMS maintenance and control
  • Reporting issues and solutions
  • Overcoming organizational barriers
  • Overcoming contractor resistance
  • Change control

The course covers the Introduction about EVMS as a Management Science, the need to earn EVMS value and the history of earned value, principles and concepts and the relationship of earned value and the SEI, DOD, OMB and PMI. Other part of the course is about Organizing for EVMS, Scheduling , Cost Estimates , Resources and Work Authorization , Monitoring and Reporting, EVMS and Variance Analysis, Forecasting with EVMS, EVMS maintenance and control.

PMI PDU’s/Contact Hours

After successfully completed the course, each participant will be conferred the coveted 14 PMI® “PDU’s” (Professional Development Units) that is necessary for getting the Continuing Certification Requirements for getting credentials for PMP® / PgMP® / PMI-SP / PMI-RMP or as Contact Hours for PMI® when they need to apply for the said credentials.