Course Description
Understanding Earned Value Management (APPEL-UEVM)
Audience
This course is designed for project team members who are responsible for planning, controlling, and analyzing cost, schedule and technical performance of an activity, project, or contract.
Goal
When asked what participants learned that would be most beneficial to their work, they said…
"Insights to the EVM basics, the whys and how’s to arrive at what makes up earned value and how to access project progress and completion."—LaRC, 2007
This two-day course will provide an understanding of how to get up and running with Earned Value Management (EVM) by establishing the Performance Measurement Baseline (PMB), assessing earned value, analyzing cost and schedule variances, and determining an Estimate At Completion (EAC) of the project’s or contract’s final cost and schedule.
Learning Methods
Lectures, discussions, case studies, demonstrations, and group exercises will present key concepts regarding the EVM process.
Specific Objectives
Upon completion of this course, participants will be able to:
- Understand basic EVM concepts and terminology and how to develop an EVM baseline
- Use EVM data to forecast the project’s or contract’s final cost at completion
- Develop Work Packages using generally accepted earned value methods for discrete effort, apportioned effort, and level of effort
- Measure earned value at the Work Package level
- Understand the principles involved in establishing a Performance Measurement Baseline to incude: role of WBS in defining scope; value of developing a Responsibility Assignment Matrix; importance of the Integrated Master Schedule; and the signifigance of tying the budget to the schedule with the WBS
- Recognize the significance of variances from the baseline
Notes
This course is registered by the Project Management Institute (PMI) for 15 Professional Development Units (PDUs). PMI Course ID: UEVM25
