Earned Value Management (EVM) is a program management technique that integrates technical performance requirements, resource planning, and schedules, while taking risk into consideration. The major objectives of applying earned value are to encourage use of effective technical, cost, and schedule management control systems, and to permit the customer to rely on timely data produced by those systems for better management insight. In addition, EVM allows better and more effective management decision making to minimize adverse impacts to the project.  

Earned value provides an objective measurement of how much work has been accomplished on a project. Using the earned value process, the management team can readily compare how much work has actually been completed against the amount of work planned to be accomplished.  

Course Outline

Project Management Basics

• How Do You Know It’s a Project?

• The Big Picture

• How Does It All Fit Together?

• Project Tools Categories

• Project Scope and Parameters

• The Reality Triangle

• Project Requirements Document

• Defining Project Success

• Common Phases of a Project

Planning

• Planning

• The Work Structure in Project Management

• Work Breakdown Structure

• The Work Breakdown Structure Example

• Work Breakdown Structure Exercise

• Defining Work Dependencies

• Logic Networks

• Logic Network Development

• The Logic Diagram

• Logic Network Worksheet

• Calculating Early Start, Early Finish

• Developing Late Start, Late Finish

• Project Float

• Scheduling Exercise

Earned Value Management

• Concepts and Definitions

• Management Cost and Control Systems (MCCS)

• Understanding Control

  • Planning Cycle

  • Operating Cycle

• Cost Account Codes

• Budgets

• Variance and Earned Value

  • Methods of Measurement

  • Terminology

    • Budgeted Cost of Work Scheduled

    • Budgeted Cost of Work Performed

    • Estimate to Completion

    • Estimate at Completion

    • Actual Cost of Work Performed

    • Budget at Completion

    • Cost Variance

    • Schedule Variance

    • Cost Performance Index

    • Schedule Performance Index

    • Percent Complete

    • Milestone

    • Equivalent Units

    • 0/100

    • Cost Formula (80/20)

    • Level of Effort

    • Apportioned Effort

• Organizational-Level Analysis

• Program Team Analysis

• Earned Value Exercise

Glossary of Terms

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