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Earned Value Management (EVM)

This course teaches you the fundamentals of EVM so you can understand how to establish an effective project baseline and monitor project progress against known expectations. Learn how EVM is...

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By Request
$2,295 USD
Duration 3 days
Course Code 2845
Available Formats Virtual, Classroom

Overview

This course teaches you the fundamentals of EVM so you can understand how to establish an effective project baseline and monitor project progress against known expectations.

Learn how EVM is integrated throughout the project life cycle. Practice the activities you go through to establish an effective baseline. Identify the critical data points that must be collected to analyze project progress. Learn to conduct trend analysis, calculate actual cost, and accurately project final cost, schedule, and performance variances. Understand how change impacts EVM and how approved changes can impact your original baseline. Identify the stakeholders who would benefit from EVM data and learn effective communication methods. Finally, review the differences of EVM in a corporate and federal environment.

Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.

Skills Gained

  • Why EVM is important
  • Establishing and managing scope, schedule, and budget
  • Creating a reasonable baseline
  • Integrating project planning and EVM
  • Monitoring and controlling the baseline
  • Monitoring and controlling scope, schedule, and cost
  • Collecting and analyzing data
  • Forecasting final variances
  • Managing change and the impact to EVM
  • The difference between EVM in corporations and in the federal environment

Hands-On Exercises

  • Identify contract negotiation parameters
  • Create milestones and a performance measurement baseline
  • Measure progress
  • End-of-project reporting with scope changes
  • Scope analysis: prepare a work breakdown structure
  • Create a project schedule
  • Create CAPs for the project and prepare a budget estimate
  • Complete an earned value baseline
  • Monitor project performance
  • Prepare a status report

Who Can Benefit

Project managers, IT project managers, project coordinators, project analysts, project leaders, senior project managers, team leaders, product managers, and program managers.

Prerequisites

Project Management Fundamentals, IT Project Management, or Applied Project Management Boot Camp

Course Details

1. Introduction to Earned Value Management

  • The need for EVM
    • Project dilemma
  • The role of EVM: Monitoring projects
    • Project controls
    • Management by milestones
  • Characteristics of EVM
  • Milestones
    • Milestones as measures
    • EVM project planning
  • EVM terminology
    • EVM statistics
    • EVM data
    • Basic EVM terminology illustrated
    • Performance statistics
    • Forecasting
  • Management by exception
  • The value of earned value

2. History of EVM

  • A hundred years of evolution
  • Cost control for government
    • Limited adoption in private sector
    • A simpler version: EVMS
  • Back to basic earned value principles

3. Ingredients necessary for EVM

  • EVM planning overview
  • Management questions answered by EVM
  • EVM stages
  • Precision and rigor
  • Three-dimensional view of a project

4. Defining scope

  • Defining the work to be done
    • What's in and what's out
  • Work breakdown structure
    • Decomposition to work packages
    • Decomposition to task and activity
    • WBS terminology
  • WBS principles

5. Scheduling the project

  • Scope and then schedule
  • EVM scheduling requirements
    • Master schedule
    • Vertical integration
    • Horizontal integration
    • Example schedule

6. Integrating scope, schedule, and costs through CAPs

  • Control account plans
  • The role of CAPs
  • CAP ingredients
    • CAP size and number
    • The CAP rule
    • CAP example
    • What is left to complete a project plan?

7. Establishing an EV measurement baseline

  • EV measurement baseline
  • Questions answered by the baseline
  • Planning and measuring earned value
  • Establishing an EV measurement system
    • Considerations for choosing a measurement method
    • Methods used to plan and measure EV
    • Example CAP with EV measures
    • Project cost baseline
  • PMB components
  • Managing change

8. Monitoring performance against baseline

  • Monitoring starts at the task level
  • Trend indicator
  • Management by exception
  • Cost performance index
    • Using the CPI
  • Schedule performance index
    • Using the SPI
  • Cumulative vs. periodic data

9. Forecasting final cost and schedule results

  • Management with the headlights on
  • Factors determining project results
  • Statistical forecasts
    • Estimate at complete
    • To complete performance index
    • Schedule forecasting - EACt

10. EVM criteria review

  • EVM overview
  • Implementing EVM
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Schedule

Upcoming Course Dates

There are currently no scheduled dates for this course. If you are interested in this course, contact us with the form below.

Contact Information

FAQ

Does the course schedule include a Lunchbreak?

Classes typically include a 1-hour lunch break around midday. However, the exact break times and duration can vary depending on the specific class. Your instructor will provide detailed information at the start of the course.

What languages are used to deliver training?

Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.

What does GTR stand for?

GTR stands for Guaranteed to Run; if you see a course with this status, it means this event is confirmed to run. View our GTR page to see our full list of Guaranteed to Run courses.

Does Ascendient Learning deliver group training?

Yes, we provide training for groups, individuals and private on sites. View our group training page for more information.

What does vendor-authorized training mean?

As a vendor-authorized training partner, we offer a curriculum that our partners have vetted. We use the same course materials and facilitate the same labs as our vendor-delivered training. These courses are considered the gold standard and, as such, are priced accordingly.

Is the training too basic, or will you go deep into technology?

It depends on your requirements, your role in your company, and your depth of knowledge. The good news about many of our learning paths, you can start from the fundamentals to highly specialized training.

How up-to-date are your courses and support materials?

We continuously work with our vendors to evaluate and refresh course material to reflect the latest training courses and best practices.

Are your instructors seasoned trainers who have deep knowledge of the training topic?

Ascendient Learning instructors have an average of 27 years of practical IT experience and have also served as consultants for an average of 15 years. To stay current, instructors spend at least 25 percent of their time learning new, emerging technologies and courses.

Do you provide hands-on training and exercises in an actual lab environment?

Lab access is dependent on the vendor and the type of training you sign up for. However, many of our top vendors will provide lab access to students to test and practice. The course description will specify lab access.

Will you customize the training for our company’s specific needs and goals?

We will work with you to identify training needs and areas of growth.  We offer a variety of training methods, such as private group training, on-site of your choice, and virtually. We provide courses and certifications that are aligned with your business goals.

How do I get started with certification?

Getting started on a certification pathway depends on your goals and the vendor you choose to get certified in. Many vendors offer entry-level IT certification to advanced IT certification that can boost your career. To get access to certification vouchers and discounts, please contact info@ascendientlearning.com.

Will I get access to content after I complete a course?

You will get access to the PDF of course books and guides, but access to the recording and slides will depend on the vendor and type of training you receive.

How do I request a W9 for Ascendient Learning?

View our filing status and how to request a W9.

Reviews

I thought the course was informative and the tools to go over the material were very nice.

Easy to use and exactly what I was looking for. Value for money was exceptional.

I was very satisfied about how the course was organized. Sean Did a very good work

had a good time with the course, however some topics were left out due to the compact amount of time for training.

The class covered the concepts needed for the AWS Cloud Practitioner Certification.