Earned Value Management is a project control process based on a structured approach to planning, cost collection and performance measurement. It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.
Earned Value Management is a project control process based on a structured approach to planning, cost collection and performance measurement.
It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.
Earned Value Management concepts are included in the PMBOK and are tested on the Project Management Professional PMP Certification Exam.
APMG UK also offers Earned Value Management Certification Exam which is a good qualification to have. The establishment of a Performance Measurement Baseline (PMB) is essential to conducting successful EVM and consists of:
Defined scope and assumptions
Activities scheduled in logical sequence
Resources / costs (labour and materials)
Why Use Earned Value Management?
EVM is the best way to determine the real status of a project. As well as telling you how much you have spent, it shows you how much you have achieved. Further, it tells you how much you still need to do and provides a good indication of final costs and expected completion dates
EVM provides an objective measurement of what has been achieved on a project
EVM enables accurate forecasting
EVM is an Early Warning System that allows the timely identification and analysis of progress and cost issues and corrective actions to be identified
EVM shows stakeholders whether they’re getting Value For Money
EVM enables detailed project comparisons across programmes
EVM can be used on a wide range of project sizes and complexity
Improves the way you manage your Projects
Eligibility Criteria For The Earned Value Management Certification Course
A basic understanding of project management and/or financial management, project planning and scheduling and basic concepts on scope, time and cost planning and management.
Deliverables
Pre-Course Reading Material
Student Handbook
Crosswords and Quizzes
Assignment and Exercises
Project Case Study
Useful Templates and Formula Sheets
Benefits Of Doing This Course
It provides data to measure project status objectively
It provides a basis for estimating final cost
It predicts when the project will be complete
Supports the effective management of resources
It helps manage and control change
It enables informed and effective decision making by knowing
What has been achieved of the plan
What it has cost to achieve the planned work
If the work achieved is costing more or less than was planned
If the project is ahead or behind the planned schedule
APMG Earned Value Management Certification Exam Overview
40 Simple and Complex multiple-choice questions
60 minutes duration
Closed-book
26 correct answers out of 40 are required to pass (65%)
The exam is currently paper
Why ProjectingIT?
Accredited Training Organisation ATO for PRINCE2® and Agile Project Management Certification and Trainings
Trained over 5000+ professionals on best practice project management
Accredited and Experienced Trainers
Hands-on training based on real time project scenarios
2500+ Certified Professionals
Designed with maximum interactive group workshops
We don’t just talk about theory, we ‘walk the talk’
You take away with valuable course material, hand outs and templates to support you on your projects
We help you take it beyond trainings and implement it
You earn contact hours PDU to retain your PMP certificate
Earned Value Management Certification Training Course and Workshop is offered across India in Mumbai, Pune, Delhi, Kolkata, Chennai, Delhi, Noida, Gurgaon, Chandigarh, Ahmedabad, Vadodara, Bangalore, Hyderabad, Nagpur, Indore.
Delegates from Australia, New Zealand, Singapore, Malaysia, Philippines, Thailand, China, Dubai, Middle East, Abu Dhabi, India, South Africa, United Kingdom, Netherlands, Germany, USA and Canada can attend the training from there desktops by attending live online instructor led training course.
What Will You Learn?
To understand and apply the concept of Earned Value Management
Define Earned value and Earned Value Management System
Understand the benefits of using EVM
Describe and understand the basic EVM Terminology
Understand the basic elements of Earned Value Method
To be able to implement EVM within a typical project
List the planning elements that are essential to setting up projects for Earned Value reporting
Understand the Earned Value formulas and demonstrate how to apply them correctly
Demonstrate how to apply Earned Value to status current project performance and forecast project completion
Be able to describe how to measure progress & cost against plan and produce performance metrics
Use Microsoft Project to see how EVM can be implemented using a software
Course Duration
Project Management Framework and Processes
Common Challenges in Project Reporting
How does EVM help?
What is Earned Value Management
Process of using Earned Value Management
Developing a Work breakdown structure
Determining the project schedule and budget
Using project baseline for performance measurement
Elements and basic concepts of EVM
Requirements of EVM – Collecting Data
Calculation of Earned Value Performance Measures
Understanding Planned Value and Earned Value
Calculating Schedule Variance (SV) and Schedule Performance Index (SPI)
Calculating Cost Variance (CV) and Cost Performance Index (CPI)
Forecasting Estimate at Completion EAC
Forecasting Estimate to Complete ETC
Forecasting Variance at Completion VAC
To Complete Performance Index TCPI using Budget at Completion BAC
To Complete Performance Index TCPI using Estimate at Completion EAC
Tracking progress & Monitoring schedule
Managing and Control Changes and Baselines
Reporting variances and using Graphs
Analyzing EVM reports
Management decision and action
Implementing Earned Value Management
Using Tools and Templates
Using Microsoft Project for Earned Value Management
Earned Value Management Tables in Microsoft Project
Earned Value Management Columns in Microsoft Project
How to set-up Microsoft Project for Earned Value Reporting
Customizing Views, Reports and Visual Reports in Microsoft Project for EVM
Taking Corrective and Preventive Actions
Measuring Level of Effort
Applying to Fixed Price Contracts
Applying EVM Techniques to the Maintenance Phase and Managing Production Support
Committing the Reserves
Applying EVM to the Critical Path Calculations
Target Audience
The target audience for the program are professionals interested in understanding and implementing Earned Value Management for progress reporting including Project Managers, Team Managers, Executives, Portfolio Managers, Sponsors, Project Leaders, Project Co-ordinators, Program and Delivery Managers, Quality Staff (Testing and Quality Assurance), PMP, PRINCE2®, Testers and Project Controller (PMO Office) and those who want to attend training workshops to earn Professional Development Units [PDU] for their continued learning.
ProjectingIT is a leading project and programme management training company. We provide expert consultancy and resources on development of project management and delivery management processes.
We provide expert consultancy and resources on development of project management and delivery management processes.
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