Project Management The Earned Value Approach
This 3-hour Webinar is a complete introduction to Earned Value Management techniques: what they are, how to use them, how to plan your project to take advantage of EVM, how to calculate the key components of EVM and use them them to derive cost and schedule variances, and how to use this data to complete standard US government reporting forms.
In the first session, we introduce the basic concepts and terms, learn how to make Earned Value calculations, see how to effectively integrate cost and schedule data, how to generate Earned Value performance reports, how to calculate EVM variances, and how to predict future project performance. We also discuss Earned Value Management Systems and introduce the ANSI/ EIA compliance criteria. You will also hear many practical suggestions and ideas for implementing and using the methods presented, based on more than 30 years of experience using these techniques.
The second session will take you step-by-step through a real project example using Earned Value Project Management techniques. You will walk through the weekly EVM reporting cycles and see how the Earned Value techniques reveal where the project is headed and what happens as the project is executed. You will see both numerical and graphical EVM data and how they work together in a simple workbook based on a real project with typical real project issues. You will also be introduced to the five basic standard reports mandated by the federal government and learn how to generate the Earned Value data needed to complete them.
What You will Learn (Session #1)
- What is Earned Value Management?
- Where Earned Value Management came from and why it is mandated.
- What is so special about Earned Value Management and how does it apply Work Breakdown Structure (WBS) and Organizational Breakdown?
- What is the concept of earned value and different methods of calculating earned."
- What are the EVM data points and how you calculate: BCWS (PV), BCWP (EV) and ACWP (AC).
- How to calculate EVM variances and Performance Indices and how to produce integrated performance reports.
- How to use EVM to predict future project performance.
- What the features of the ANSI/ EIA compliance criteria are and a review of compliance systems.
What You Will Learn (Session #2)
- How to setup a simple workbook based earned value report.
- How a project looks in the workbook as time passes and EVM data is reported.
- What you can observe in the EVM data points.
- How to read the graphical data.
- How to read the tabular data.
- How to complete and read the 5 standard Contract Performance Reports.
- Suggestions for requiring EVM in your procurements.
Who Should Attend this Class?
- These classes will benefit procurement managers, technology managers, engineering managers, and construction managers who want to learn the value of using EVM techniques to manage their projects and to employ them in their procurements.
- The classes will be of great benefit to all C-level managers who may be contemplating government supply contracts that require EVM methods and need to understand these techniques and how they can be implemented.
- Subjects addressed will benefit any Project Manager trying to use the best possible methods to analyze project performance and accurately predict project outcomes.
