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Earned Value Management System
overview

What is earned value management (EVM)? The basic concept of EVM is more than a unique project management process or technique.  It is an umbrella term for 32 guidelines that define a set of requirements that a contractor’s management system must meet.  The objectives of an EVMS are to:

  • Relate time phased budgets to specific contract tasks and/or statements of work.
  • Provide the basis to capture work progress assessments against the baseline plan.
  • Relate technical, schedule, and cost performance.
  • Provide valid, timely, and auditable data/information for proactive project management analysis and action.
  • Supply managers with a practical level of summarization for effective decision making.
course details
COURSE DURATIONLANGUAGECERTIFICATE
2 DaysEnglishDISS Certificate
 *Please notify us if an interpretation is required 
course benefits/progression opportunities
Course objectives

The audience will receive complete understanding of the 32 guidelines in the EIA-748 Standard for EVMS are divided into five sections which are discussed below.

  • Organization
  • Planning, Scheduling and Budgeting
  • Accounting Considerations
  • EVMS Analysis and EVMS Management Reports
  • Revisions and Data Maintenance
course outline
Day 1Day 2

Getting Started

  • Introductions
  • Course structure, goals, and objectives

Foundation Concepts

  • Introduction to Earned Value Management (EVM)
  • Benefits of EVM
  • EVM Process Overview
  • Applications of EVM

The Work Breakdown Structure (WBS)

  • Reviewing WBS concepts
  • Reviewing WBS development process (decomposition)
  • Using a WBS to support EVM

Building a Project Baseline

  • Defining a project baseline
  • Developing a project baseline
  • Using a project baseline

Recording Actuals

  • Recording actuals overview
  • Collecting data for actual project performance
  • Determining earned value – various methods

EVM Performance Measures

  • Overview of EVM measures
  • Using current status measures
  • Variance (CV, SV)
  • Performance indices (CPI, SPI)
  • Using forecasting measures
  • Estimate at Completion (EAC)
  • Latest Revised Estimate (LRE)
  • To Complete Performance Index (TCPI)
  • Analysing EVM measures
  • Responding to Variances

Reporting Project Performance

  • EVM reporting overview
  • Meeting EVM reporting needs
  • Addressing EVM reporting challenges

Implementing an EVM System (EVMS)

  • Defining EVMS requirements
  • Tailoring the EVMS
Course methodology

The format of the Three-day workshop is a series of brief lectures followed by discussion and hands-on exercises. Case studies and real-life examples are used to illustrate success and failure

COURSE TYPE: CLASSROOM
DATETIME
28 Oct 20208:00 – 14:00 (QATAR)
 9:00 – 15:00 (OMAN)

 

TESTIMONIAL

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Meet THE INSTRUCTORS
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