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 DURATION | LANGUAGE | CERTIFICATE |
2 Days Online: 5 sessions (15 hours) | English | DISS |
| *Please notify us if an interpretation is required |
COURSE OBJECTIVES
The audience will receive a 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 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 OUTLINE
| DAY 1 | DAY 2 | DAY 3 |
| GETTING STARTED • Introductions • Course structure, goals, and objectives PRELIMINARY TOPICS OF PROJECT MANAGEMENT • Project works and Operation works • Definition of project • Triple constraints • Project life cycle and its characteristics • Stakeholders • Project Scope vs. Product Scope • Project Deliverables • PMBOK Process Group • PMBOK Knowledge area 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 the WBS development process (decomposition) • Using a WBS to support EVM DEFINE PROJECT ORGANIZATION • Different types of Organizational Structure • Cost / Control Account • Responsibility Assign Matrix | PREPARE PROJECT BUDGET • Types of Costs • Different types of estimation • Reserve Analysis • Project Budgeting Structure BUILDING A PROJECT BASELINE • Defining a project baseline • Developing a project baseline • Using a project baseline RECORDING ACTUALS • Recording actual 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) • Analyzing 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 PROJECT ACCOUNTING • Preface • HR costs Accounting • Material and Procurement Accounting • Identify and calculate Material cost deviations • Identify and calculate Material consumption deviations • Identify extraordinary Material wastage • LOE activities accounting MONITORING PROJECT • Cost Performance Report (CPR) • Project Reporting • Graphical Reports CONTROL CHANGES AND RETAIN BASELINES • Maintain Baseline • Re-planning • Internal changes recording • External changes recording |
COURSE TYPE: VIRTUAL CLASSROOM
ON-DEMAND
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TESTIMONIAL
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