Introduction:

Earned Value Management (EVM) is a powerful project management technique that integrates project scope, schedule, and cost to assess project performance. This 5-day training course provides participants with an in-depth understanding of the key concepts and practical applications of EVM. By combining theory and hands-on exercises, participants will learn how to implement EVM on their projects, track progress, and forecast potential problems, ensuring projects stay on track and within budget. This course is suitable for project managers, team leads, and other stakeholders involved in monitoring and controlling project performance.

Objectives:

By the end of this course, participants will:

1. Understand the key principles and concepts of Earned Value Management.
2. Learn how to calculate and interpret EVM metrics, including Cost Performance Index (CPI) and Schedule Performance Index (SPI).
3. Understand how to integrate EVM into project planning and control processes.
4. Gain practical experience in applying EVM to real-world project scenarios.
5. Be able to identify project performance issues early using EVM and take corrective actions.
6. Learn how to use EVM to forecast project completion and cost outcomes.
7. Improve decision-making skills in managing project scope, schedule, and cost.

Who Should Attend:

This course is designed for professionals involved in project management, project control, and performance tracking, including:

• Project Managers and Team Leads
• Project Controllers and Coordinators
• Cost Estimators and Financial Analysts
• Engineers and Architects involved in project delivery
• Stakeholders responsible for project monitoring and reporting
• Professionals looking to enhance their skills in project performance management

Course Outline:

Day 1: Introduction to Earned Value Management

• Session 1: What is Earned Value Management?
  • Definition and Benefits of EVM in Project Management
  • Overview of EVM Terminology: Planned Value (PV), Earned Value (EV), Actual Cost (AC)
  • EVM vs. Traditional Project Management Techniques
• Session 2: Key Concepts and Metrics in EVM
  • Key EVM Metrics: Cost Performance Index (CPI) and Schedule Performance Index (SPI)
  • Variance Analysis: Cost Variance (CV) and Schedule Variance (SV)
  • Forecasting: Estimate at Completion (EAC) and Estimate to Complete (ETC)
• Session 3: The Role of EVM in Project Planning
  • Integrating EVM into Project Scope, Schedule, and Cost Management
  • Defining the Work Breakdown Structure (WBS) and Its Relationship to EVM
  • Setting Up Baselines: Scope, Schedule, and Cost Baselines
• Activity: Group Discussion – Understanding EVM Concepts through Real-Life Project Examples

Day 2: EVM Calculation and Interpretation

• Session 1: Calculating EVM Metrics
  • Planned Value (PV): How to Define and Calculate PV
  • Earned Value (EV): How to Assess the Value of Completed Work
  • Actual Cost (AC): Understanding the Cost of Work Performed
• Session 2: Analyzing Variances
  • Cost Variance (CV) and Schedule Variance (SV): Formulae and Interpretation
  • Identifying Project Performance Trends Using EVM
  • Understanding Positive and Negative Variances
• Session 3: Performance Indexes and Forecasting
  • Cost Performance Index (CPI) and Schedule Performance Index (SPI): How to Calculate and Interpret
  • Forecasting Project Completion and Final Costs Using EVM Metrics
  • Estimating Cost and Schedule Variance at Completion (VAC) and Estimate at Completion (EAC)
• Activity: Hands-on Exercise – EVM Calculations for a Sample Project

Day 3: Integrating EVM into Project Control

• Session 1: Using EVM for Monitoring Project Performance
  • EVM as a Performance Measurement System (PMS)
  • How EVM Tracks and Measures Progress Across Project Phases
  • Setting Performance Indicators and Milestones for Monitoring
• Session 2: EVM Reporting and Communication
  • Creating EVM Dashboards and Visual Reports
  • Reporting Project Status: Key Metrics for Stakeholder Communication
  • Using EVM to Present Accurate Project Forecasts to Stakeholders
• Session 3: EVM for Risk Management and Early Warning Systems
  • Identifying Project Risks Early Through EVM Metrics
  • Corrective and Preventive Actions Based on EVM Analysis
  • Using EVM for Decision Making and Risk Mitigation
• Activity: Workshop – Developing EVM Dashboards and Reporting Templates

Day 4: Advanced EVM Applications and Challenges

• Session 1: EVM in Complex Projects
  • Challenges in Applying EVM to Large or Complex Projects
  • Integrating EVM with Agile and Hybrid Project Management Approaches
  • Using EVM in Multiphase and Multi-Contractor Projects
• Session 2: EVM in Government and Large-Scale Projects
  • EVM Guidelines and Requirements for Government Projects (e.g., DoD, NASA)
  • Understanding the EVM System (EVMS) Certification Process
  • Compliance with EVM Regulations: ANSI/EIA-748 Standards
• Session 3: Advanced Forecasting Techniques
  • Calculating Estimate at Completion (EAC) Using Different Methods: CPI, SPI, and Performance
  • Analyzing and Adjusting EVM for Project Changes: Rescheduling, Scope Changes, and External Factors
  • Advanced Techniques for EVM in Long-Term Projects
• Activity: Case Study – Applying EVM to Complex or Large-Scale Project Scenarios

Day 5: Implementing EVM in Your Organization

• Session 1: EVM System Setup and Integration
  • Steps to Implementing EVM in an Organization: Tools, Software, and Best Practices
  • Training Team Members on EVM Techniques and Tools
  • Developing EVM Guidelines for Consistency and Accuracy Across Projects
• Session 2: EVM Software and Tools
  • Overview of EVM Software: Microsoft Project, Primavera, and Custom EVM Tools
  • Choosing the Right Software for Your Project Needs
  • Demonstrating EVM Software Features: Tracking, Reporting, and Forecasting
• Session 3: EVM Challenges and Best Practices
  • Common Pitfalls in EVM Implementation and How to Avoid Them
  • Best Practices for Ensuring EVM Accuracy and Reliability
  • Continuous Improvement and Evolution of EVM in Project Management
• Activity: Group Discussion – Developing an EVM Implementation Plan for Your Organization

Course Delivery:

• Interactive Sessions: Theoretical lectures combined with practical exercises to reinforce key concepts.
• Case Studies: Real-world case studies to demonstrate the application of EVM in different types of projects.
• Hands-On Exercises: Practical EVM calculations, forecasting, and reporting through group work and software demonstrations.
• Software Demonstrations: Introduction to popular EVM tools and software, including project management tools like MS Project and Primavera.