Earned Value Management- Made Easy

Mangement series

What you'll learn

Understand the fundamental principles of Earned Value Management (EVM), including the three key elements of planned value, earned value, and actual cost, and ho

Learn how to calculate and interpret key EVM metrics, such as the cost variance (CV), schedule variance (SV), cost performance index (CPI), and schedule perform

Develop skills in creating and analyzing EVM reports, including graphical representations of project performance data, and using this information to communicate

Gain knowledge of advanced EVM topics, such as integrating EVM with other project management methodologies, conducting risk analysis and contingency planning, a

Develop skills in using Earned Value Management to forecast project outcomes and make data-driven decisions. This includes learning how to use EVM data to creat

Requirements

no prerequisites or other requirements

Description

This course is suitable for project managers, program managers, project controls professionals, and other professionals involved in project management who are interested in gaining a deeper understanding of how to effectively monitor and control project performance. The course is particularly useful for those working in industries where project management is critical, such as construction, engineering, defense, and aerospace, but it can be applied to any industry where projects are used to accomplish business objectives. Additionally, the course may be beneficial to anyone who is seeking to earn a certification in project management, such as the Project Management Professional (PMP) or the Certified Project Manager (CPM) certification.Develop skills in using Earned Value Management to forecast project outcomes and make data-driven decisions. This includes learning how to use EVM data to create accurate estimates of project completion, identify potential problems early on, and make adjustments to the project plan to ensure that project goals are achieved on time and within budget. By the end of the course, participants should be able to confidently use EVM to plan and manage projects, identify potential risks and challenges, and make informed decisions based on real-time data.There are four potential learning objectives for an Earned Value Management course:Understand the fundamental principles of Earned Value Management (EVM), including the three key elements of planned value, earned value, and actual cost, and how they are used to track project performance and estimate project completion.Learn how to calculate and interpret key EVM metrics, such as the cost variance (CV), schedule variance (SV), cost performance index (CPI), and schedule performance index (SPI), and use them to identify project performance trends, potential issues, and areas for improvement.Develop skills in creating and analyzing EVM reports, including graphical representations of project performance data, and using this information to communicate effectively with stakeholders, such as project sponsors, customers, and team members.Gain knowledge of advanced EVM topics, such as integrating EVM with other project management methodologies, conducting risk analysis and contingency planning, and applying EVM to complex or multi-project environments, and use this knowledge to improve project performance and increase the likelihood of project success.

Overview

Section 1: Introduction

Lecture 1 What is Earned Value Management?

Lecture 2 History and evolution of EVM

Lecture 3 Why use EVM?

Section 2: Key Elements of EVM

Lecture 4 Planned value (PV)

Lecture 5 Earned value (EV)

Lecture 6 Actual cost (AC)

Section 3: Calculating EVM Metrics

Lecture 7 Cost variance (CV)

Lecture 8 Schedule variance (SV)

Lecture 9 Cost performance index (CPI)

Lecture 10 Schedule performance index (SPI)

Lecture 11 Estimate at completion (EAC)

Lecture 12 Variance at completion (VAC)

Section 4: Interpreting EVM Metrics

Lecture 13 Identifying project performance trends

Lecture 14 Identifying potential issues and risks

Lecture 15 Determining project completion forecasts

Lecture 16 Identifying areas for improvement

Section 5: Implementing EVM on Projects

Lecture 17 Establishing a baseline plan

Lecture 18 Setting up an EVM system

Lecture 19 Collecting and analyzing data

Lecture 20 Reporting EVM results

Lecture 21 Monitoring and controlling project performance

Section 6: EVM in Project Management Systems

Lecture 22 Integrating EVM with other project management processes

Lecture 23 Using EVM in agile and lean project management

Lecture 24 Applying EVM in different industries and project types

Section 7: Best Practices for EVM Implementation

Lecture 25 Avoiding common pitfalls and mistakes

Lecture 26 Incorporating EVM into project management culture

Lecture 27 Continuously improving EVM processes and techniques

Section 8: Conclusion and Next Steps

Lecture 28 Review of course material

Lecture 29 Recommendations for further learning and practice

Lecture 30 Closing thoughts on the value of EVM in project management

Section 9: Assignment

An Earned Value Management course is suitable for project managers, program managers, project controls professionals, and other professionals involved in project management who are interested in gaining a deeper understanding of how to effectively monitor and control project performance. The course is particularly useful for those working in industries where project management is critical, such as construction, engineering, defense, and aerospace, but it can be applied to any industry where projects are used to accomplish business objectives. Additionally, the course may be beneficial to anyone who is seeking to earn a certification in project management, such as the Project Management Professional (PMP) or the Certified Project Manager (CPM) certification.,Other professionals involved in project management who are interested in gaining a deeper understanding of how to effectively monitor and control project performance. The course is particularly useful for those working in industries where project management is critical, such as construction, engineering, defense, and aerospace, but it can be applied to any industry where projects are used to accomplish business objectives. Additionally, the course may be beneficial to anyone who is seeking to earn a certification in project management, such as the Project Management Professional (PMP) or the Certified Project Manager (CPM) certification.