Earned Value Fundamentals
Duration: 2 Days
Course level: Beginner to Intermediate
Gain control of your project progress to deliver results.
How do you know when a project isn’t performing to plan? Earned Value Analysis is a method of measuring true progress of projects by comparing cost and work performed against the project plan. In simple terms the use of earned value in project management tells you whether you are ahead of or behind schedule, and whether you have spent more or less than budgeted on the work already performed. Thus, the earned value management system facilitates project control, enabling you to measure, forecast and take appropriate actions to deliver your projects on time and within budgets.
Prerequisites: Attendees should have fundamental knowledge of project planning and processes.
What you will gain from this course:
- An understanding of the earned value concepts, and how to apply them to your projects to maintain maximum control.
- Calculate earned value measures.
- Integrate earned value into your project management systems.
- Using earned value to identify project risks.
Who should attend this course:
- Program or project managers and team members who are involved in managing and measure project progress and risk.
Course agenda:
- Introduction and the basics of EVA
- Why use earned value
- Summary of the earned value concept
- Key definitions
Planning to use earned value management
- Requirements for successful implementation
- Establishing project baselines
- Data collection and management methods
EVA calculations
- Cost and schedule variances
- Cost and schedule variance indexes
- Forecasting results
- Project estimating
Practical applications of EVA
- Integrating EVA with risk management
- Worked examples of EVA applications
- In class practical exercise
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