- Course overview
- Course details
- Prerequisites
Course overview
About this course
Project performance measurement is critical to successful project management. Earned Value Management (EVM) helps to monitor the health and status of a project and hence is an integral part of project management. This workshop will help you fully integrate the principles and fundamentals of EVM in a simple and practical approach.
Risks are a part of any project, but if not contained it may result in cost and schedule overruns thus affecting the scope of the project. Projects worldwide get into schedule delays and cost overrun and fail causing severe loss to the organization and the global economy. EVM techniques are widely practiced across organizations to mitigate schedule and cost risks. Using EVM, project teams can create a measurable project baseline by estimating and quantifying the value of work to be achieved at different milestones of the project schedule. This provides them a proven technique for measuring actual work accomplished and actual money being spent by those milestones, and the ability for effective calculation of schedule and cost variances. This further enables them to make meaningful forecasts for the projects and programs. This is an important aspect of project management that helps project managers reduce risk and increase the chances of project success.
Audience Profile
- Project managers
- Program managers
- Portfolio managers
At course completion
After completing this course, students will be able to:
- Facilitate the integration of project scope, time and cost objectives
- Establish a baseline plan for performance measurement (Performance Measurement Baseline – PMB)
- Understand the EVM data (PV, EV, AC, BAC, SPI, CPI, EAC, TCPI)
- Provide an objective measurement of project status in relation to cost, scope and timescales
- Enable accurate forecasting for projects and programmes
- Enable detailed project comparisons across programmes
- Demonstrate to stakeholders whether they are getting value for money
- Make suggestions to stakeholders as to how project value can be increased
Course details
Module 1: Introduction to the projects and project triple constraints
Module 2: Reasons for project failure
Module 3: Understanding the sample project case study and the objective
Module 4: Preparing to develop a new Project Plan
- Collecting project requirements
- Making a Scope Statement
- Developing a Work Breakdown Structure (WBS)
- Developing Project Schedule (Network Diagram, Critical Path and Float)
- Resource Planning (RACI and Org Chart)
- Cost Estimation and Budgeting
- Communication Planning
- Risk Planning
- Base lining your plan
Module 5: Project Implementation
- Execution (Acquiring team, building team and managing team, Assign responsibilities)
- Monitoring (Actual Vs Plan, Calculating Variance of Scope, Time and Cost))
- Controlling
- Scope Control
- Schedule Control (Crashing and Fast Tracking)
- Cost Control
- Quality Control
- Validate Scope
- Managing Change
Prerequisites
Some prior experience of planning of projects and programs.
Enquiry
Course : Fundamentals of Earned Value Management
Enquiry
request for : Fundamentals of Earned Value Management
