Earned Value Management Training

FAQs

• Is this course accredited?

  Yes, it is accredited by APMG

• What is the experience of the Instructor(s) delivering my course?

  All of our instructor are fully accredited and have over ten years of experience in Earned Value Management methodologies

• What do you provide me on the course?

  We provide, the official APMG Earned Value Manual, the courseware folder, official certificate and refreshments

• Does the course include exams?

  Yes, it includes the Foundation & Practitioner exam

• Are there any prerequisites for the Earned Value Management examination?

  There are no prerequisites but you must pass at Foundation level prior to taking the Practitioner exam

• What is the structure of the exam

  Closed book multiple choice

• What time shall I arrive at the venue?

  Please arrive at your training venue for 08:45am

• What pre-course reading material is supplied?

  We provide, in advance, the Earned Value Management: APM Guidelines booklet to which we would request you read chapters 1 to 4 and work through Appendix A and C

• Is there homework?

  There will be approximately, 2 hours of homework per evening

Overview

Earned Value Management (EVM) is a fundamental process in both the APM’s and PMI Bodies of Knowledge and has it roots in the United States Department of Defense (DOD) Cost/Schedule Control Criteria System (C/SCSC), which has been specified for all DOD contracts for which the US government carries the risk since 1967. EVM is heavily used in the defense, nuclear, telecommunication and transport sectors and is closely linked to a development of organisational project management maturity.

Earned Value Management is a simple practical concept with significant benefits for project managers including:

An integrated view of the key elements of project status, planned cost, project progress and actual expenditure

The ability to rapidly determine the status of a project based on performance indexes

The ability to rapidly highlight work packages what are overspending and / or behind plan

An estimate of cost at completion and completion date

This course provides an introduction to the concepts, benefits, principles and processes of Earned Value Management. In particular, it will show how to implement Earned Value Management successfully, while defining the conditions that inhabit effective project performance management.

You will learn about Earned Value Management tools and techniques, from the creation of the project WBS right through to successful delivery of regular earned value reports and what those reports mean. Earned Value (EV) is a proven method for planning and managing project performance. In addition to establishing a consistent way of planning and estimating all types of project work efforts, it provides the framework for developing consistent project management measurements across projects and industries. It is a true project performance measurement system combining aspects such as actual physical achievement and costs incurred, and comparing with planned and budgeted expectation.

This course is based on the Association for Project Management guidance on Earned Value Management, and includes the associated Earned Value Management Foundation examination administrated by APM Group. It is aimed at all Project, Programme and Business Management Personnel who require an understanding of the principles, practices and issues of Earned Value Project Management

EVM is the best way to determine the real status of a project, it is a project control process based on a structured approach to planning, cost collection and performance management. It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.

EVM builds on, and therefore enforces good Project Management practice and underpins good corporate governance. EVM provides an objective measurement of what has been achieved on a project

EVM enables accurate forecasting

EVM provides project management information in a format that is easy for all stakeholders to understand and act upon

EVM is an Early Warning System that allows the timely identification and analysis of progress and cost issues and corrective actions to be indentified

EVM shows stakeholders whether they’re getting Value for Money

EVM enables detailed project comparisons across programmes

EVM can be used on a wide range of project sizes and complexity

What will I get from the course?

Define the concepts of Earned Value

Select and deploy Earned Value formulae

Describe the Earned Value Process

Explain different levels of System Review

Pass the APMG Examination

Pre-Requisites

We recommend as a pre-requisite that you read chapters 1 to 4 of the official Earned Value Management Guidelines booklet prior to attending. This booklet will be shipped to you in advance of the course.

Examination

The Foundation exam tests the candidate’s knowledge of Earned Value terminology and is made up as follows:

Multiple Choice

40 questions per paper

26 marks required to pass (out of 40 available) – 65%

60 minutes duration

Closed book (uses a simple calculator)

Course Content

GENERAL

Overview of EVM

APPLICABILITY

When can EVM be used

BASIC REQUIREMENTS FOR AN EARNED VALUE SYSTEM

What needs to be in place t operate EVM

WHAT IS EARNED VALUES MANAGEMENT?

Earned Value Management Principles – maintaining and establishing the project goals

What are the Benefits? – the advantages of EVM over other monitoring tools

Using Performance Managements – overview of how the indicators are used

PROCESS DISCUSSION

Definition – Define the Project Scope; breakdown structures (WBS & OBS); Responsibility Matrix

Planning – Developing a time scaled network diagram; apply resources; distribute budgets; measure progress; base lining

Data Collection – Capture and verification of data collected

Analysis, Review and Action – Analyse and update control accounts; take corrective action and test these for reasonableness

Change Management – Ensure control account changes are managed, approved and implemented

Risk Management – Ensure all risks are integrated into EVM

SYSTEM REVIEW

Integrated Baseline Review (IBR) – Assess the content and integrity of the PMB

Demonstration Review – Assess the project and management systems

Surveillance – Assess the maintenance of standards

What's Included

• Official APMG Earned Value Manual
• The courseware folder
• Exam
• Refreshments

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