Course Overview

Financial accountability is at the top of the President’s agenda and the ripple effect flows all the way down to individual project managers and their responsibility to ensure that projects are effectively planned, executed and completed within the agreed upon cost and schedule commitments. With this increased focus on financial accountability, government agencies have increased the number of contracts requiring earned value management (EVM) and private industry businesses are implementing EVM as a method for controlling internal project costs.

In this 2-day class, you will learn how to establish and manage to an effective and realistic performance measurement baseline (PMB) using ANSI-compliant earned value management practices. We will take you beyond EVM terms and definitions to applying earned value management techniques. Through extensive use of hands-on exercises, you will learn how to organize the project work for effective control, plan the project scope, schedule and cost baselines, establish the performance measurement baseline, manage performance through the use of control account plans, measure and analyze performance, plan and execute corrective actions, forecast future performance based on past performance, report on project performance and manage changes to the PMB. 

• 14 PDUs / contact hours
• PMP Certified Instructors
• Hands-on exercises
• Includes light breakfast, lunch and afternoon snacks

Course Objectives

 Upon successful completion of this course, students will be able to:

• Demonstrate an Understanding of Earned Value Management Concepts
• Define the Project Scope, Schedule and Cost Baselines
• Establish the Performance Measurement Baseline (PMB)
• Identify Earned Value Measurement Techniques
• Determine and Apply Project Status Updates
• Calculate Earned Value and Cost and Schedule Variances
• Analyze Project Performance and Make Forecasts
• Analyze Variances and Identify Corrective Action Plans
• Prepare Project Performance Reports
• Perform Integrated Change Control on the PMB

Upcoming Course Dates and Locations

This class is also available as a private, onsite class. Give us a call at (877) 282-2882 for details!

Discounts

• $100 discount for PMI members 
• 10% discount for groups of 3 or more
• 10% Government employee discount

Course Content

  Setting the Stage – Overview of Earned Value Management

• Earned Value Management as a project management methodology
• EVM Key Features and Attributes
• Objectives of Earned Value Management
• Basic Tenets of Earned Value Management
• What Earned Value Is (and Is Not!)
• Project management Using EVM versus Traditional Management
• NDIA ANSI Standard for EVMS

  Establishing the Scope Baseline

• Authorize the project
• Define the Scope
• Develop the Organization Breakdown Structure (OBS)
• Develop the Work Breakdown Structure (WBS) and WBS Dictionary
• Develop the Responsibility Assignment Matrix (RAM)

  Establishing the Schedule & Budget Baselines

• Develop Project Schedules
  • Develop the Integrated Master Plan
  • Develop the Control Account Plans
    • Identify Work Packages
    • Identify Earned Value Techniques
  • Develop the Integrated Master Schedule
• Develop Cost Baseline
• Establish Performance Measurement Baseline (PMB)
• Addressing Subcontracted Effort in the PMB 

    Addressing Risk in the Performance Measurement Baseline

• Technical Risks
• Schedule Risks
• Cost and Resource Risks
• Management Process Risks

  Updating Project Status

• Update Status of Schedule Activities
• Update Status of Work Packages
• Update Estimates to Complete
• Accumulate and Integrate Actual Costs

  Measuring Performance

• Calculate Earned Value
• Determine Cost and Schedule Variances
• Calculate Cost and Schedule Performance Indices

  Analyzing Performance 

• Analyze and Address Schedule Impacts 
• Perform Variance Analysis on Schedule and Cost Variances Exceeding Established Thresholds
• Perform Root Cause Analysis
• Initiate Corrective Actions

  Forecasting Future Performance Based on Past Performance

• Calculating Estimates to Complete (ETCs) and Estimates at Completion (EACs)
• Validating the Project EAC with the To-Complete Performance Index (TCPI)
• Determining and Addressing the Variance at Completion (VAC)

  Reporting Performance

• Demonstrating Performance Graphically
• Generating Performance Reports
  • Control Account Plan Reports (CAPs)
  • Cost Performance Reports (CPRs)
    • Cost Performance Report Format 1 (WBS)
    • Cost Performance Report Format 2 (OBS)
    • Cost Performance Report Format 3 (Baseline Changes)
    • Cost Performance Report Format 4 (Staffing)
    • Cost Performance Report Format 5 (Variance Analysis)

  Managing Baseline Changes

• Implementing a Change Control System
• Addressing Externally Directed Changes
• Addressing Internal Replanning Changes
• Formally Reprogramming Your Project
  • Over-Target Baseline (OTB)
  • Over-Target Schedule (OTS)