Making Decisions Using Earned Value Management
This two-day, elective course covers the essential elements of earned value management (EVM) as it is used as a tool in program and project management. This course broadly covers the key principles and tools used in developing the EVM budget matrix for important projects. Participants will also touch on accounting considerations and analysis and management reports.
The EVM process is an excellent tool to improve the planning process as it helps define the scope of work and establishes clear responsibilities for the work to be accomplished. This tool gives an integrated view of technical, schedule, and cost performance and provides advanced visibility into potential problems. It is a great tool for projects requiring accountability as it is fully transparent.
• Recognize and read a Work Breakdown Structure (WBS)
• Plan, schedule, and establish the time-phased budgets for the task
• Know how to resource load the schedule
• Understand how to interpret the contract budget base with the use of a performance measurement baseline (PMB)
• Learn the red flags for full accountability