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Earned Value Management Systems (UMTPM016)   Register Online
 
Overview

This course examines in depth what some experts have called the single most important innovation in project management since the development of PERT/CPM networks. Earned value management (EVM) enables project staff and customers to keep track of cost and schedule performance on projects. Many people have likened it to a dashboard that provides early warning of incipient problems on projects. While it was originally developed to deal with major programs, it can be used productively on projects as small as $10,000.

EVM underwent a major change in the late 1990s, when the US Defense Department shifted responsibility for maintaining EVM from itself to the American National Standards Institute (ANSI) and the Electronic Industries Association (EIA). The course looks at differences between the old DODI 7000.2 standard (Defense Department) and the new ANSI/EIA-748-A standard. Because a large portion of the Federal government continues to employ the old approach, the course uses both traditional and contemporary EVM nomenclature, so that both Federal and non-Federal students can follow the course content readily.

The treatment of EVM in this course is compliant with the PMBOK Guide, PMI's Practice Standard for Earned Value Management, and ANSI/EIA-748-A.

Objectives

To learn how to build Earned Value Management (EVM) processes, compute work performance (Earned Value), analyze cost and schedule performance, and comply with the new EVM standards (ANSI/EIA-748-A).
What You Will Learn

  • The central role of assessing work performance when engaged in integrated cost/schedule control
  • Measuring earned value, using the following techniques: weighted milestones, fixed formulas, and percentage complete
  • Setting up EVM systems and tailoring them to your organization's circumstances
  • Understanding the five high-level EVM criteria found in both DODI 7000.2 and ANSI/EIA-748-A
  • Generating Cost Schedule Status Reports (CSSRs) and analyzing information contained in them
  • Using EVM techniques to assess cost and schedule status, and to forecast final project costs (called Estimate at Complete, EAC)
  • What needs to be done to evaluate whether your EVM system is compliant with the guidelines provided in ANSI/EIA-748-A

PMBOK® Guide Process Areas

  • Planning
  • Executing
  • Controlling

PMBOK® Guide Knowledge Areas

  • Project Integration Management
  • Project Time Management
  • Project Scope Management
  • Project Cost Management

Instruction

  • Course modules containing cutting-edge knowledge developed by renowned experts in project management
  • A set of readings including key Earned Value Management (EVM) documents
  • Think & Review section for each module
  • Answers to the Think & Review section
  • Final exam
  • Certificate of Completion

 
 
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