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Earned Value Management Fundamentals

EVMI® 101: Earned Value Management Fundamentals Course is approved by the United States Federal Government Federal Acquisition Institute (FAI) for FAC-P/PM: http://www.fai.gov/certification/VendorConsortium.asp#EVMI

EVMI® 101: Earned Value Management Fundamentals Course

DURATION: 2 DAYS

COURSE HIGHLIGHTS:

You Must Assume Full & Total Control Of Your Projects Now! Don’t let your project tailspin into a disaster! Take full control of your project! Do not let your project control you! You can achieve this goal by being proactive in its monitoring and control rather than being reactive. Apply the use of Earned Value in Project Management to promote effective project planning, monitoring, and control. We will help set up an early warning system that will give you early signs of trouble with your project health. Also discover the keys used to identify potential cost and schedule overruns and grasp the tools and techniques that needed to compare actual work accomplished against baseline schedules and cost.

Above all we will set you on path to recognize what must be done to successfully implement and use Earned Value in your organization utilizing the ANSI-748a Standards & Guidelines

THIS CLASS WILL ENABLE YOU:

·         Trace the importance of Earned Value

·         Discuss the importance of Earned Value in today's organization

·         Explain the relationship between the cumulative cost curve and the project budget

·         Develop a control account plan and establish a performance measurement baseline

·         Calculate cost and schedule variances and use them to monitor project performance

·         Forecast final cost and schedule results using the cost and schedule performance indices

·         Identify what must be done to implement Earned Value effectively

·         Use statistical process control tools and techniques to improve project performance

·         Understand the ANSI-748b Standards and Why You Need to Be Compliant

Section 1: Key Earned Value Concepts

·         Explain the Earned Value concept

·         Describe the objectives of Earned Value

·         Explain how Earned Value is integral to project management

·         Discuss the ANSI 748-a EVM guidelines (all 32 criteria)

Section 2: Earned Value Management Principles

·         Define the three processes necessary for Earned Value

·         Establish actual work to be done

·         Determine realistic costs and schedules

Section 3: Planning Process

·         Review different earned value measurement methods

·         Prepare a Control Account Plan

·         Create a Performance Measurement Baseline

Section 4: Earned Value Management Definitions & Formulas

·         Determine the factors of Planned Value, Actual Costs, and Earned Value

·         Calculate cost and schedule variances

·         Identify the challenges in determining Earned Value on materials and subcontracts

Section 5: Earned Value Definitions and Formulas: Analysis

·         Calculate Cost and Schedule Indices (CPI and SPI)

·         Calculate the To Complete Performance Index (TCPI)

Section 6: Forecasting

·         Computing Estimates to Complete (ETC)

·         Computing Estimates at Completion (EAC)

·         EAC Methods

Section 7: Earned Value Management Implementation

·         Identify prerequisites to implementing Earned Value

·         Describe barriers to Earned Value implementation

·         Explain current Federal guidelines for Earned Value Management: Department of Defense, OMB etc

PLEASE NOTE:  Onsite offerings requires a minimum of 10 participants. Payment in full must be received two weeks before the start of class.

***Upon completion of your Earned Value Management Fundamentals course, a course completion certificate will be mailed in 5 to 10 days.

EVMI® Earned Value Management Institute® offers world class training for the following world class credentials and programs which are ALL also registered trademarks and trademarks of EVMI® in the USA and in other nations: 'EVMP® Earned Value Management Professional®'; 'CAEVM™ Certified Associate in Earned Value Management'™'; 'CEVO® Chief Earned Value Officer®'; RQMP® Risk & Quality Management Professional®' ; 'SPMP™ Schedule and Planning Management Professional™';  'CCAM® Certified Control Account Manager®'; 'EVMI-CJPA™ EVMI Certified Junior Project Associate™'; 'EVMI-CPP™ EVMI Certified Project Practitioner™'; 'McPM™ Master's Certification in Project Management™'; 'BCPM™ Bachelor's Certification in Project Management™';  'APPM™ Advanced Project and Program Management™'; 'MPOTA™  Masters Certification in Project Oversight, Transparency and Accountability™'; and 'MPMEVM™ Masters Certification in Project Management and Earned Value Management™'.

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