Course Overview

One of the toughest questions for a Project Manager to answer is “What is the Health of your project at hand?”. Project managers spend too much time and sweat just to calculate the status of the project and despite amazing excel and Power Point reports they do not feel that they have a real grip on the condition of the Project. What you really need is a more objective way to evaluate and control your project and to provide management accurate summary information. This course will take you beyond the calculations you have already learned. You will review key project documents to gain an understanding of their relationship to effective project evaluation and control using EVM. You will explore the challenges and approaches involved in establishing a baseline and obtaining accurate, timely and useful information to measure project performance with EVM. Working through an integrated case study designed to simulate real-world issues, problems and decisions, you will gain insight and experience in determining a realistic assessment of where your project actually stands. This approach allows you to practice new skills and ask questions as you assimilate a broad array of practical experience that can be immediately applied upon your return to the workplace. This engagement is designed around the Practice Standards For Earned Value Management by PMI, USA.

 

Who should attend?

• Sr. Management who want to implement project tracking system or want to analyze project data
• Government Program Managers who are responsible for performing Integrated baseline reviews on defense acquisitions contracts
• Technical Staff who are involved in Integrated Baseline Reviews or PMIS reporting
• Non-Defense Government Program Managers, Project managers, or technical staff applying earned value as an integral part of fixed assets planning
• Commercial Program Managers, Project Managers, or Project Team Members who need to apply EVMS criteria
• Members of the Project Management Office interested in establishing the best and most current EVMS processes
• Project managers who need to accurately understand current situation and also forecast outcome

 

Performance Focus

The goal of the course is to equip you with the necessary knowledge, skills and techniques so you can track a project across its lifecycle effectively and with least amount of spade work and yet determine the entire health of the project and take intelligent and informed project decisions. This would be done through a “Realistic Case study”.

 

What You Will Learn

• Develop the project baseline which is measurable
• Record actual project performance against the baseline
• Calculate all EVM measures and how do they help
• Evaluate project performance based on EVM measures
• Respond to project variances
• Integrate EVM and risk management
• Determine if EVM will add value to your organization
• Develop an EVM implementations plan for your organization

 

Training Content and Basic Outline of the course

Foundation Concepts

• Definition and benefits of EVM
• History of EVM and Cost and Schedule Control
• System Criteria (C/SCSC)
• Project applications of EVM

Building a Measurable Project Baseline

• Definition of project baseline
• Developing a project base line
• Using a project baseline

Recording Actuals

• Data collection for interpreting measures of current status and progress.
• Methods of determining earned value.
• Improving the date-collection process

EVM Performance Measures

• Cost and schedule variance
• Calculating and interpreting measures for forecasting results
• Cost and schedule performance indexes
• Estimate at completion
• Latest revised estimate
• Variance at completion 
• To-complete performance index

EVM and Risk Management

• Integrating EVM and risk management
• Developing and using early warning sings and triggers 

Responding to Variances

• Determining what is variance
• Proper process for responding to variances
• Response options

Reporting Project Performance

• Determining reporting objectives
• Determining reporting needs
• Reporting options
• Reporting problems

Implementing as EVM

• Requirements for an earned value management system (EVMS)
• Tailoring the EVMS
• EVMS “light”

Recap & Closing