Earned Value Management
How much does the plan differ from reality? Analyze your project status and give yourself the right tools to quickly analyze the situation and make the right decision when conditions change.
After the course you will:
- Understand the benefits of Earned Value Management (EVM)
- Be able to calculate the project status towards variations and index plan
- Be able to calculate the projects estimated time and cost using different approaches
- Know how EVM-data is best presented toward stakeholders using reports, S-shaped curve or as trend analysis
- Know the essential conditions for successful implementation of EVM
Earned Value Management is an excellent method to follow-up and estimate projects. The method gives an up-to-date evaluation of the project´s status in relation to budget and schedule.
- Are we ahead or behind schedule right now?
- When is the project estimated to be completed?
- Are we above or below budget right now?
- How will the final cost correlate to the planned budget?
- How effectively do we utilize our resources?
To maximize the benefits of Earned Value Management it is important that the method is used correctly. This course provides a thorough overview of principles and best practices. The theory sections are alternated with discussions and exercises.
- Earned Value Management – Background, benefits and concept
- Key concepts: Estimated value, Earned value and Actual cost
- Variations – deviations from the original plan
- How to calculate index ratios – SPI, CPI
- How to make predictions – EAC, ETC
- What actions are necessary if the project is behind schedule? (TCPI)
- How to communicate project status to project stakeholders
- How to present EVM as a report, a S-shaped curve or as a trend report
- Proper data is essential but difficult – How to best measure earned value in different situations
The course is designed for those who work as a project manager, senior project manager or line manager
Experience from project based work
PDU (Professional Development Units)