EVMS 101 - EARNED VALUE MANAGEMENT FUNDAMENTALS

This course introduces the student to the principles, terminology and processes associated with an Earned Value Management System. The course summarizes the process categories, project organization, planning, updating, evaluating, forecasting and baseline control required for an Earned Value Management System (EVMS) compliant to ANSI/EIA 748. Students who successfully complete this course will be able to:

• Define Earned Value and Earned Value Management System
• Understand the benefits of EVM over classical Project Management
• Describe and understand the Basic EVM terminology
• Describe the 3 critical elements for organizing your project
• Identify the responsibilities of the Control Account Manager (CAM)
• List the 3 project components you must know before you can develop an EVM plan
• Understand EVM Planning and Scheduling requirements
• Describe an Integrated Master Plan (IMP) and Integrated Master Schedule (IMS)
• Describe the difference between Horizontal & Vertical Traceability
• Identify appropriate Work Authorization Levels
• Describe key components of a Program Budget
• Understand the 8 Earned Value Techniques
• Understand the difference between a Work Package and a Planning Package
• Select appropriate Earned Value Techniques based on Work Package details
• Describe the 3 basic components in updating Project Status
• Define Earned Value
• Describe the difference between BCWP and ACWP
• Identify the steps used in updating project status
• Calculate schedule variance (SV) and cost variance (CV)
• Calculate Schedule Performance Index (SPI) and Cost Performance Index (CPI)
• Evaluate project performance and analyze variances to the plan
• Define Estimate at Completion (EAC)
• Identify techniques to validate the EAC
• Define the components of the Baseline
• List the 3 Baseline Control Objectives
• Describe the 3 Baseline Change Categories

This course is for Project Managers, Technical Managers, Cost Account Managers, Integrated Product Team Leads, Financial Planners, Schedulers and equivalent project personnel working in positions requiring knowledge and use of EVM. This is a self paced course available through the internet. Students can complete in one day, or spread out over multiple days. There are 7 quizzes in total and a completion certificate is issued for successful completion of the course. Web Based - Learn more