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ThinkIT PM
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Earned Value Management Course

Course details
Lectures 16
Quizzes 15

Working hours

Monday 9:30 am - 6.00 pm
Tuesday 9:30 am - 6.00 pm
Wednesday 9:30 am - 6.00 pm
Thursday 9:30 am - 6.00 pm
Friday 9:30 am - 5.00 pm
Saturday Closed
Sunday Closed
Conceptual,Business,Illustration,With,The,Words,Earned,Value,Management
  • Description
  • Curriculum
  • Reviews

Welcome to the world of Earned Value Management (EVM)! This comprehensive online course delves into every aspect of EVM, equipping you with the knowledge and skills to effectively track project progress, identify potential issues, and ensure
project success.

The Power of EVM:

EVM is a powerful project management methodology that provides a structured and objective assessment of project performance. By integrating project schedule, scope, and cost data, EVM offers valuable insights into whether a project is on track, under budget, or facing potential challenges.

This course empowers you to:

  • Gain a Solid Foundation: Establish a comprehensive understanding of EVM principles, concepts, and applications.
  • Master Core Metrics: Learn how to calculate and interpret key EVM metrics like Planned Value (PV), Earned Value (EV), Actual Cost (AC), Cost Performance Index (CPI), and Schedule Performance Index (SPI).
  • Enhance Decision Making: Utilize EVM data to make informed project decisions, identify areas for improvement, and proactively address potential risks.
  • Boost Project Control: Gain effective techniques for monitoring and controlling project performance based on EVM analysis.
  • Navigate Different Industries: Explore how EVM is applied across various industries, from construction and software development to government projects and manufacturing.
  • Improve Communication: Develop skills to effectively communicate EVM data and analysis to stakeholders at all levels.

Course Structure and Learning Experience:

This self-paced, online course offers a flexible learning experience that fits seamlessly into your busy schedule. Access course materials and complete assignments anytime, anywhere from your computer, mobile device, or even your TV.

The course is designed in an engaging and interactive format, featuring a combination of elements to cater to different learning styles:

1. Interactive Exercises: Test your understanding and apply newly acquired knowledge through engaging exercises that reinforce learning.
2. Downloadable Templates and Resources: Benefit from practical tools and templates designed to streamline your EVM implementation process.
3. Discussion Forums: Connect with fellow learners, share experiences, and collaborate on projects in a supportive online community.
4. Quizzes and Assessments: Gauge your progress and ensure knowledge retention through self-assessment quizzes and assignments.

This course caters to busy professionals, offering a flexible, self-paced learning experience with:

1. Engaging Content: Combine informative video lectures with interactive exercises, downloadable resources, and real-world case studies.
2. Expert Instruction: Learn from experienced project management professionals.
3. Hands-on Practice: Apply your knowledge through practical exercises and gain experience with EVM tools.

Detailed Module Breakdown:

Module 1: Introduction to EVM – Demystifying Project Control: Dive into Earned Value Management (EVM) and its role in gaining real-time insights into project progress. Explore its evolution and growing importance in modern project management.
Discover the substantial benefits of EVM implementation, including improved visibility, better decision-making, and increased project success rates.
Building Block Understanding: Grasp the core concepts of EVM: Planned Value (PV), Earned Value (EV), and Actual Cost (AC). Learn about key performance indicators like Cost Performance Index (CPI) and Schedule Performance Index (SPI) used to assess project health. Explore how EVM can be applied across various industries and address potential challenges
associated with its implementation.

Module 2: Mastering EVM Fundamentals – Planned Value (PV): Deep dive into the concept of Planned Value, the cornerstone of EVM, and its calculation methods for establishing a project baseline.
Understanding Earned Value (EV): Explore the meaning of Earned Value, a critical metric for measuring the amount of work actually completed compared to the planned schedule. We’ll delve into the importance of accurate measurement for reflecting true project progress.

Actual Cost (AC) Explained: Grasp the concept of Actual Cost and its role in calculating project performance variances. Learn how Actual Cost is tracked and monitored throughout the project lifecycle.
Variance Analysis and Performance Indicators: Explore the significance of Cost Variance (CV) and Schedule Variance (SV) calculated to identify deviations from the project baseline. Understand the Cost Performance Index (CPI) and Schedule Performance Index (SPI) that provide a clear picture of project performance relative to cost and schedule.
Mastering EVM Formulas: Solidify your understanding by mastering the core formulas used in EVM calculations to analyze project progress effectively. Learn how to interpret EVM metrics to translate data into actionable insights for informed decision-making.

Module 3: Equipping Yourself with EVM Techniques and Tools – EVM Techniques Toolbox: Explore various EVM techniques like Time-phased EVM and Integrated Baseline Review, understanding their applications in project control.
EVM Software Power: Learn about popular EVM software tools (e.g., Microsoft Project, Primavera) and their functionalities to streamline EVM implementation. Evaluate the pros and cons of utilizing EVM software for project management.
Data Gathering Essentials: Understand the data requirements for EVM calculations and how to gather it effectively to ensure accurate analysis. Best Practices for Success: Gain insights into best practices for implementing EVM techniques to maximize their benefits and optimize project control.

Hands-on Learning: Apply your knowledge through practical exercises using EVM software tools, solidifying your understanding of EVM techniques
and calculations.

Module 4: Creating a Work Breakdown Structure (WBS) – Understand the purpose of WBS and principles for development. Learn techniques for organizing project activities into manageable WBS elements and recognize the importance of a clear WBS for EVM implementation.

Module 5: Establishing Baselines – Comprehend the significance of baselines and distinguish between Cost Baseline, Schedule Baseline, and Scope Baseline. Learn procedures for establishing baselines and understand change management processes. Analyze the impact of baseline changes on EVM metrics and how baselines integrate with project planning and execution.

Module 6: Monitoring and Controlling with EVM – Utilize EVM metrics for real-time performance monitoring, identify trends and deviations, and recognize early warning indicators for potential issues. Develop corrective actions and strategies based on EVM analysis. Master effective communication and reporting practices for conveying EVM results. Understand the project manager’s role in EVM-based decision making.

Module 7: Advanced EVM Concepts – Explore Earned Schedule (ES) and its relationship with EVM. Differentiate between Earned Value Analysis (EVA) and Critical Path Method (CPM).

Learn how to adapt EVM principles to Agile project management methodologies. Expand your knowledge with advanced EVM metrics for improved project forecasting. Comprehend how to integrate risk management with EVM. Explore the role of EVM in portfolio management and organizational strategy.

Module 8: EVM Implementation Challenges and Solutions – Identify common challenges and explore strategies for successful EVM adoption, including overcoming resistance to change, resource constraints, and data quality issues.

Module 9: Legal and Ethical Considerations in EVM – Understand legal implications, compliance requirements, and intellectual property considerations related to EVM data and analysis. Grasp the importance of ethical considerations in EVM reporting and decision making.

Module 10: EVM for Different Project Types – Explore adaptations of EVM for construction, software development, government/defense, and manufacturing/production projects, recognizing unique challenges and considerations for each.

Module 11: EVM in Portfolio Management – Understand the role of EVM in portfolio selection and prioritization, portfolio performance measurement, and risk management. Learn how to integrate EVM with project portfolio management (PPM) tools for comprehensive analysis and decision-making.

Module 12: EVM Reporting and Communication – Develop effective communication strategies for conveying EVM data to diverse stakeholders. Learn to tailor reports, use data visualization techniques, and address stakeholder concerns. Discover best practices for establishing a robust EVM communication and reporting system.

Module 13: EVM and Agile Project Management – Gain a foundational understanding of Agile principles. Recognize challenges in applying traditional EVM to Agile projects. Explore Agile-specific EVM techniques and adaptations, combining EVM with Agile metrics and frameworks. Learn best practices for balancing EVM and Agile methodologies.

Module 14: EVM Integration with Risk Management – Establish the connection between EVM and risk management. Learn how to utilize EVM data to identify and assess project risks, incorporating risk analysis into EVM calculations for more accurate forecasts. Discover risk-adjusted EVM metrics and mitigation strategies for high-risk projects. Gain best practices for proactive risk management with EVM.

Module 15: EVM in Organizational Strategy – Align EVM with organizational goals and explore its role in strategic planning and decision-making. Leverage EVM data for resource allocation, strategic portfolio management, and performance measurement. Explore strategies for integrating EVM into the organizational culture and processes, fostering a culture of continuous improvement. Learn about the future of EVM and emerging trends.

Conclusion – Apply your learnings to real-world projects, stay updated on advancements, and consider pursuing professional certifications to enhance your expertise. Remember, effective project management is a continuous learning journey. Keep applying your knowledge and embrace the power of EVM to elevate your project management skills!

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