Project Masters - Project Management Training Courses

1.0 Overview of Earned Value

• What is Earned Value Management (EVM)?
• Brief History of EVM
• Rationale (Benefit?) for Using EVM
• When Do You Use EVM?
• Review of Basic EVM principles and formulas

2.0 Preparing To Use EVM

• What Must Be Put In Place to Use EVM?
  Review of PMI Practice Standard for Earned Value Management
  
  
• Review of the ANSI Standard for Earned Value Management and the contractor’s Earned Value Management System Description
  
  
• Establishing the Performance Measurement Baseline (PMB)
  How does a contractor build a PMB? 
  
  • Requirements Gathering and Documentation? (We do EVM on the requirements/definition stage; so much of this work is done after the IBR)
  • Scope Definition and the WBS
    • Why Proper Structuring of the WBS is Essential
    • What is a WBS Dictionary and How to Evaluate
  • Scheduling Deliverables, Activities and Milestones
    
    • Review of Proper Duration Estimating Processes
  • Estimating the Budget
    
    • Importance of a Time-Phased Budget
  • Adjusting Estimates for Uncertainty and Risk
    
    
• Negotiating and Setting Baselines
  • Scope Baseline
  • Schedule Baseline
  • Budget Baseline
  • Quality Baseline
  • Risk Baseline
    
    
• Conducting an Integrated Baseline Review Government responsibilities Contractor responsibilities
  • Exercise: Examine Documents Used In Developing An IBR
  • Exercise:  Conducting a Mock IBR Interview

3.0 The Mechanics of EVM

Discussion and Demonstration Of wInsight And Its Capabilities

• Working with Microsoft Project Files
• Working with Microsoft Excel Files
• This is done by the PMO due to security access control limitations in wInsight
• Working With wInsight and wInsight Administrator
• Overview Of EVM Reports And Analyses Generated By wInsight

4.0 In-Depth Analysis Of EVM Reports Generated By wInsight

Precise Definitions of Earned Value Terms and Formulas (i.e., EV, PV, CPI, SPI, EAC, etc.)

• Classroom-wide Earned Value Example
• Discussion: Interpreting Earned Value Reports
• Exercise: Interpreting Earned Value Reports
• Necessity of Proper Tracking Methods to Ensure Reliable EV Measures
• Exercise: Decision-Making Using Earned Value Reports
• Discussion: Alternative Methods of Earned Value Predictions (PMI Standard)

5.0 Combining Earned Value With Other Tools And Reports

• Why “Earned Value Isn’t the Whole Story”
• What Earned Value Reports Don’t Tell You
• The Role of Earned Value With Regards To Project Risk Management

6.0 Integrating EVM Into The Organizational Structure And Culture

• Roles and Responsibilities for EVMS
  • Who Needs What EVM Information and Why
• Adopting and Institutionalizing EVM “Living EVM”
• Resources for EVM – NDIA Guidelines and Documents