This course is designed for executives, project managers and project participants seeking a better understanding of the tracking and prediction of project budgets and schedules during execution with Earned Value and Earned Schedule Management. EVM is a required tracking tool for projects subject to audit according to US Federal Government’s Defense Contract Management Agency (DCMA) standards. EVM is also the only proven method for tracking projects during execution against baselines. ESM is a newer methodology that allows for the accurate prediction of project finish times given current performance.
- Introduction to Earned Value Management: This module introduces the concepts of Planned Value, Earned Value, and Actual Cost and then applies those concepts to derive understandings of cost variance and indexes that predict overall project performance given current performance.
- Advanced Earned Value Management: This module takes the Earned Value concepts to the next level of cost prediction under varying project circumstances along with metrics that quantify the level of performance necessary to bring an over-budget project back on track.
- Earned Schedule Management: This module introduces the concepts of Earned Schedule, Actual Time, and Planned Date and the formulas necessary to create an accurate indication of schedule variance and an accurate prediction of project finish dates.
The course includes lecture, exercises, and readings that assure students leave the classroom with a knowledge of the theory, language, and practice of EVM and ESM.