Earned Value Management Foundation & Practitioner Training in Jacksonville

Earned Value™ Management Foundation and Practitioner Course Outline

Module 1: Introduction to Earned Value Management

• What is Earned Value Management (EVM)?
• Why Use EVM?
• What Does EVM Require?
• Key Data Elements
• Reporting Graphs

Module 2: EVM Process

• Definition of Scope
• Requirements and Key Deliverables
• Work Breakdown Structure (WBS)
• WBS Dictionary
• Organisational Breakdown Structure (OBS)
• Responsibility Assignment Matrix (RAM)
• Subcontract Management
• Planning
• Foundations of Planning
• Attributes of Work Packages
• Schedule
• Hierarchy of Schedules
• Setting a Budget
• Objective Measures of Progress
• Earned Value Techniques
• Baselining the Project
• Data Collection
• Measuring Costs and Committed Costs
• Analysis Review and Action
• Schedule Status
• Calculating and Reporting Earned Value
• Reporting Graphs
• Variance Thresholds
• Performance Trend Charts
• Estimates at Completion
• Simple Tests of Reasonableness
• TCPI
• Checking Forecast Costs and Dates
• Change Management
• Maintaining Integrity
• When to Make Changes
• Risk Management
• Benefits of Risk Management
• Integrating Risk Management with EVM

Module 3: EVM System Review

• Benefits of a System Review
• Categories of System Review
• EVM Reviews

Module 4: Overview of Earned Value Management

• What is Earned Value Management (EVM)?
• Four Key Data Elements
• Designing an Earned Value Management System
• Factors to Take into Account
• Evaluating the Project Controls Environment
• Defining the Target Level of Implementation
• Defining an Appropriate Change Plan
• Communications Strategy and Infrastructure

Module 5: Definition

• Foundations of Definition
• Statement of Work
• Communicating the WBS
• Control Account Managers
• Managing a Control Account
• Responsibility Assignment Matrix
• Integration of Sub-Contract Management
• Flow-Down to Sub-Contractors
• Flow-Down of Scope to Control Accounts
• Risk, Uncertainty, Complexity, and Novelty
• Define Clear Deliverables
• Develop a WBS

Module 6: Planning

• Foundations of Planning
• Performance Management Baseline
• Principles of Risk Planning
• Earned Value Techniques
• Validity and Effectiveness

Module 7: Data Collection

• Foundations of Data Collection
• Using Estimated Actuals
• Data Collection Requirements
• Verify, Validate, and Reconcile Data Integrity

Module 8: Analysis, Review, and Action

• Foundations of Analysis, Review, and Action
• Reporting Graphs
• Estimates at Completion
• Simple Tests of Reasonableness
• Earned Value Variances and Indices
• Earned Value Reports
• Defining Appropriate Variance Thresholds
• Independent Estimate at Completion (IEAC)
• Identifying Likely Causes
• Selecting Appropriate Courses of Action

Module 9: Change Management

• Maintaining Integrity
• Types of Baseline Change
• Use of Management Reserve
• Impact of Changing Baselines
• Change Process

Module 10: Risk Management

• Foundations of Risk Management
• Setting the PMB
• Establishing Management Reserve
• Predicting Project Performance
• Project Changes
• Effectiveness

Module 11: System Review

• Foundations of Systems Review
• Benefits of a System Review
• IBR Process
• IBR Issues and Effectiveness
• Demonstration Review Process
• Demonstration Review Issues and Effectiveness
• Surveillance Review Process
• Surveillance Review Issues and Effectiveness
• Effectiveness of System Review Regime

Module 12: Learning from Experience

• Sources of Learning from Experience
• Conducting LFE Review
• Handover of Project Deliverables
• Metrics
• Reviewing, Classifying, and Prioritising LFE
• Possible Recommendations
• Planning Communications
• Selecting and Matching Experience
• Project Closedown Process
• Effectiveness of Learning from Experience

Who should attend this Earned Value™ Management Foundation & Practitioner Course?

This Earned Value™ Management Foundation & Practitioner Training Course in Jacksonville provides foundational and advanced knowledge in the methodology used to measure and communicate the real physical progress of a project considering the work completed, the time taken, and the costs involved. The following professionals can benefit from attending this course:

• Project Managers
• Project Control Managers
• Finance Professionals
• Project Management Office (PMO) Professionals
• Portfolio Managers
• EVM Analysts
• Programme Managers

Prerequisites of the Earned Value™ Management Foundation & Practitioner Course

There are no formal prerequisites for attending this 4-day Earned Value™ Management Foundation & Practitioner Training Course. However, delegates must pass the Foundation examination before completing the Practitioner section of the course.

Earned Value™ Management Foundation and Practitioner Course Overview

Earned Value™ Management (EVM) in Jacksonville is a general objective method of measuring the project performance and progress. It gets its relevance in just about any industry because it is a method that combines the dimensions of Project Management: scope, schedule, and cost. This is, therefore, very instrumental in seeing to it that projects are completed within the stipulated periods and within the appropriate budget, hence a very indispensable tool for any project managers across different sectors.

Whether it's Project Managers, Program Managers, or Financial Analysts—everyone, at the very least, with EVM in their head, wants to make the most of Project Execution and financial performance. These professionals are supposed to pursue projects and, in the process, be able to forecast the result that is likely to be derived from such projects easily. Mastery of this subject in Jacksonville ensures that strategic initiatives are effectively executed, enhancing organisational success.

The Knowledge Academy’s 4-day training course in Jacksonville on Earned Value™ Management Foundation and Practitioner is designed to equip delegates with the foundational understanding and practical skills needed to implement EVM within their projects. Through this intensive session, delegates will learn the essential principles of EVM, engage in real-world case studies, and apply best practices to maximise project performance and outcomes.

Course Objectives

• To Introduce the Fundamentals Of Earned Value Management and Its Importance in Project Management
• To explain the process of integrating scope, time, and cost management to measure project performance
• To equip delegates with the skills to analyse project performance and make informed decisions
• To demonstrate how to implement EVM processes in real-world projects effectively.
• To prepare delegates for the Earned Value Management Certification
• To enhance problem-solving and analytical skills related to project cost management and forecasting

Upon completion of this course in Jacksonville, delegates will have a powerful understanding of Earned Value Management and its application in projects. Such skills and knowledge place them at a great position to significantly improve project outcomes through ensuring delivery as per scope, within time, and within budget.

What’s included in this Earned Value™ Management Foundation & Practitioner Course?

• Earned Value™ Management Foundation Exam
• Earned Value™ Management Practitioner Exam
• Earned Value™ Management Foundation & Practitioner Certificate
• World-class training sessions from Experienced Instructors
• Digital Delegate Pack

Earned Value™ Management Foundation Exam Information

The Earned Value™ Management Foundation Exam evaluates comprehension of Earned Value Management (EVM), a project management technique that measures performance by integrating scope, cost, and schedule. The Earned Value™ Management Foundation exam format is: 

• Question Type: Multiple Choice 
• Total Questions: 40 
• Total Marks: 40 Marks 
• Pass Mark: 65%, or 26/40 Marks 
• Duration: 60 Minutes 
• Open Book/Closed Book: Closed Book 
• Note: Use of a simple calculator is permitted