Earned Value Management is an excellent method to follow-up and estimate projects. The method gives an up-to-date evaluation of the project´s status in relation to budget and schedule.
• Are we ahead or behind schedule right now?
• When is the project estimated to be completed?
• Are we above or below budget right now?
• How will the final cost correlate to the planned budget?
• How effectively do we utilize our resources?
To maximize the benefits of Earned Value Management it is important that the method is used correctly. This course provides a thorough overview of principles and best practices. The theory sections are alternated with discussions and exercises.
On completion of this course the participants will be able to:
• Understand the benefits of Earned Value Management (EVM)
• Be able to calculate the project status towards variations and index plan
• Be able to calculate the projects estimated time and cost using different approaches
• Know how EVM-data is best presented toward stakeholders using reports, S-shaped curve or as trend analysis
• Know the essential conditions for successful implementation of EVM
• Earned Value Management – Background, benefits and concept
• Key concepts: Estimated value, Earned value and Actual cost
• Variations – deviations from the original plan
• How to calculate index ratios - SPI, CPI
• How to make predictions - EAC, ETC
• What actions are necessary if the project is behind schedule? (TCPI)
• How to communicate project status to project stakeholders
• How to present EVM as a report, a S-shaped curve or as a trend report
• Proper data is essential but difficult - How to best measure earned value in different situations
The course is designed for those who work as a project manager, senior project manager or line manager
Experience from project based work
Duration and class size
The length of the course is 1 day and the maximum number of participants is 12.
8 PDUs (Professional Development Units) will be awarded upon successful completion of the course.
This course is based on theoretical instructor-led lessons given in a classroom environment.