Earned Value Professional

earned value professional

Our Earned Value Professional course workshop takes the mystery out of using earned value management on your projects. This workshop uses our proprietary MS Excel templates to teach you the basics of earned value management

START:
February 7, 2018
DURATION:
3 DAY
PRICE
250,000.00

Address

Plot 21 Peace Avenue,Oshorun Heritage Estate,Off Channels TV Avenue,ISECOM,Isheri-North,Ikeja,Lagos,Nigeria   View map

Earned Value Professional Course Overview

Our Earned Value Professional course workshop takes the mystery out of using earned value management on your projects. This workshop uses our proprietary MS Excel templates to teach you the basics of earned value management. You’ll experience creating an earned value management baseline, determining earned value from project status, calculating earned value management indices, and estimating final cost and completion date. The workshop includes the new earned schedule method to improve schedule prediction. This workshop is perfect for team leads, cost account managers, financial and schedule control staff, project and program managers, and chief project officers. Templates may be retained by attendees to implement earned value management in their organization.

This Earned value professional course covers all the essential knowledge needed to apply earned value management to your projects. It is a hands-on workshop using MS Excel templates to teach the concepts. This avoids the need to try to learn both an unfamiliar earned value application and the concepts at the same time. When completed, you will understand the role of control account managers (CAM), and how to determine where to place control accounts within your projects. You will also experience how earned value data analysis provides insight into cost and schedule performance. Whether you are a CAM, PM, or portfolio manager this earned value  professional course will give you the experience you need to apply and understand earned value management. The AACEI Earned Value Professional certification is the only industry recognized professional certification for career minded earned value management professionals. JK Michaels Earned value professional course prepares you for all four sections of the AACEI day long EVP exam. You may understand EVM, but are you prepared for the exam? You can practice EVM everyday and still not cover some of the exam topics! The earned value professional course covers all the topics covered in the exam and provides sample questions and workshop discussion about each question and the possible answers.

Earned Value Professional Course Objectives

Upon successful completion of this course, you will be able to:

– Recognize the Earned Value Management System
– Identify personal knowledge gaps prior to taking the exam

– Comprehend the concept behind the Earned Value formula, rather than relying on memorization
– Apply specific tricks for answering multiple choice questions in the exam

– Prepare an earned value analysis report

– Interpret/Measure project health status based on the given earned value data

COURSE OUTLINE

Why use Earned Value Management (EVM)?

• The One Minute Project Review

• Historic Project Management Metrics, Why They Fail

• Traditional Project Reporting

• Project Reporting with EVM

• Questions That EVM Allows Us to Answer Basic Earned Value Concepts

Basic EVM Concepts

• The Planned Value (PV)

• The Earned Value (EV)

• The Actual Cost (AC)

• Organizing the Project for EVMS

• Content of a WBS

• Establishing Management Control Cells

• Control Cell Accountability Using EVM to Capture the Project Plan

Using EVM to Capture the Project Plan

• Example : Planning and Budgeting a Project

• Schedule Integration

• Planning at the Control Account

• Charting the Plan to Build Equity

• Work Package Planning • Exercise – Planning Work Packages

• Sample of Work Package Planning

• Non Labor Tasks (Material and Subcontracts)

• Far Term Tasks-Planning Packages Collecting EVM Project Data

Collecting EVM Project Data

• Evaluating Project Performance (Execution and Control)

• Obtaining the Earned Value Management Data

• Reporting Progress at the Control Account

• Analyzing Variances From the Plan

• What Is Not a Variance

• Sample of Project Status and Variances

Analyzing EVM data

• Exercise – Assessing Project Status Using EVM

• Analyzing Project Status

• Cost Performance Index

• Schedule Performance Index

• Earned Schedule

• Why use ES?

• More ES terminology

• Variance Thresholds

• Variance Analysis at the Control Account

• When Thresholds are Breached

• To Complete Performance Index

• Determining Trends and Plotting Indices

• Percent Complete, Percent Spent

• Cost Performance Report

Estimating Final Project Cost and Schedule

• Estimating the Final Cost

• Some EAC Formulas

• Application of EAC Formulas

• Estimating the Completion Date

• Using EVMS at the Team Level

• Just How Good Is the EVM Data?

• Recap –How to Establish Your EVM Baseline

• Recap –How to Perform EVM Accounting

Challenges in Applying EVM to IT Projects

• Key IT Risks

• IT Project’s Deferred Performance Scenario

• Why Software Projects Are Unique

• Warning Indicators

• A Software Project WBS

• Software Maintenance

• Managing Software Maintenance

OMB Expectations for Agency Use of EVM

• View from the Government

• Business Case Scoring

• Scoring “Performance Based Management”

• OMB Expectations for Earned Value Management

• A-11, Part 7 Policy for Major Acquisitions

• Exhibit 300, Capital Asset Plan and Business Case

• The Capital Programming Guide

The ANSI EVM Standard

• International Standards for EVMS

• ANSI 748-98 Criteria

• Organizational Process Areas

• Planning Process Area

• Accounting Process Area

• Analysis Process Area

• Revisions Process Area

• EVM Resources

The Earned Value Management Maturity Model® (EVM3) ®

• The Value of a Maturity Model

• Characteristics of Common Staged Maturity Models

• The Earned Value Management Maturity Model®

• Attributes of Level 1 – INITIAL

• Attributes of Level 2 -LOCALIZED

• Attributes of Level 3 –ANSI 748 COMPLIANT(+)

• Attributes of Level 4 – MEASURED

• Attributes of Level 5 – OPTIMIZING

• Obtaining the EVM3® Model and Independent Assessment

The exam is based upon the ANSI 748 (latest version), Earned Value Management Systems guideline. To get the most benefit from this workshop attendees should have read, as a minimum: • ANSI 748 (latest version), Earned Value Management Systems • PMI’s Practice Standard for Earned Value Practice Management • National Defense Industrial Association (NDIA) EIA-748-A Intent Guide

Who should attend

This course has been designed for those who wish to pass the EVP exam. However, it is recommended to anyone interested in gaining a basic understanding of the Earned value management system, including but not limited to Project Control Leads, Project Cost Controllers, Project Planners, Project Engineers, Project Managers, whether working for engineering consultants, EPC contractors, or on owner’s staff.

JK Michaels

JK Michaels is a forward thinking Project Management, consulting and training firm. Our solutions help clients improve performance, measurable growth in return on investment, manages change effectively and delivers excellent business result.

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CONTACT

Email: mails@jkmichaelspm.com
Telephone: +234 01 293 3181,
+234 8033596025 Direct Line;+353 1 6877091
Address: Plot 21 Peace Avenue,Oshorun Heritage Estate,off Channels TV Avenue,OPIC Isheri North,Ikeja,Lagos Nigeria.
33,Meadow Drive,Clonsilla,Dublin 15,Ireland.

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