Earn Value Management will make you understand everything about the earned value throughout the project lifecycle. You will be able to identify and define all the earned value management tools and techniques. On the completion of this course, you will acquire the skills to evaluate all the earned value management values and furnish accurate interpretations for all the results.By the end of this course, you will help individuals preparing for project management certification tests.
Earned Value Management or EVM has gained significant traction amongst various industry verticals to be more productive and creative amongst various team members in an organization. Budget and Deadlines are the most important parameters of a project, thus it requires agile management techniques to successfully complete them on time. The time for guessing project timelines has come to an end, and is being replaced by clear goals and scope, better planning and more using Earned Value Management. It helps owners stay on time and budget.
Let’s scan through some of its benefits and understand the essentials of EVM
Project control is one of the main factors in determining success or failure of a project. It is also essential for measuring project performance along the entire lifecycle of the project. Early warnings in a project execution can mitigate errors through corrective action. This is where Earned Value Management is used a powerful technique to monitor and control cost performance and time for a project. This techniques uses specific metrics or parameters to measure project accomplishments. The idea is to keep track of the current stage of the project against proposed timelines and projections. Any adjustment in the timeline can be added and analyzed to make the necessary adjustments for exceptional project outcomes.
Learning Objective
- Introduction to EVM
- Scope Definition
- Control Account Establishment
- EVM data Collection
- Actual Costs
- Cost & Schedule Forecasting
- EVM Reporting
- Scheduling Earned Value Project
- Cost Budgeting
- Progress Measurement
- Performance Measurement
- Variance Analysis
- Baseline Revisions and Change Control
Course Module
Module 0 – Course Introduction
Module 1 – Introduction to EVM
Module 2 – Performance Measurement Baseline
Module 3 – Measuring Accomplishment
Module 4 – Collecting Actual Cost
Module 5 – Performance Measurements and Forecasting
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