|
Earned Value Project Management
Earned Value provides a means for the integration of scope, schedule, and budget into a single reporting system that can be applied across an entire portfolio of projects. It affords a system that is both objective and predictive of project outcomes. Developed by the United States Department of Defense, a simplified form is applicable to any fixed price or fixed schedule project.
Upon completing this course students should be able to:
Understand the advantages of Earned Value over “budget vs. actual” reporting
Employ Earned Value terminology and formulas
Define a suitable Earned Value framework for projects
Monitor project performance using objective standards
Identify appropriate corrective actions
Report project progress in terms that allow comparison to other current and historic projects
Identify project performance problems as early as fifteen percent of project completion
Course Outline
1) Day one opening activities
a) Objectives, agenda, ground rules
b) Participant introductions
2) What is earned value project management
3) Scope Management
a) Using the Work Breakdown Structure
b) Defining SMART deliverables
c) Defining task percent complete measurements
d) Defining quality standards
i) Scope management exercise
4) Time Management
a) Defining task dependencies
b) Establishing a project network
c) Estimating task duration
d) Establishing a project schedule
i) Schedule management exercise
5) Day one closing activities
a) Review lessons learned
b) Feedback
6) Day two opening activities
a) Review of objectives
7) Cost Management
a) Establishing a cost account plan
b) Measuring project costs
8) Integration analysis
9) Calculation of project performance variables
a) Cost variance
b) Schedule variance
c) Cost performance index
d) Schedule performance index
i) Performance calculation exercise
10) Using Earned Value prediction
a) Calculation of the estimate to complete
b) Calculation of the estimate at completion
i) Prediction exercise
11) Day two closing activities
a) Review of objectives
b) Review lessons learned
c) Feedback
|