The management of technical projects is becoming a challenge to engineering managers and project management professionals in an increasingly competitive marketplace in which effective project planning and control approaches must be in compliance with clients contractual requirements. Successful project managers demand that their projects meet technical objectives and be completed on schedule and within budget. To ensure success, an effective project control system must be designed, developed and implemented to provide management with timely and accurate information on deviations of cost and time parameters from the target objectives established during the planning cycle of the project.

Earned Value Management (EVM) is a proven, effective project planning and control approach which provides cost and schedule performance measurements. It compares actual accomplishment of scheduled work and associated cost against an integrated schedule and budget plan. Its benefits include an early-warning system of cost/schedule problems and visibility into the true progress of the project work against the budget, projections of anticipated project schedule and cost trends and the ability to take timely, corrective actions for undesired variances. EVM is considered to be one of the most powerful and productive techniques utilized in managing today's complex projects in private, commercial or government environments and, by many experts, as the single most important innovation in project management since the development of the Critical Path Method networks.

• Obtain basic knowledge in understanding and using an effective performance management system in managing technical projects effectively
• Learn the importance of a proven, effective, and integrated cost and schedule baseline to measure project performance against
• Develop the project baseline by using the key elements of EVM performance measurement
• Stay on top of schedules, budgets, workloads and human resource issues by using proper EVM measurement tools and techniques
• Make project decisions concerning scope, cost and schedule parameters faster, more effectively and more confidently by effectively managing an integrated change control system
• Learn to avoid the pitfalls of project management by quickly identifying potential project risks and mitigate them as early as possible with EVM variance analysis and trending forecast

To provide a powerful and unique technique that integrates scope, cost and schedule parameters of a project to objectively measure project performance and convey this information to management and stakeholders for decision making. The fundamentals of EVM will be presented in a down-to-earth, basic approach, along with hands-on exercises and examples that will allow participants to apply the concepts to a realistic project. The seminar will provide participants with the concepts and principles in compliance with guidelines for EVM in A Guide to the Project Management Body of Knowledge (the PMBOK® Guide) of the Project Management Institute (PMI).

Upon completion of the seminar, you will be able to:

• Identify the project requirements
• Develop the project work scope
• Plan and schedule the project activities
• Estimate and establish the project budget
• Establish the project Control Accounts and the Earned Value Performance Management Baseline (PMB)
• Evaluate project performance against the PMB
• Understand how to use early-warning signals in EVM to pro-actively manage projects
• Manage effectively potential changes on projects
• Take actions against unacceptable variances
• Integrate risks in EVM
• Forecast the final project cost and schedule trends

Students' achievement of the learning outcomes will be assessed through problem-solving exercises and class discussions following the presentation of each major topic.

This seminar is designed for those who want to learn the basic principles of EVM used for project performance measurement, a proven and practical method to evaluate project work progress. It provides practical coverage of an accurate and realistic reflection of the integrated scope, cost and schedule parameters of a project to assist both contractors and client management in the decision-making process.

Senior managers, project managers, program/portfolio managers, engineers and cost/schedule practitioners, contract administrators, team leaders, individual team members, any professional involved in a management and control related function interested in improving realistic project cost and schedule performance tracking and progress reporting for concerned stakeholders will find this seminar very helpful for their work on projects, whether commercial or governmental.

Time: Day 1:8:00 am - 4:30 pm| Day 2:8:00 am - 4:30 pm

DAY 1

Introduction to Earned Value Management (EVM)

• Evolution of the Earned Value Management (EVM) Concept
• The EVM Process
• The Cost/Schedule Control System Criteria (C/SCSC)
• The EVM System (EVMS) Criteria Requirements
• EVM Principles
• EVM Basic Concepts

Organize and Scope the Project

• The Project Charter
• Understanding the Project Objectives
• Understand and Develop the Project Requirements
• Establish the Project Work Scope
• The Project Scope Statement
• The Work Breakdown Structure (WBS)
• Make-or-Buy Choices
• WBS and Earned Value
• The Organization Breakdown Structure (OBS)
• The Responsibility Assignment Matrix (RAM)
• The Scope Baseline

Plan and Develop the Schedule

• Identifying the project activities
• Planning the Project
• The Rolling Wave Planning Approach
• Scheduling the Project
• Scheduling and Earned Value

Estimate and Establish the Budget

• Integrating the Project Work Scope with Cost and Schedule
• Earned Value Control Account Plans (CAPs)
• Cost Estimates and Budgets
• Management Reserves (or Contingency Reserve)
• Undistributed Budget
• Determine Measurement Methods for CAPs
• Establish the Performance Measurement Baseline (PMB)
• Maintaining the Baseline: Managing Changes in Scope
• Integrated Change Control System

DAY 2

Monitoring and Analyze Project Performance

• CAPs Performance Measurement
• CAP Variance Analysis
• Cost and Schedule Variances
• Cost Performance Index (CPI) and Schedule Performance Index (SPI)
• Cost/Schedule Tolerance
• EVM Data Elements Interpretations
• Materials and Subcontracts in EVM
• Subcontractor Performance Measurement

Final Cost and Schedule Forecasting

• Determining Factors
• Cost and Schedule Results Methodology
• Estimate At Completion (EAC)
• Predicting the Projects Time Duration
• Earned Schedule (ES): A extension to EVM for managing schedule performance

EVM Reporting

• Reporting requirements
• Reporting objectives
• Reporting options
• Subcontractors Reporting
• Preparing and Interpreting the Integrated Cost/Schedule Report
• EVM Reporting Formats

Discounted hotel rooms are available on a first-come, first-served basis. See discount deadline and rates below.