Using Earned Value Management to Measure Project Performance
Successful project managers make effective project plans. Then they control those plans by carefully monitoring, measuring, and managing cost, schedule and quality. One effective technique that is used by these managers is Earned Value Management (EVM).
This one-day workshop provides participants with the concepts, formulas, and processes needed to develop an effective Earned Value Management method.
Armed with this method, participants will be able to accurately assess project status, foresee early-warning signs of project slippage, take corrective actions and report relevant information to varying stakeholder groups. Lastly, participants will gain can insight into how to implement EVM in their organizations.
Learning Objectives:
Upon completion of Earned Value Management, participants will be able to:
- Define Earned Value Management and explain why it is important to a project
- Explain the relationship between project planning and effective execution and control
- Establish a performance measurement baseline
- Calculate cost and schedule variances and indexes and use them to monitor project performance
- Forecast final schedule results and probable cost outcomes using common EVM formulas
- Determine how to assess early warning signs of project cost/schedule problems and opportunities
- Adjust project strategy and make informed decisions based upon project performance
- Forecast the results of your project using earned value
- Generate project reports for all project stakeholders
Audience: This workshop is intended for project stakeholders, managers and team members who require insight into how to assess a project’s status as well as being able to determine a project’s potential for success or failure, based upon stakeholder/sponsor expectations.
Prerequisites: The attendee should have a basic understanding of project management concepts.
Duration: 1 Day
Tuition: $495
Location: UMBC Training Centers, South Campus, 1442 S. Rolling Road, Baltimore, MD 21227
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