Master Class in Earned Value Management for RIVA Training Centre

Short Course Description:
The online course “Master Class in Earned Value Management” provides the tools and techniques to evaluate the project’s project performance related to schedule and cost. Based on the financial parameters and estimations we can evaluate the financial performance of the project and provide the project manager with objective information to make the necessary decisions and implement measures.

Earned Value Management is a method developed to better understand project progress. The classical approach to project follow-up, based on schedule and cost, does not provide a good understanding and leads to wrong interpretations.
Earned Value Management was introduced to better understand the progress by introducing the concept of “earned value”.
With this new concept, it is possible to estimate the expected end date of the project and the final cost.
Many years of experience with Earned Value Management and its application in many projects have proven successful and have positively impacted project success.

You can use the certificate of the course to claim the training hours for your certification application or to claim PDUs when you are PMI certified. You can claim 35 hours or 35 PDUs based on the talent triangle, this means:

Technical: 20
Strategic & Business: 10
Leadership: 5

Provider: De Ceuster Academy @ APraCom, s.r.o.

Content

• The Need for Earned Value Management
• Defining Earned Value Parameters
• Project Budgeting and the Missing Lino
• Activities and Allocating Costs
• Project Status and the Schedule and Cost Variances
• Schedule and Cost Performance Indices
• Different Estimates at Completion
• Challenging the Project Manager
• Introducing Earned Schedule Management
• Earned Value Management and Three-Point Estimations
• Using Earned Value Parameters for Project Evaluation
• Evaluation of EVM and Conclusions
• Final Project “Gorillas in the Mist”
• Course Final Review and Final Quiz

Learning Outcomes
At the end of the course, the participants will be able to:

• Explain why Earned Value Management is Necessary to Report Project Progress Effectively
• Define the Three Basic Earned Value Parameters PV, EV, and AC
• Describe the “Missing Link” between the Project Schedule and the S-curve
• Determine the Way to Allocate Costs over Activities
• Determine the Project Schedule and Cost Positions using the Schedule Variance, the Cost Variance, the Schedule Performance Index, and the Cost Performance Index
• Calculate the Different Estimates at Completion
• Challenge the Project Manager over the Project Status
• Explain the Issue with Schedule Variance and the Reason for Earned Schedule Management
• Apply the Principles of Three Point Estimation on the Estimates at Completion
• Interpret the Earned Value Parameters for Project Evaluation
• Evaluate Earned Value Management and its Limitations
• Apply Earned Value Management on Projects