Earned Value Management (EVM) for Predictive Performance Training Course: Advanced application of EVM for forecasting project cost and schedule.

Introduction

Transform your project control from reactive monitoring to proactive forecasting with our "Earned Value Management (EVM) for Predictive Performance" training course. Beyond basic tracking, advanced EVM provides powerful metrics to accurately predict future project cost and schedule performance, enabling timely interventions and informed decision-making. This intensive 10-day program equips project professionals with sophisticated EVM techniques to interpret performance trends, calculate reliable forecasts, and communicate project health with unparalleled clarity. Learn to leverage EVM's full potential to anticipate challenges, optimize resource allocation, and ensure your projects are delivered on time and within budget, solidifying your role as a truly strategic project leader.

Duration

10 Days

Target Audience

This course is essential for experienced project managers, program managers, project controllers, PMO analysts, financial analysts, risk managers, and anyone responsible for detailed project tracking, forecasting, and reporting on complex projects. It is particularly beneficial for those in:

  • Large-scale, long-term, or capital-intensive projects.
  • Industries with strict budget and schedule compliance requirements (e.g., defense, construction, IT, energy).
  • Organizations seeking to improve project predictability and financial control.
  • Roles requiring advanced analytical skills for project performance management.
  • Professionals preparing for advanced project management certifications (e.g., PMP, PgMP with a focus on EVM).

Course Objectives

Upon successful completion of the "Earned Value Management (EVM) for Predictive Performance" training course, participants will be able to:

  • Understand the foundational principles and advanced metrics of Earned Value Management (EVM).
  • Master the calculation and interpretation of key EVM performance indicators (SPI, CPI, CV, SV).
  • Apply advanced EVM forecasting techniques to accurately predict Project Completion (EAC) and Schedule Completion (ETC).
  • Leverage EVM data to identify project trends, early warning signs, and potential overruns or delays.
  • Develop integrated cost and schedule performance reports using advanced EVM metrics.
  • Understand the role of EVM in risk management, change control, and progress reporting.
  • Utilize project management software tools to implement and analyze EVM data effectively.
  • Conduct advanced variance analysis and root cause identification based on EVM performance.
  • Communicate complex EVM findings and recommendations clearly to stakeholders and senior management.
  • Formulate a comprehensive action plan for integrating advanced EVM practices into their project and organizational control systems.

Course Modules

Module 1: Foundations of Earned Value Management (EVM) Review

  • Review of core EVM concepts: Planned Value (PV), Earned Value (EV), Actual Cost (AC).
  • Basic EVM calculations: Schedule Variance (SV), Cost Variance (CV), Schedule Performance Index (SPI), Cost Performance Index (CPI).
  • Understanding the integrated nature of EVM for cost and schedule control.
  • The importance of a well-defined Work Breakdown Structure (WBS) and baselines for EVM.
  • Quick recap exercises: Calculating basic EVM metrics.

Module 2: Advanced Performance Measurement with EVM

  • Introduction to To-Complete Performance Index (TCPI): What performance is needed to meet goals.
  • Types of TCPI: TCPI (BAC) and TCPI (EAC) and their implications.
  • Understanding Performance Measurement Baselines (PMB) and their significance.
  • Advanced earned value techniques for different work packages (e.g., 0/100, 50/50, fixed formula, level of effort).
  • Analyzing cumulative vs. period-by-period EVM performance.

Module 3: Forecasting Project Completion (EAC) and Schedule (ETC)

  • The crucial role of EAC (Estimate at Completion) in predictive performance.
  • Different methods for calculating EAC:
    • EAC = AC + ETC (Bottom-up Estimate To Complete)
    • EAC = BAC / CPI (assuming future performance aligns with current cost efficiency)
    • EAC = AC + (BAC - EV) / CPI * SPI (considering both cost and schedule efficiency)
    • EAC = AC + (BAC - EV) / (CPI * SPI) (most optimistic, assuming future efficiency improves)
  • Understanding ETC (Estimate To Complete) and its relationship to EAC.
  • Selecting the appropriate EAC formula based on project context and stability.

Module 4: Advanced Variance Analysis and Trend Identification

  • Deeper dive into root cause analysis for significant Schedule and Cost Variances.
  • Identifying performance trends: Are CPI and SPI improving, worsening, or stable?
  • Using historical data to refine forecasting assumptions.
  • Analyzing variance at different WBS levels to pinpoint problem areas.
  • The concept of "management reserve" and "contingency reserve" in EVM context.

Module 5: Integrated Change Control with EVM

  • How EVM supports a robust integrated change control process.
  • Impact of scope changes, schedule changes, and budget changes on the PMB.
  • Re-baselining: When and how to re-baseline the project and its impact on EVM metrics.
  • The critical importance of baseline integrity for meaningful EVM analysis.
  • Communicating changes and their EVM implications to stakeholders.

Module 6: Risk Management and EVM

  • Using EVM to monitor the impact of identified risks and risk responses.
  • Integrating risk contingency budgets into the PMB.
  • How to account for realized risks within EVM calculations.
  • Predicting potential future risks based on current EVM trends.
  • The synergy between EVM metrics and quantitative risk analysis.

Module 7: EVM Reporting and Communication for Stakeholders

  • Designing comprehensive EVM performance reports and dashboards.
  • Visualizing EVM data: S-curves, variance trends, forecasting charts.
  • Tailoring EVM reports for different stakeholder audiences (e.g., team, management, executives, clients).
  • Communicating complex EVM concepts clearly and concisely.
  • Highlighting key insights, recommended actions, and potential impacts.

Module 8: Implementing EVM with Project Management Software

  • Setting up baselines and progress tracking in Microsoft Project, Primavera P6, or similar tools.
  • Generating EVM reports directly from software.
  • Customizing fields and views to display advanced EVM metrics.
  • Exporting EVM data for external analysis in Excel or Power BI.
  • Tips and tricks for efficient EVM data input and maintenance in software.

Module 9: Advanced Topics & Challenges in EVM

  • Earned Schedule (ES): An alternative to SPI for schedule performance and forecasting.
  • Managing Level of Effort (LOE) activities in EVM.
  • Applying EVM to agile and adaptive projects.
  • Challenges in EVM implementation: Data accuracy, baseline management, cultural resistance.
  • Overcoming common pitfalls in advanced EVM application.

Module 10: Building an EVM Capability & Action Plan

  • Developing a roadmap for EVM maturity within your organization.
  • Establishing EVM processes and governance.
  • Training and competency development for EVM practitioners.
  • Integrating EVM with other project controls and financial systems.
  • Personalized action plan: Steps for implementing advanced EVM techniques in your current projects and advocating for broader adoption.

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

 

Earned Value Management (evm) For Predictive Performance Training Course: advanced Application Of Evm For Forecasting Project Cost And Schedule. in Nigeria
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