Introduction to Earned Value – 1 day, 7 PDUs
- Introduce basic earned value concepts and to recognize how to manage and report against metrics produced.
- Use metrics to forecast cost and schedule status.
- Discuss the importance of developing solid scope, schedule, and cost baseline so to effectively capture earned value metrics.
- Demonstrate concepts via case study and exercises
Course Overview and Agenda
The objective of Introduction to Earned Value Management is to introduce the students to basic earned value concepts and to recognize how to manage and report against the metrics that are produced. Using a lecture and exercise format, the students will learn earned value following the foundation provided in the Guide to the Project Management Body of Knowledge (PMBOK® Guide) established by the Project Management Institute (PMI). Students will then follow a case study through planning, executing, and monitoring and controlling to report earned value metrics and present the impact on the cost of completing the project.
Project Management Process Overview
Developing the Primary Project Baselines
> Develop Project Charter
> Develop Project Management Plan
- Develop the Scope Baseline
- Develop the Schedule Baseline
- Develop the Cost Baseline
Exercise: Fiscal Donation System
Execute, Monitor, and Control the Project
> Direct and Manage Project Work
> Manage Project Knowledge
> Monitor and Control Project Work
> Perform Integrated Change Control
> Controlling Costs Using Earned Value
Exercise: Cost Impacts
> Forecasting with Earned Value
Earned Value on an Agile Project