INTRODUCTION
The management of technical projects is becoming a challenge to professional engineers in an increasingly competitive marketplace in which effective project planning and control approaches 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 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 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 concepts utilized in managing today’s complex projects in private, commercial or government environments.
CONFERENCE OBJECTIVES
CONFERENCE SUMMARY
This training session is designed for those who want to learn the principles of EVM used for project performance measurement, a proven method to evaluate project work progress in order to identify early potential schedule slippage and areas of budget overruns. 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.
CONFERENCE OUTLINE
Introduction to Earned Value Management (EVM)
Scope the Project
Plan and Schedule the Project
Estimate and Budget Project Resources to Form Control Account Plans (CAPs)
Establish the Earned Value Project Baseline
Monitoring Performance Against the Baseline
Final Cost and Schedule Forecasting
EVM Reporting