Dinner / Seminar (1 PDH)Abstract
Earned Value Management (EVM) is a systematic approach for managing a project in accordance with a pre-established budget and schedule. Although most projects have a budget and schedule, EVM is different in the forecasting insight it provides. For a project managed correctly in accordance with EVM standards, it will immediately become apparent when the budget or schedule has been exceeded. Although EVM methodologies have been in place since the 1960s, many companies still avoid implementing EVM systems because they’re feared as too complex to manage. This seminar will prove the benefits of EVM programs and provide counterpoints to common EVM misconceptions. The fundamentals of an EVM program will be provided as will helpful tools for implementing EVM systems on projects large and small.
- History of Earned Value Management (EVM)
- Elements of EVM
- Planned Value (PV)
- Earned Value (EV)
- Actual Cost (AC)
- Analysis and forecasting
- Budget at Completion (BAC) and graphical representation
- Resolving variances
- Common concerns and misconceptions
- Reports and tools
- Work Breakdown Structure (WBS)
- WBS Dictionary
- Organizational Breakdown Structure (OBS)
- Risk analysis
- Critical Path Method (CPM) Schedule
- EVM Accountability, Transparency, and Oversight Matrix (EVMAtom)
- Contract Performance Report (CPR)
- Control Accounts
- Software considerations
- Summary and questions
Nathan J Ward, MBA, BS, ChPCO™, EVMP®
Sr. Consultant, NJW Associates
A native of Pittsburgh, Pennsylvania, Mr. Ward is a graduate of Carnegie Mellon’s Tepper School of Business (MBA) and the University of Pittsburgh (BS Mechanical Engineering) as well as a certified Earned Value Management Professional and Chief Project Control Officer. He has implemented EVM programs on projects of various sizes and scope in both heavy civil and manufacturing environments.
Contact: firstname.lastname@example.org for additional information.
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