Earned Value

Key Concepts And Principles:

•Earned Value concepts in a nut-shell
•Create project performance measurement - planned value
•Actual cost spent for physical work
•Comparison of traditional project cost and funding managment

Network Scheduling:

•Precedence diagram
•Arrow diagram
•Basic scheduling and network calculations
•Critical path
•Alternative constraints
•Grantt chart
•Milestone chart

Planning Process:

•Define project scope
•Assign responsibility
•Identify the interfaces between tasks
•Identify the key project milestones
•Prepare the master schedule
•Prepare top budget
•Prepare detailed budget and schedule

Definitions And Formulas-- Status And Analysis:

•Cost Variance
•Schedule Variance
•BCWS -- Budgeted Cost of Work Scheduled
•BCWP -- Budgeted Cost of Work Performed
•ACWP -- Actual Cost of Work Performed

Implementation:

•Weighted milestones
•Percent complete estimate
• Combination of percent complete estimates with milestone gates
•Equivalent completed units
•Earned Standards
•Apportioned relationships to descrete work packages
•Level of effort
•Fixed formula by task

Optimizing the Schedule:

Workshop Length: 1/2 day

Course Description:

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 benefi ts 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

Milli Micro Systems Inc. is a Project Management Company dedicated to providing Management, Training, and Information Technology solutions for government and private sector entities that require specialized needs and intricate Program Management. Since 1993 Milli Micro Systems Inc. has provided excellence in Specialized Training by minimizing the learning curve and maximizing the impact of our teaching on our students. Whether your organization needs one course or a specialized certificate program, you will enjoy our ability to customize delivery.

MMS is 8(a) and Hub zone Certified by the SBA