Understanding Earned Value Management (APPEL-UEVM)
This course is designed for project team members that require a basic understanding of earned value management (EVM) and who may contribute to planning, controlling, and analyzing cost, schedule, and technical performance of an activity, project, or contract.
This one-day course will provide a high-level understanding of EVM concepts as well as techniques for analyzing EVM data.
Lectures, discussions, and exercises will present key concepts regarding the EVM process.
Upon completion of this course, participants will be able to:
- Recognize basic EVM concepts and terminology, and know how to interpret EVM reports and graphs.
- Explain the governing policies, requirements, and the American National Standards Institute/Electronic Industries Alliance - 748 (latest version), Earned Value Management Systems (ANSI/EIA-748) guidelines for EVM on NASA projects.
- Recognize the principles involved in establishing a performance measurement baseline (PMB), including: the role of the work breakdown structure (WBS) in defining scope; the value of developing a responsibility assignment matrix; the importance of the integrated master schedule; and the significance of tying the budget to the schedule with the WBS.
- Describe the earned value methods for discrete effort, apportioned effort, and level of effort.
- Recognize how to use performance indices and factors to calculate estimates of the final cost and variances from the baseline.
Competencies and Technical Areas Addressed
Earned value management basics.
Please refer to the Academy web site for PMI PDU information.