At Edwards Project Solutions (EdwPS), we believe that training programs must integrate theory with real world experiences to be effective. Our comprehensive courses in project management theory, fundamentals, principles and practices are designed around industry best practices for project management and based on the Project Management Institute’s (PMI®) Project Management Body of Knowledge (PMBOK®). They are taught by project managers with experience and insight into managing real world situations and projects. EdwPS is confident in our ability to provide comprehensive, practical courses that will enable you to further your project management education.
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Would you run a race and not keep time? Would you be comfortable in a hospital that didn’t periodically check patients’ vital signs? So why would you attempt to manage a project without an objective method for gauging progress? Measuring progress is good; however, unless it is a structured, reliable and universally understood process, the progress you measure may not be meaningful or give you the information necessary to make informed data-driven decisions. So, while a stopwatch, thermometer, or blood pressure cuff may be of little value to a project manager, a work breakdown structure (WBS); staffing, schedule, budget and tracking plans; and, an array of project metrics are essential tools.
An earned value management system (EVMS) integrates the work scope of a project with the schedule and cost elements to optimize control of the planned and executed work. When set up and used correctly, it is an early warning system, enabling managers to identify problems in their infancy when redirection has its greatest potential to control cost overruns or schedule delays. EdwPS offers two courses that provide an introduction and overview of earned value management (EVM). For more information on any of the courses listed, simply click on the course title. For a catalog of all the courses we offer, click here.
In addition to the two “Concept to Application” courses, EdwPS offers a seminar to introduce your group, organization or company to the topic of earned value management. This light-hearted presentation is popular with commercial and government organizations and provides an overview of earned value concepts and how they can be applied to better manage projects. Our experienced trainers will also spend up to a total of three hours at your facility to answer any earned value or general project management related questions after the presentation. This seminar is FREE of charge if your company or organization is located within the Baltimore-Washington metro area (including Northern Virginia). You can download a copy of the complete presentation from the resource center of our website. Please contact us if you are interested in scheduling this presentation at your organization.
Earned Value Management: Concept to Application
Whether you are a contracting officer or administrator; contracting officer’s technical representative; program or project manager; or, project scheduler; a solid understanding of EVM concepts is critical to your career growth and success. This one- or two-day workshop, developed by EdwPS and taught by experienced earned value management specialists, will introduce you to the fundamental concepts and principles of earned value, along with numerous exercises to reinforce application. You’ll get a hands-on overview of the process of EVM, from project development to execution.
Through lecture, classroom exercises and case study examples, you will be presented with a clear, comprehensive, step-by-step methodology for planning, establishing a baseline and executing your projects that allows for measuring and reporting performance with earned value metrics. This course will teach you to define work and create work breakdown structures; establish budgets; build detailed schedules using our popular BMPP method; establish a staffing plan and plan baseline; and execute a comprehensive tracking and reporting process. An overview of the integration of technical scope, cost, and schedule provides an introduction on how to establish a performance measurement baseline and derive performance metrics.
You will learn the terminology associated with EVM as it applies to federal acquisition management and dealing with the Office of Management and Budget (OMB). The course emphasizes the processes related to the Performance Management Baseline (PMB), the Integrated Baseline Review (IBR), and the American National Standards Institute (ANSI), ANSI-EIA-748 criteria for EVM systems.
You will also learn how to objectively measure accomplished work for comparison to planned work and actual costs, create performance metrics like cost and schedule performance indices, and report cost and schedule variances.
Earned Value Management: Concept to Application
Course Length: 1 day
R.E.P. Program #: 1918-EVM306 | PMI PDUs: 7.5
A.E.P. Program #: AEP7014-EVM306 | AACE PDHs: 7.5
FREE SEMINAR: Earned Value Measurement: The PB&J Project
Did you ever consider that you can actually track project progress when simply constructing a peanut butter and jelly sandwich? This humorous approach to project tracking walks you through the project lifecycle and the EVMS process. The resources, stakeholders, scope, project timeline, WBS, and tasks are all defined and project progress is tracked against an established baseline. When you have a hungry five-year-old, i.e., the customer, eagerly awaiting project completion, constantly checking status and requiring thorough updates, this is one project where earned value needs to be done right!
The discussion begins with a sample project. Not a sandwich, but rather an 18-month development project with some status information presented. The audience is encouraged to interpret the presented information and evaluate the performance of the sample project answering questions such as: “What is the cost performance?” “What is the schedule performance?” “Is it going well now?” “Will it finish well?”
Using Earned Value to Track Project: The PB&J Project
Course Length: 1-2 hours R.E.P.
Program #: 1918-PBJ001 | PMI PDUs: 1
Presentation Briefing and Supplemental Information