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Understanding Earned Value Management

GES 415 -- 30 hours

Course Outline

    I. Defining the Project Scope

    1. Project versus Product Scope
    2. Decomposition
    3. Work Breakdown Structures (WBS)
    II. Creating the Project Baseline
    1. Developing a time-scaled Network Diagram
    2. Developing the Project Cost Baseline
    III. Completion Credit Rules
    1. Discrete Work Effort Rules
    2. Dependent Task Rules
    IV. Using Earned Value for Statusing
    1. Earned Value elements
    2. Measuring Schedule Performance
    3. Measuring Cost Performance
    4. Interpreting the Formulas
    5. Management Overview Formulas
    V. Using Earned Value for Controlling Project Performance
    1. As a root cause analysis tool
    2. Understanding the Language of Variances
    VI. Forecasting Project Completion
    1. Forecasting Terminology
    2. Forecasting based on Typical Variances
    3. Forecasting based on Atypical Variances
    VII. Interpreting The Formulas
    1. Is the project performing as planned?
    2. What is the projected completion date/budget?
    3. Is the project ok? Or is recovery necessary?