Variance at Completion To Complete Performance Index With this information, you can take preventive action to avoid any incidents and complete the project successfully. About 8 years ago I was busy preparing for my PMP exam. I was just like you, browsing and wandering around the Internet to find resources for each part of the PMP exam. Back then it was difficult, not only to find relevant resources but to also find guidance to help me prepare for my PMP exam.
Are you a Project Manager who is interested to know precisely whether or not your project is on the path to success? Earned Value Management is the skill set that you need to attain in order to: Advance to Lead Positions in Project Controls because Earned Value Management requires integration between cost and schedule that enables you to oversee the overall project performance and status.
Know whether your project is truly on budget and on schedule. And above all by mastering your skills in Earned Value Management, you will be able to …. Know precisely whether or not your projects are on the path to success.
Become distinguished for your ability to effectively plan, execute, control, and lead projects in the right direction.
Demonstrate to stakeholders whether or not they are getting value for money they are spending. Set yourself apart from the rest due to your knowledge and capabilities in identifying, controlling, and mitigating the project delays and cost overruns.
Advance your career to the next level of success… Is This All Possible?
Over time, as I got engaged more and more in projects, I became familiar with a less appreciated but highly powerful management methodology called Earned Value Management.
As I applied Earned Value Management in my projects, I realized how powerful it is and what wonders it can bring to my projects, my organization, and my career development.
Finding my interest in Earned Value Management, I started researching more about secrets of this powerful and game changing subject.
I read as many books and articles as I could about the subject.
Soon I discovered that top performers in project management continuously use Earned Value Management in their projects. By implementing Earned Value Management concepts and tools I became highly successful in controlling the projects I was involved in.
I received amazing feedback from stakeholders including clients mentioning how satisfied they were with my performance in making sure that the projects were on track.
Later, I turned my findings and practical project experiences into a training course and started teaching Earned Value Management few years ago.
My students highly appreciated the training. They applied what they learned in their projects and saw great results. The positive feedbacks of my students encouraged me to turn the live course into an online training so it is accessible to anyone anywhere.
I am passionate to show you the Earned Value Management step-by-step implementation and application that I acquired through years of experience and research. I would like to equip you with the right skills in Earned Value Management and help you advance those skills right away!
If my students and I could do it so can you. As a result of this training, I will make other people fellow employees aware of the problems we are currently facing and explain how it can possibly be rectified. I give it 10 out of As a result of the training, I will be applying the knowledge and tool to projects I am involved in.
Now let me share with you how you can unlock the power of Earned Value Management. You can learn all the essentials you need to know about Earned Value Management by enrolling in the Essentials of Earned Value Management online training, which is deep dive training intensive in Earned Value Management.
I have tested this training program for several years with hundreds of Project Control Professionals, Project Managers, and Engineering Discipline Leads through live training seminars prior to offering it online to you.Normally, Project correlates the actual costs with the actual work.
The value of the work that is performed by the status date, measured in currency. This is the value earned by the work performed and is called the budgeted cost of work performed (BCWP). Using the powerful 4castplus Progress Measurement tools, cost controllers can generate Earned Value Management metrics to establish forecast values at all levels of the work breakdown structure.
EVM delivers powerful insight into project performance, productivity and an early warning signs so that project controls experts can take corrective. Earned Value Management (EVM) Status Chart – the most common form of graphical output used with EVM.
In the above chart, the task (or project) is behind schedule and over budget, often expressed as Cost Variance (Earned Value less Actual Cost) and Schedule Variance (Earned Value less Planned Value).
In project management, it is vital to have adequate means of obtaining information also if it still works after the implementation as suggested by Mahaney and Lederer () with a particular relevance to construction projects. EV systems, being a Earned Value Management (EVM) uniquely connects cost, schedule, and.
Measuring In-progress Project Performance In most cases, project sponsors and clients are cost conscious. They want to know how much they will spend on the project and they want to know it before the project is over. As in earned value management we need to combine schedule and budget perspectives to get a true sense of overall project.
Essential features of any EVM implementation include 1.
A project plan that identifies work to be accomplished, 2. a valuation of planned work, called Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS), and 3. pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work, called Earned Value (EV) or .