earned value management - foundation

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Start and finish Course style

LunchCoffee and breaks

M00 - Course introduction 2/8 | 2/88

The underpinning philosophy of EVM

The terminology and thinking behind EVM

The lifecycle of project using EVM

The understand techniques used in EVM

Main goal

Attempt Foundation exam with confidence

Begin to apply EVM, tailoring it to your own projects’ needs

Secondary goal

Benefits and value of EVM


Please share with the class: Your name and surname Your organization Your profession Title, function, job responsibilities

Your familiarity with the project/programme management

Your familiarity with the EVM Your personal session expectations


Foundation Exam

Paper based and closed book exam Only pencil and eraser are allowed Simple multiple (ABCD) choice exam Only one answer is correct 50 questions, pass mark is 25 (50%) 1 hour exam No negative points, no “Tricky Questions”

No pre-requisite for Foundation exam

Sample, one (official) mock exam is provided to you

Candidates completing an examination in a language that is not their mother tongue, will receive additional time


Practitioner Exam

Paper based and open book exam Reference to EVM Handbook ONLY

Handbook is provided for students

3 hour exam Complex multiple choice - Objective Test 8 x 10 complex multiple choice questions =

80 question items/lines, pass mark 50% (40)

Dictionary/translation lists allowed Non-scientific calculator for basic

calculations

Pre-requisite: Foundation examCandidates completing an examination in a language that

is not their mother tongue, will receive additional time


EVM syllabus section code and title

OV Overview

DF Definition

PL Planning

DC Data Collection

AR Analysis, Review and Action

CM Change Management

RM Risk Management

SR System Review

LE Learning from Experience

Syllabus Handbook Page

Module slide number / total module slides

Slide number / total slides

Module number and name

EVMhandbook page

EVM syllabus section code


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1. Introduction to Earned Value Management

2. EVM process

3. Planning

4. Data collection

5. Analysis review and action

6. Change management

7. Risk management

8. System review

M01 - Introduction to Earned Value Management 2/11 | 10/88

Comprises:

Definition and authorisation of scope of work Development of a baseline against which cost,

schedule and technical performance can be measured Objective performance measurement Variance analysis and corrective action reporting Disciplined and timely incorporation of baseline changes

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“a project control process based on a structured approach to planning, cost collection and performance measurement. It facilitates the integration of project

scope, time and cost objectives and the establishment of a baseline plan for performance measurement”

APM Body of Knowledge 6th edition


Helps management by:

Enabling an objective measure of project status Providing basis for estimating final cost Predicting when the project will be complete Supporting effective management of resources Providing a means of managing and controlling change

Also provides

Verifiable status reports Clear objective analysis Considered reasoning Accountability in the decision-making process Awareness of impact on the schedule and cost Visibility of results

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9M01 - Introduction to Earned Value Management 4/11 | 12/88

Small

Short

L----o----n----gM01 - Introduction to Earned Value Management 5/11 | 13/88

Time/Schedule

Cost/Budget Quality

Scope

WBS OBS

Baselined Plan

Performance measurement and analysis

ControlledChange


BCWS (baseline)(Budgeted Cost of Work

Scheduled)

Planned Value(PV)

The approved budget for the work scheduled to be completed by a specified date; also referred to as the budgeted cost of work scheduled (BCWS).

ACWP (earned value)(Actual Cost of Work

Performed)

Actual Cost(AC)

The costs actually incurred for the work completed by the specified date; also referred to

as the actual cost of work performed(ACWP).

BCWP(Budgeted Cost of Work

Performed)

Earned Value(EV)

The approved budget for the work actually completed by the specified date; also referred to as the budgeted cost of work performed (BCWP).

EAC(Estimate at Completion)

Your estimate today of the total cost of the task.

ETC(Estimate to complete)

Your estimate of the amount of funds required to complete all work still remaining to be done on

the task.

13M01 - Introduction to Earned Value Management 7/11 | 15/88

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Planned budget (BCWS)(baseline)


Time‘now’

Actual Cost(ACWP)

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Earned value(BCWP)

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Actual Cost(ACWP)


Time‘now’


1. Introduction to Earned Value Management

2. EVM process

3. Planning

4. Data collection

5. Analysis review and action

6. Change management

7. Risk management

8. System review

M02 - EVM process 2/14 | 21/88

1. Definitionof scope

6. Risk Management

5. Change Management

2. Planning4. Analysis,

review, action

3. DataCollection

M02 - EVM process 3/14 | 22/88

M02 - EVM process 4/14 | 23/88

Concerned with: Defining the work to be done – WBS Assigning work to parts of the project organisation – OBS Aligning and combining the WBS and OBS – RAM

Key activities: Review the project requirements and establish key deliverables Develop a Work Breakdown Structure (WBS) Develop an Organisation Breakdown Structure (OBS) Generate a Responsibility Assignment Matrix (RAM), identifying

control accounts Produce a Work Breakdown Structure Dictionary (WBSD) down to

work packages and planning packages Determine and agree flowdown of EVM into subcontracts

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M02 - EVM process 5/14 | 24/88

Statement of Works (SoW) A narrative description of products or services to be delivered by

the project

Defines the project scope

Includes: Overall requirements Deliverables

Forms the basis for allocating: Work Budget Schedule

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M02 - EVM process 6/14 | 25/88

ProjectScope

Component 2.1

High-level work

element 2

Component 2.2

Component 1.1

High-level work

element 1

Component 1.2

M02 - EVM process 7/14 | 26/88

Purpose Describe the entire scope of the work to be undertaken by the

project

For each element of the WBS, should contain Contract number WBS number and title WBSD issue number and date Contract paragraph number Statement of work

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M02 - EVM process 8/14 | 27/88

ProjectOrganisation

Team Manager 2.1

Function/Department 2

Team Manager 2.2

Team Manager 1.1


Team Manager 1.2

M02 - EVM process 9/14 | 28/88

Control Account

Control Account

Control Account

Control Account

ProjectOrganisation

Team Manager

2.1


Team Manager

2.2

Team Manager

1.1


Team Manager

1.2

ProjectScope

Component 2.1

High-level work

element 2

Component 2.2

Component 1.1

High-level work

element 1

Component 1.2

Work BreakdownStructure (WBS)

OrganisationBreakdown

Structure(OBS)

Statement of Work (SoW)A narrative description of products or services to be delivered by the project

Responsibility Assignment Matrix (RAM)

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41M02 - EVM process 10/14 | 29/88

Requirements for EVM need to be reflected in any subcontracts

Subcontractors plans should be represented within the project plans/schedules

Decision needs to be taken about the level of detail to incorporate in the project plans/schedules Not too much detail Not insufficient detail

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M02 - EVM process 11/14 | 30/88

M02 - EVM process 12/14 | 31/88

M02 - EVM process 13/14 | 32/88

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