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How To

Implement Earned Value Business Management
(Earned Value Training & Mentoring)

Proverb – That which is not earned is never valued.

Earned Value Training

EVBM, Earned Value Business Management

Earned Value - Performance Management
Earned Value Business Management 1 - A 1 day intensive workshop
Earned Value Business Management 2 - A 2 day practical workshop
EV Executive Briefing
One-on-One Mentored email training

Mentoring and on-site assistance

1 Day workshop earns:  PMI PDUs = 7   &   AIPM CPD Points =  2 per Hr. (Cat. B08)
(PDU information: R.E.P.# 1705, Course ID: 101006)



Earned Value Business Management

Overview

Mosaic's EV courses are designed to provide students with an understanding of the power of using Earned Value as a practical control and monitoring technique to deliver added value and insight from their overall project control process. The courses are based on four key standards/systems 

  1. AS4817-2006, Project performance measurement using Earned Value. This is the first EV standard designed explicitly for use by the general business community.
  2. The Practice Standard for Earned Value Management and the Practice Standard for Work Breakdown Structures - Global standards developed by PMI, USA.
  3. Interfacing Risk and Earned Value Management, published by the Association for Project Management UK.
  4. Earned Schedule: an extension to the EV methodology to determine projected project completion dates. See www.earnedschedule.com

Mosaic recommends the PMI CoPM as a useful EV forum [see below for details]

All EV courses are delivered as workshops to facilitate the transfer of techniques and knowledge. [ See more on Mosaic's Workshops ]

EV & Scheduling Resources

Book an in-house Workshop See more on our One-on-One Individual Training
[ View a complete list of all Mosaic's public courses and workshops ]


Earned Value Business Management 1 - A 1 day Intensive Workshop
1 Day workshop earns:  PMI PDUs = 7   &   AIPM CPD Points = 5 (Cat. A18)

This workshop is designed for Business Managers and planners moving to introduce Earned Value Business Management into an organisation. At the end of the course, trainees will understand the power of using Earned Value as a practical control and monitoring technique designed to provide added value and insight to their overall project control process and appreciate the steps necessary to implement an effective EV system in their organisation.

The course is based on AS4817-2006, Project performance measurement using Earned Value (the first international EV standard designed explicitly for use by the general business community). Using Earned Value techniques in a practical business oriented manner adds significant additional information and power to project control process. This course outlines the techniques and processes needed to implement EVBM in an effective and practical manner.

Course Contents    [Download the course plan]

  • Session 1: EV Basics
    • An overview of Earned Value
      • Types of cash flow 
    • Developing a Time Phased Budget
      • Time phasing work packages
      • Assigning Costs 
    • Definition of key elements
      • PV
      • AC
      • EV
      • EAC & ETC
    • Definition of key formula
    • Assigning objective measures of performance
      • Payment Milestones 
      • Volume / count / measurement
      • Percent Complete 
      • Apportioned Effort 
      • Level of Effort 
    • Summary 
    • Exercise #1 – EV Calculations.
    • Additional Resources:
      • Appendix 1: Earned Value Basics
         
  • Session 2: Trend Indicators & History
    • Accumulating and reporting project cost and performance data
      • Adjusting actual cost data to align with performance measures 
    • Analysing the performance data 
      • Performance at ‘Time Now’ 
      • Projections ‘At Completion’ 
      • Understanding and interpreting EV data 
    • TCPI and Trends
      • Mathematics of losing
    • A Brief history of EV
      • Origins of EV
      • New practical business focus
         
  • Session 3: Project Organisation & Risk
    • Define the overall project Scope
    • Decomposing the project scope using the Practice Standard for Work Breakdown Structures 
    • The WBS Dictionary
    • Exercise #2 – Develop a WBS
    • Setting the performance management baseline 
      • Developing the Performance Management Baseline (PMB)
      • Time / Scope / Cost / Quality
    • Assigning responsibility
      • Control Accounts and CAMs 
      • Work packages
      • Planning packages 
      • Links to Schedule Levels & ‘Schedule density’
    • Interfacing Risk and Earned Value Management
      • Dealing with uncertainty and variability
      • UK practice guide on ‘Interfacing risk and earned value management’
      • Contingencies
         
  • Session 4: Business Management & Earned Schedule
    • Supporting Standards
      • The Practice Standard for Earned Value Management (PMI)
      • EIA-748-C
      • An Overview of AS4817 2006
      • Advise on their practical implementation
    • Managing the project
      • Authorising and performing the work
      • Taking management action to work the plan
      • Maintaining the performance baseline
      • The 20% stability rule
    • Earned Schedule
      • Extending EV to include Earned Schedule
      • More management information from the same data
    • Course Wrap Up

A condensed version of this overview can be presented as an executive briefing session. [ See more on Mosaic's Executive Briefings ]

Book A Workshop See more on our One-on-One Individual Training
[ View a complete list of all Mosaic's public courses and workshops ]
 

Earned Value Business Management 2 - A 2 day in-house practical workshop
2 Day workshop earns:  PMI PDUs = 14   &   AIPM CPD Points = 5 (Cat. A18)

Designed for people with limited Earned Value and scheduling training (eg staff in a new project office or in a business unit introducing project management for the first time). The 2 days of tuition will introduce trainees to the calculations, concepts and processes involved in developing an effective Earned Value control process. At its conclusion, trainees will have a solid grounding in the processes and benefits of effective Earned Value control processes.

The course is based on AS 4817-2006, Project performance measurement using Earned Value (the first international EV standard designed explicitly for use by the general business community). Using Earned Value techniques in a practical business oriented manner adds significant additional information and power to project control process. This course works through the basic techniques and processes needed to implement EVBM in an effective and practical manner.

Course Contents

  • The course structure is based on the outline above
  • Additional time is spent on the following aspects
    • Earned Value Calculations
    • Decomposing the project scope
      • Developing an effective WBS using the Practice Standard for Work Breakdown Structures
      • Practical Examples
      • The WBS Dictionary
    • Assigning responsibility and developing systems
  • Coursework is customised based on a 'real' example of the projects to be included in the organisations EV system

This course includes practical worked examples for:

  • Preparing a WBS
  • Developing and analysing a CPM, Resource levelled schedule
  • Allocating and plotting costs to develop a cost baseline
  • Recording performance and calculating EV ratios at ‘Time Now’ and projected completion values.
Standards referenced in this course include the PMI Practice Standards for WBS, Scheduling and Earned Value, AS4817 and the  Guide to Interfacing Risk and Earned Value Management

Book A Workshop
[ View a complete list of all Mosaic's public courses and workshops ]


Earned Value Information

Mosaic supports and recommends the proficient use of Earned Value as a key tool for the effective management of projects.

Need More Information on our Earned Value and Performance Management Training?

Complete an [Information Request Form] or simply email your request to:- training@mosaicprojects.com.au
[ View a complete list of all Mosaic's public courses and workshops ]

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