Unlocking Project Performance: Earned Value Management (EVM) (18 PDUs)

Earned Value Management (EVM) is a powerful and widely-used technique for measuring and controlling project performance. Unlike traditional cost control methods that solely focus on budget and actual costs, EVM introduces a crucial third dimension: work performed. By integrating schedule, budget, and actual progress, EVM provides a comprehensive and insightful view of project health.

Key Principles of EVM:

• Planned Value (PV): The budgeted cost of work scheduled to be performed by a specific point in time.
• Earned Value (EV): The value of the work actually completed to date, measured against the planned value.
• Actual Cost (AC): The actual cost incurred to date to complete the work performed.

By analyzing these key metrics, EVM provides valuable insights into:

• Schedule Performance:
• Cost Performance:

Beyond Government and Defense:

While often associated with government and defense contracts, EVM is a valuable tool for a wide range of industries. Companies like The Walt Disney Company, Siemens, Westinghouse, Honeywell, and General Electric, along with numerous engineering and construction firms, successfully utilize EVM to enhance project control and improve profitability.

The Value of EVM Certification:

The Association for the Advancement of Cost Engineering (AACE International) recognizes the significance of EVM expertise by offering the Earned Value Professional (EVP) certification. This prestigious credential signifies a high level of proficiency in EVM principles and their practical application.

Key Learning Objectives:

• Fundamentals of EVM: Understand the core concepts and principles of Earned Value Management.
• Key EVM Metrics: Calculate and interpret key EVM metrics, including PV, EV, AC, SV, SPI, CV, and CPI.
• Developing EVM Plans: Create and implement effective EVM plans for projects of varying complexity.
• Analyzing EVM Data: Analyze EVM data to identify potential problems, assess project performance, and make informed decisions.
• Preparing EVM Reports: Generate clear and concise EVM reports to communicate project status to stakeholders.
• Case Studies: Analyze real-world case studies to understand the practical application of EVM in different project contexts.

Invest in EVM Expertise:

By mastering EVM principles, you'll gain a powerful tool for enhancing project control, improving project outcomes, and demonstrating your expertise in project management.