Course Length:

24 Hours

Course Description:

This course covers the basics of Earned Value Management and Cost Estimation.

Who Should Attend:

This course is specifically developed to support Project Team Leads who need to setup, provide metrics for, base decisions on, or use Earned Value Management. The course is specifically designed for those who need to meet the Federal Acquisition Certification for Program and Project Management (FAC-P/PM) program core training requirements.

Benefits of Attendance:

Upon completion of this course, students will be able to:

• Coordinate an integrated master plan for life cycle management and support.
• Assess and oversee the application of department/agency financial policies and directives as they relate to program and resource management.
• Direct and monitor risk management processes and making adjustments as necessary.
• Administer a comprehensive test and evaluation program.
• Examine and implement innovative, alternative logistics support practices.
• Plan for adequate staffing and resources across the program life cycle.

Prerequisites:

There are no prerequisites for this course.

Course Outline:

• Earned Value Management
  1. Defined
  2. Policies
  3. Methodologies
  4. Software
  5. Examples
• Scoping Work
  1. Scope Statement
  2. The WBS
  3. Decomposition
  4. Levels of Detail
  5. Documentation
  6. Lab: Scoping a Work Package
• Estimating Techniques
  1. Analogous Estimates
  2. Three Point Estimates
  3. One Time Estimates
  4. Lab: Decomposing into Assignments
• Progress Tracking
  1. Expected Levels of Detail
  2. Expected Levels of Accuracy
  3. Time and Cost Reserves
  4. Lab: Tracking Team Progress
• EVM Background Information
  1. The Triple Constraint
  2. Earned Value Terminology
  3. Earned Value Inputs
  4. Lab: Gathering EVM Inputs
• Earned Value Formulas and Calculations
  1. Indexes
  2. Variances
  3. Estimates
  4. Interpretation
  5. Lab: EVM Calculations
• Task Level Earned Value Scenarios
  1. Introduction
  2. Workshop Brief
  3. Workshop
  4. Review and Analysis
• Using Software To Compute Earned Value
  1. Spreadsheet Applications
  2. MS Project
  3. MS Project Based Reporting Workshop
• The Integrated Baseline Review
  1. Defined
  2. Need
  3. Example
  4. Usefulness