Earned Value Management (EVM) helps project/cost managers, planners, owners to measure project performance. It is a systematic project management process used to find variances in projects based on the comparison of worked performed and work planned.
EVM is used on the Cost and Schedule Control and can be very useful in project forecasting. The project baseline is an essential component of EVM and serves as a reference point for all EVM related activities. EVM provides quantitative data for project decision making. If you want to control your project budget it is the technique that you need most!
Brief History:
Earned Value has been used since the 1960’s by the Department of Defense as a central part of the C/SCSC (Cost/Schedule Control Systems Criteria).
EVM is being used in a wider variety of government contracts, and is spreading through the private sector as a valuable tool for project managers.
EVM Benefits
EVM contributes to:
• Preventing scope creep
• Improving communication and visibility with stakeholders
• Reducing risk
• Profitability analysis
• Project forecasting
• Better accountability
• Performance tracking
EVM Tools: Preferably Primavera P6
Primavera provides a compliant system that dramatically reduces the work necessary to track Earned Value. Graphic representations are automatically generated using the latest project information from a centralized database.
Who should attend this Earnved Value Management Course?
Project Managers, Cost Managers, Planners, Contractosr, Owners.... and New Users.
Those who are interested to know more about this course, please login to www.icpsprojects.com or email to kent@icpsprojects.com or call Kent at 012-2538283
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