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Upcoming Webinars

Earned Value Management Systems - Lesson 2 of 2

Oct 5, 2016 12:00 PM EDT (UTC-4)
PREMIUM webinar

The webinar is the second of two lessons and describes how to setup the WBS, schedule, budget, cost breakdown structure and organization breakdown structure to support the EVMS.

On-demand Webinars

Using Earned Value Management Concepts to Improve Commercial Project Performance

by Ronald Scott Brunton
February 18, 2016 | 59:57 | Views: 2,862 | PDUs: 1.00 | Rating: 5.85 / 7

This presentation will place EVM within the context of a maturing enterprise looking to understand what EVM is and is not, what it can do, and how to discuss a ‘tailored’ implementation. Attendees will learn how Earned Value is incorporated within the PMBOK®, within the project management methodology and how to ‘speak’ about the values delivered by EVM in terms of objective Technical Performance Measures (TPMs).

Effect of Risk Mitigation Cost on EVM

by Javed Hasnat
November 25, 2014 | 45:36 | Views: 634 | PDUs: 1.00 | Rating: 5.19 / 7

EVM has proven to be an effective method to measure project performance. However, the variables used to calculate EVM performance don't always clearly portray reality. One of those factors are the costs related to risk mitigation.

Security Considerations for EVM Projects

by Sayed Hussaini
July 31, 2014 | 63:29 | Views: 996 | PDUs: 1.00 | Rating: 5.26 / 7

Gartner Group predicts that the bulk of new IT spending by 2016 will be for cloud computing platforms and applications with nearly half of large enterprises having cloud deployments by the end of 2017

Integrating Risk Management with Earned Value Management

by Joseph Houser, Cynthia C. Mercer
May 28, 2014 | 78:05 | Views: 373 | PDUs: 1.00 | Rating: 5.03 / 7

All future events come with some degree of uncertainty. When the uncertainty affects the outcome of the event in a negative manner, it is considered a risk. The ability to quantify the likelihood of the risk’s occurrence with the monetary value of its impact is a major goal of Risk Management (RM).

EDM: Earned Duration Management a Novel Approach

by Homayoun Khamooshi
April 29, 2014 | 62:47 | Views: 207 | PDUs: 1.00 | Rating: 4.61 / 7

The concept of schedule monitoring and control as one of the most important functions of project management has not been fully exploited. That could stem from the dominance of Earned Value Management Systems which use cost indicators to measure schedule preformance. This can be misleading. In contrast to Earned Value and Earned Schedule, the authors have developed the Earned Duration Management (EDM) which uses certain indices to measure progress and performance of schedule and cost.

Financial Management of Projects for the EVM

by Javed Hasnat José Ângelo da Costa Pinto
March 13, 2014 | 61:33 | Views: 64 | PDUs: 1.00 | Rating: 5.00 / 7

This presentation will present the definition and the development of a process to plan, manage, and report financial data of the budget and resource status, performance and activities in support of a project or program that can be repeatable.

See all Earned Value Management On-demand webinars

Save Time With Tools + Templates

Earned Value Management (EVM) Calculator

PREMIUM deliverable
by Andy Jordan

The basic premise of EVM is that we can assign a value to each task. We can then determine the progress that we have made on our project relative to schedule by comparing the amount of work completed with the amount of work planned to have been completed at the reporting date, and the progress relative to budget by comparing the amount of money that we have actually spent with the amount of money that we planned to spend.

ezEVA Template

PREMIUM deliverable
by Andrew Makar, PMP

The ezEVA template is a historical earned value tracking tool used to measure current progress and forecast future project performance. Use this in tandem with our EVA series of articles.

Calculating Earned Value

deliverable

Earned value is a project technique you can use to monitor, track and report on the performance of any project. This document is a cheat-sheet of formulas you can use to confidently calculate earned value.

Understanding Earned Value Analysis

presentation
by Andrew Makar, PMP

Earned value analysis is an excellent technique to assess project health and apply metrics to manage your project. Use this presentation to conduct an earned value orientation for your team members.

Learn From Others

When Earned Value Meets Agile

by Madhu Velamati

The purpose of this article is to guide project managers in implementing an earned value management system by following ANSI/EIA-748 guidelines in a manner consistent with agile software development methodology.

Earned Value Management for Beginners

by Madhur Shah

Earned value management is a technique that integrates scope, cost and time to highlight how the project has done in the past and predict how it is expected to do in the future. This article discusses a few basic concepts of EVM and is useful for anyone looking to get started on this topic, as well as for candidates preparing for certification.

Project Workflow Framework: An Error-Free Project Management Environment

by Dan Epstein

The project workflow framework enables even the inexperienced project manager to use detailed step-by-step guidance, examples, tools and practical advice, freeing experienced project managers to manage programs and portfolios and promoting better use of project resources to reduce the cost of projects across all industries.

A Theoretical Approach to Traditional Project Metrics-Bridging the Gap Between Earned Value and Critical Path Project Management

by M.W. Settlemire, PMP

Since work completed from tasks not on the critical path does not affect the completion date of a project, it is important to differentiate tasks that are “critical” from those that are not in order to better monitor and control them. The project performance metric, critical path task index (CPTI), offers a more holistic view in terms of schedule performance for tasks directly related to schedule completion.

Is Earned Value Management a PM Technique?

by David Stark

Earned value management is widely valued as a key project management technique. Despite this, it’s not a universally accepted tool for use by project managers. This article questions whether or not EVM is correctly defined as a PM technique. Is there an alternative way of looking at EVM and EVMS, one that may bring better understanding of how they interact--and under what circumstances they can be used in to support project managers?

Topic Teasers Vol. 51: Why Bother With Earned Value?

by Barbee Davis, MA, PHR, PMP, PMI-ACP, PMI-PBA

Question: Computing Earned Value (EV) has always been challenging for me, and frankly I don’t see the benefit to my project. I learned to do the math for my PMP certification, but is there a clear and simple way to get the figures, make the calculations and then find a meaningful use for those numbers? My projects keep veering off track and I need a new approach.
A. Depending on their personality type, some managers are sticklers for details. The more metrics, the better. EVM translates project data into numbers to forward to management, but has less value for the project manager who is running the project day to day.
B. While PMP prep does a great job of explaining the math of Earned Value Management (EVM), keeping the focus on information needed to pass the test means there is seldom time to go into the subject of how useful EVM can be in the workplace. It is a key tool for running successful projects.
C. Since the U.S. Department of Defense requires EVM for all of its departments and departmental contractors, there are favorable tax advantages for corporations who can state their profit figures in EVM terms.
D. EVM provides a common language that the project manager, team and management can use to communicate about how much time and how many resources should be allocated at the first of a project in order to ensure that it will be guaranteed to meet the estimated project metrics of time, cost and quality.
Pick your answer then Test Your Knowledge!

Preparing for the Exam with PMBOK Guide—Fifth Edition (Part 6): Cost Management

by Bruce Garrod

The latest in the ongoing series of articles helping you get “PMP fit” explores the often avoided Project Cost Management knowledge area. To paraphrase a well-known company, just get at it. When you have read this article and completed your studying, you may well be asking yourself why you were so concerned about it…

The Use of Task Rates in Monitoring and Evaluating Projects

by Francisco J. Toro

The author presents an approach for using a rate to monitor projects, based on the re-evaluation of two key concepts, work total, and the rate per unit of work. By periodically recalculating and updating rate values, considering the comparison of the actual work vs. the planned work, the project manager may develop reliable databases for use in future evaluations and follow-up projects.

Calculating Level of Effort: How Do We Approach It?

by Jiju (Jay) Nair, PMP

Why is LOE as important for a project as other aspects like stakeholder satisfaction, cost overshoot and schedule variance? And are you approaching it the right way?

The Path to the PMP (Part 7)

by Bruce Garrod

The best part about Project Cost Management is that there are only three processes. And while the first two processes are light dumbbell lifting, the third throws some heavy barbell exercises your way. Are you prepared?


Ask a Question

Discussion Rules

Recent Questions

Topic Originator Last Post Votes Replies
EVM. Does it lose relevance towards the end of the project?  Alejandro Guerra Nochez  Sep 12, '16 1:40 PM 
What is (or are) the best tool to control the Resource Allocation?  Fabio Araujo  Sep 9, '16 9:30 AM 
(Help for thesis) Mixing EVM with contingency budget management  Andrea Scarcelli  Sep 9, '16 8:46 AM 
Earned Value Management   Praveen Jayarama Reddy  Sep 5, '16 11:24 AM 
Agile Budget vs Estimation and Monitoring  Gnana Sekaran  Sep 5, '16 8:48 AM 
How are you guys dealing with agile practices and earned value?  Ricardo Cantu  Jul 29, '16 1:56 PM 
CSCI vs task level?  Shailesh Wagh  Jun 15, '16 3:00 PM 
Fast-Tracking vs Crashing which one impacts the quality most?  George Lewis  Jun 9, '16 11:28 AM  17 
Integration of Ms Project and Navision  Eduard Hernandez  Jun 2, '16 7:53 AM 
I would like to know the best way to approach making my management of projects more visable, to an organization that loves the idea of project management, but operate within a functional structure?  Thato Tabudi  May 19, '16 8:18 PM  12 
Does a minimum project size exist to apply EVM method?  Anonymous  May 13, '16 8:38 AM 
Productivity Benchmarking   Sameh Nasr  May 12, '16 1:25 PM 
How to track changes in pricing of material?  German Lado  Apr 28, '16 2:29 AM 
What are your thoughts on Earned Value Management?  Drake Morse  Apr 12, '16 4:18 AM 
Is there a simple method to track team cost per hour and team benefit per hour.  RAMESH PB  Mar 28, '16 2:35 AM  11 
Earned Value Dataset  Matthew Dyck  Feb 4, '16 6:07 PM 
Using Standard Deviation formula for status report  Engels Gilvert  Jan 28, '16 10:49 AM 
What are the proper cost accounting techniques to correctly distribute the baseline budget and actual cost of large costs  Panagiotis Mamakos  Jan 9, '16 9:57 AM 
Productivity Rates   Rami Kaibni  Jan 7, '16 12:43 AM 
Does control account level need to be in the same level as work package level?  Balaji Ganesan  Dec 31, '15 4:06 PM  21 
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