|Course||Earned Value Management (EVMS) [FN000429/CR/01]|
|Requal. Interval||One Time Only|
|Contact||Dean A Hoffer|
|Target Audience||Employees wanting to gain basic EVMS concepts.|
|Objective||Learn how the essential elements of the EVMS guidelines are to be implemented on major projects. This course will provide the student with opportunities to work problems that reinforce the basic EVMS concepts.|
|Course Content||This 2-day course explains the Earned Value Management (EVMS) requirements as applied to the Department of Energy projects. The EVMS requirements of DOE Order 413.3 represent a disciplined project management approach for establishing an integrated baseline plan against which project schedule and cost performance is measured during the execution phase.
The ANSI-748B requirements for EVMS represent 32 guidelines or capabilities that must be part of the contractor's approach to managing projects. The 32 guidelines are divided into five sections or process areas: 1. Organization 2. Planning, Scheduling and Budgeting 3. Accounting Considerations 4. Analysis and Management Reports 5. Revisions and Data Maintenance.
Key elements include identifying Control Accounts at the correct level of the work breakdown structure; a survey of the typical earned value methodologies for determining objective measures of progress; use of the accrual accounting method to ensure accurate cost performance measurement; how to analyze significant variances and forecast expected future costs; and how to maintain the integrity of the Performance Measurement Baseline throughout the life of the project.