How do we predict the future performance of the project? What are the real costs of the remaining works?
No, it’s not enough to make the difference between the project budget and what was spent so far, we must apply earned value measurement principles – a superior technique for monitoring and cost control as it integrates cost, time and work done, while providing the possibility of predicting future performance of the project. It is based on the principle that past patterns and trends can be used to predict future performance of the project.
No, it’s not enough to make the difference between the project budget and what was spent so far, we must apply earned value measurement principles – a superior technique for monitoring and cost control as it integrates cost, time and work done, while providing the possibility of predicting future performance of the project. It is based on the principle that past patterns and trends can be used to predict future performance of the project.
- Duration of course: 3 days , 6h of study/day
- Working method: methodology based on practical experience in projects
- Location: lOnsite / Infinity Business Center HQ or online
For
- Project and Program Managers, Project Planners, Project Engineers, end users
Benefits
- Provide professional forecasts based on calculations and mathematical models
- Earned Value Analysis answer questions crucial for a project:
- Is the project delayed or ahead of the schedule?
- How much will the remaining works cost?
- What will be the final Total Project Cost?
What you will learn
- Earned Value Analysis fundamentals, measurement techniques, deviations and indexes
- Interpretation of performance measurements
- How dedicated tools can be used (Primavera P6 EPPM)
About the trainer
Eng. Alina IVANOVIC
- Graduate of I.M.S.T. within Politehnica Bucharest with a Masters in Project Management at the Faculty of Civil Engineering of UTCB
- Project & Risk Management expertise, in all stages of Oil & Gas and Construction projects (concept, engineering, procurement, construction, testing and closing), covering roles like:
- Team Lead Project Services for the entire Siemens portfolio
- Risk Manager for OMV Petrom projects
- Project Planner for OMV Petrom projects
- Trainer CA Clarity PPM for OMV Petrom
- Advanced user of Oracle Primavera EPPM and Risk Analysis
Course structure
• Project Management basic concepts on which Earned Value Management is based
- Project Scope
- Work breakdown structure WBS
- Actvities
- Resources used in projects
- Forecast
- Budget
- Time Management
- Cost Management
- Baselines
- Financial and time forecasts
• Presenting Earned Value Management method
- Actual Cost
- Earned Value
- Planned Value
- Indexes (Cost Performance Index – CPI, Schedule Performance Index – SPI)
- Forecasting projects using EVM
- Progress and forecasts S curves
• Practical example with Primavera
- Creating a project
- Setting the type of progress for activities
- Configure layout
- Creating the Baseline
- Project update
- Best practices for schedule update
