P921 Earned Value Professional (EVP) Certification Exam Preparation

This 2-day course introduces you to the fundamental concepts of earned value management (EVM). It provides hands-on overview of the process of EVM, from project development to execution. You will learn the language associated with EVM. The course emphasizes the processes related to the Performance Management Baseline (PMB), the Integrated Baseline Review (IBR), and the American National Standards Institute (ANSI) for EVM systems. You will also learn about evaluating and computing basic EVM metrics and EVM metrics-based Estimates at Completion (EAC).

You will gain valuable EVM skills through hands-on exercises that take you from EVM project baseline formation at the beginning of the project life cycle through the challenges of ongoing assessments and reassessments of cost, schedule and performance changes.

The course provides an excellent review of the studying requirements for applying for the Earned Value Professional (EVP) Certification exam by the Association for the Advancement of Cost Engineering (AACE). AACE International’s newest certification program is designed to recognize the Earned Value Management Professional. The EVP certification program offers specialty credentials for the professional who wants to validate his/her skills and be designated as an EVP. Many professionals practice earned value management principles during the project life cycle. Until now, there has been no certification effectively measuring the Earned Value Professional’s capabilities – except through real-life performance. AACE’s EVP certification provides an exam and experience validation that lets industry and users identify those who are competent professionals within the EVM discipline.

Who Should Attend

The course is primarily intended for persons with responsibility for managing projects (project or program managers), or associated with the management of projects. The latter has included persons with responsibility for project oversight and governance (e.g. project directors and members of program management offices)

Course Outline

Introduction

  • Understanding Projects Definitions and Characteristics
  • Project Success and Delivery Pains

Earned Value Management (EVM) Process

  • EVM and cost, schedule and performance
  • EVM variables and metrics
  • Understanding the EVM reporting process

Project Scope Management

  • Work breakdown structure (WBS) and organizational break down structure (OBS)
  • Cost, schedule and performance criteria
  • Scope definition and reporting
  • Responsibility assignment matrix

Accounting Systems

  • Control accounts for projects
  • Accounting system and WBS/OBS
  • Costs

Scheduling and Budgets

  • Scheduling techniques
  • Master schedule and Schedule Compression
  • Budget and Performance Measurement System (PMS)
  • Resource leveling

Project Planning and Measuring Progress

  • Elements of the Performance Measurement Baseline (PMB) and Baseline realism
  • Project/program funding and performance budgeting
  • Resource loading schedule and networking
  • Planning packages and work packages

Data Collection and Estimating Cost at Completion

  • Cost and schedule variables at the control account level
  • Budget, earned value, actual cost, schedule variance and cost variance
  • Cost to complete a project using earned value data
  • Cost Performance Index (CPI), Schedule Performance Index (SPI), To Complete Performance Index (TCPI)

Change Control and Baseline Maintenance

  • External and internal changes on PMB
  • Change control and Programmatic changes and performance variances
  • Over Target Baseline (OTB) and Budget at Complete (BAC)

Performance Reporting

  • Communication Plan
  • EVM, Cost Performance, Cost/Schedule Status and Baseline Reports