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Earned Value Management - Basics & Deep Dive
Rating: 4.2 out of 5(33 ratings)
105 students
Created byBill Baxter
Last updated 3/2019
English

What you'll learn

  • Students will learn how to answer EVM questions typical of what they are likely to see on the CAPM or PMP exam
  • Learn how to quantitatively measure and report project progress and cost trends using EVM metrics
  • Learn how to select the correct forecasting equation for the relevant scenario / assumption set
  • Learn how to translate the language to the correct math statements, within an exam question

Course content

6 sections • 10 lectures • 32m total length

  • EVM Basics1:42

    A series of lecture segments and quizzes to help you gain a basic understanding of Earned Value Management (EVM)

    Learning Objectives:

    • Understand the EV, PV and AC metrics within EVM

    • Learn how to interpret the CPI and SPI metrics

    • Learn the various EVM formulas that enable you to forecast total project cost (EAC) and remaining spend (ETC)

    • Associate the correct EVM formulas with the correct Scenarios (assumptions about what the future will look like)

    • Learn how to use the To Complete Performance Index (TCPI) -- the ultimate B.S. Detector!

  • Segment 2 -- EVM Conceptual Overview2:24

    Provides a high-level conceptual overview of Earned Value (EV); Planned Value (PV) and what Earned Value Management (EVM) is all about.

  • Segment 3 -- Scenario 1 (Revert to Plan)4:18

    Describes EVM metrics CPI and SPI; describes formulas for 'Scenario 1' -- where we project that future work will proceed according to plan, with CPI = 1.0

  • Segment 4 -- Scenario 1, Cont'd2:51

    For 'Scenario 1' the ETC = (BAC - EV). Here we take a closer look at why this is logical.

    (BAC - EV) is the "value of the remaining work" and understand this is very important.

  • Segment 54:01

    'Scenario 2a' -- CPI Persists (Remains constant for the remainder of the project, at least on average)

    'Scenario 2b' (CPI and SPI Both Persist)

    Note that these scenario names are arbitrary -- not industry standard. We need to give them some sort of label to keep them straight in our head.

    Thinking clearly about which scenarios (assumption sets about the future) go with which ETC & EAC formulas, is very important.

  • Segment 64:07

    Learning Objective:

    • Learn how to use the To Complete Performance Index (TCPI) -- the ultimate B.S. Detector!

  • Segment 74:51

    Review and reinforcement of the scenarios

    and...

    Some drills to enhance understanding of the CPI and SPI metrics

Requirements

  • Very basic math & algebra

Description

A series of lecture segments and quizzes to help you master Earned Value Management (EVM).

Scenarios are carefully described for different assumption sets about what the future will look like.

Context is provided to help you understand which EVM formulas are relevant to which scenarios.

Exercises are used to help you internalize the various metrics you need to know (CPI, SPI, AC, ETC, EAC, BAC and so forth).

A downloadable PDF file image is included that summarizes the EVM formulas, with the scenario context.

Finally, a series of progressively more difficult practice questions with detailed explanations are used to help you deepen your understanding of the EVM discipline.

Who this course is for:

  • Folks preparing for the PMP or CAPM exams
  • Folks who need to use EVM within their job, and want to understand it better

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