Grok Earned Value The Complete and Remarkably Easy How-To
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1 student enrolled
Wishlisted Wishlist

Please confirm that you want to add Grok Earned Value The Complete and Remarkably Easy How-To to your Wishlist.

Add to Wishlist

Grok Earned Value The Complete and Remarkably Easy How-To

EVERYTHING you need to learn Earned Value from the ground up
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1 student enrolled
Created by Simon Harris
Last updated 1/2017
English
Curiosity Sale
Current price: $10 Original price: $20 Discount: 50% off
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • ...to USE the Earned Value formulas to express project status
  • ...create that vital CAPM / PMP memory-aide dump at the start of your exam
View Curriculum
Requirements
  • You need a command of English, but that is all
  • Awareness of project concepts such as scheduling will help but they are explained - briefly
Description

Earned Value has an undeserved reputation as hard. It is not.

Earned Value is a simple topic whose explanation is often hidden in a forest of initials and whose explanation rarely includes the perspective that makes 'value' a meaningful part of its name.

Because 'Value' is an unintuitive and misleading term when used in most project contexts, and because explanations in initials are hard to understand earned value is seen by many as hard when the real fact is that it is often poorly taught.

SO THIS course places earned value management's explanation in context before we start on the formulas and avoids initials until after the formulas are presented in simple and animated graphically form.

This course is a gentle journey but a comprehensive one that goes beyond exam needs.

  • L1 is Simon's welcome, hello and why this course's coverage is makes earned value easy to learn
  • L2 gives context,  (and is interrupted by my cat Tyger*)
  • L3 explains creating baselines and earned value's key enabler, 
  • L4 Dips into PMBoK-G activities for setting up Earned Value, 
  • L5 details building a risk inclusive Planned Value (Planned Cost) baseline in Gantt form, 
  • L6 details tracking progress including risks and changes happening that disrupt the baseline, 
  • L7 Explains Earned Value reporting via a slow build-up of a graphical representation 
  • L8 Repeats L6 but with a story and numbers and calculations,
  • L9 Covers ways to recognise when value is earned, often called Earned Value Types', 
  • L10 Focusses on how to remember the formulas, 
  • L11 asks what extra coverage would you like added to the course and 
  • L12 is the outtake from my cat #WeeTygerBoy interrupting during L2

*Instructional design tells us that people remember the unusual, unexpected or odd. My purpose creating this course is to help you retain (remember) the information I give you - thus the unusual is beneficial :-)

Who is the target audience?
  • This course is right for you if you want to understand Earned Value for use IRL (In-Real-Life)
  • This course is ideal if you want to understand Earned Value for the CAPM and PMP exams
Students Who Viewed This Course Also Viewed
Curriculum For This Course
12 Lectures
01:08:42
+
Grok Earned Value - The Whole Journey
12 Lectures 01:08:42

Simon introduces himself, our topic - How to use Earned Value Management for real and how to prepare an Exam Aide Memoir for the CAPM and PMP exams - and his more than 10years experience with Earned Value.

Earned Value has an undeserved reputation as hard. It is not.

Earned Value is a simple topic whose explanation is often hidden in a forest of initials and whose explanation rarely includes the perspective that makes 'value' a meaningful part of its name.

Because 'Value' is an unintuitive and misleading term when used in most project contexts, and because explanations in initials are hard to understand earned value is seen by many as hard when the real fact is that it is often poorly taught.

SO THIS course places earned value management's explanation in context before we start on the formulas and avoids initials until after the formulas are presented in simple and animated graphically form.

This course is a gentle journey but a comprehensive one that goes beyond exam needs.

  • L2 gives context, 
  • L3 explains creating baselines and earned value's key enabler, 
  • L4 Dips into PMBoK-G activities for setting up Earned Value, 
  • L5 details building a risk inclusive Planned Value (Planned Cost) baseline in Gantt form, 
  • L6 details tracking progress including risks and changes happening that disrupt the baseline, 
  • L7 Explains Earned Value reporting via a slow build-up of a graphical representation 
  • L8 Repeats L6 but with a story and numbers and calculations,
  • L9 Covers ways to recognise when value is earned, often called Earned Value Types', 
  • L10 Focusses on how to remember the formulas, 
  • L11 asks what extra coverage would you like added to the course and 
  • L12 is the outtake from my cat #WeeTygerBoy interrupting during L2
Preview 02:16

For most people the technique's name 'Earned Value' is unintuitive and misleading.

The name makes complete sense when seen from the perspective of "Has the
supplier earned the value of the invoice they have sent us?". In this
lesson Simon explains how "EV" only applies to the development
project activity.

Counter intuitive for our day-to-day use of the terms value
and earned which in normal conversation we typically use for the ideas related
to the post project flow of benefits. In every-day life when benefits exceed
cost we think that is 'value'. This isn’t quiet EV's use of the word 'Value'.

L2 evm s2 Concept and interupt from WeeTygerBoy
05:29

An 'On-A-Page' overview of the project planning journey that positions the critical nature of acceptance criteria, quality control and the ability to confirm that work has been done and results match their specification.

 

Preview 08:45

L4 evm s4 linking scope quality and pmbok
02:17

If a baseline is to be of use to us IRL (in Real Life) then it must include responses to uncertain events that we identify and then manage if required. This is provision for uncertainty of estimates, Risks, Issues and Changes.

The Performance Measurement Baseline includes time and cost for the Known Knowns and the Known-UnKnowns.

L5 evm s5 Turning Activities and dependencies into a risk inclusive baseline
03:04

At L6 our journey covered so far has built a reliable, uncertainty inclusive base-line against which we can track progress achieved and accommodate the affects on the baseline when sh*t-happens. This is an IRL (In-Real-Life, beyond the exam need).

We have the work scheduled. We have the quality criteria in place. We are now all-set to recognise and track value earnt, as its earnt.

L6 evm s6-s7 build pv and track KnKn and KnUnk in the gantt
03:49

L7 is the comprehensive exploration of Earned Value Management's graphical representation of Earned Value and Earned Schedule carefully crafted to focus on meaning and avoid TLAs (Three Letter Abbreviations - yes, this is a joke based on irony).

The lesson's content is the animated evolution of a graphical representation of a project's status. A time-now snap-shot of project status reporting is built up with explanation of the interpretation of each element as it is added.

AFTER a full catalogue of earned value components have been discussed their true earned value formulae and abbreviations are substituted into the now familiar and comfortable picture.

L7 evm s8-s9 First look at graphs meaning and formulas
11:44

As I explained in L2 and reinforced in L3 the key to Earned Value is that during preparation and planning the project team and customer are able to state clearly the Definition of Done and the intermediate states of done that are on the way. We need clearly stated tests that show when 'project outputs', 'business outcomes' and 'business benefits' are complete or their degree of completion. Those scales and methods of measurement must be in place at the start of each sprint or at project start.

When the tests to apply are known they may be impossible, difficult or too expensive to apply (in time, cost or energy). In these cases multiple alternate means of 'value' recognition can be considered. These are 'Earned Value Types'

For the exams the only 'Earned Value Types' you are required to know are %-Complete, Milestone based, 0-100 and 50-50. IRL (In Real Life there are more that are useful - and in Microsoft project much less!)

Preview 07:38

A repeat of building a project status graph in Earned Value from scratch; this time using a scenario, formulas and numbers to perform the calculations.

L8 evm s10 a scenario its graph and its numbers
08:50

Now I offer guidance on how to recall the EV formulas and their positive or negative interpretations.

This is pure exam focus aided to make creation of an exam Aide-Memoir easy.

L10 evm s12 the easy way to remember the formulas
05:33

Your exercise or Home-Work is to practice creating the exam 'reference-sheet'

Let me know if you'd like me to extend the class in any way. Items I could add are:

  • Earned Value using the 'old' initials BCWS, BCWP and ACWP. As presented the course uses the 'New' initials PV, EV and AC
  • Telling the project's story by inspecting the shape of the EV graphs
  • Turning project Work Performance Data into Project Work Performance Information
  • Using EV in Microsoft Project and Project Libre

L11 also includes details of what 'beyond the exams' training we provide organisations.

L11 evm s14 Exercise and thanks and further offerings
03:26

Not required to understand EV! The out-take with my cat #WeeTygerBoy who

interrupted filming of L2.

L12 Outtake with WeeTygerBoy
05:51
About the Instructor
Simon Harris
0.0 Average rating
0 Reviews
7 Students
2 Courses
Project Manager and Trainer

Simon has 30 years project management experience, the last 15 of which have been mixed with training others in everything from the basics to advanced topics

Simon's teaching skills are enhanced by his own experience; "During those 30 years I've managed to get it wrong and get it right and it is those lessons learned that I pass to others. I take the guidance out of the books and into use in the workplace. Some of my teachings are a pragmatic mix of approaches to real-world project management and the rest are exam focussed. Both have there uses."

 Simon lives in Edinburgh Scotland with his wife Lea and sometimes their children Jessica and Toby - when they are home.