Earned Value Professional (EVP) – AACE

Programma

EARNED VALUE PROFESSIONAL (EVP) – PROGRAM

The AACE - Earned Value Professional (EVP) training is an interactive mix of lectures. Many practical exercises are included in the training so that you can immediately put your newly acquired knowledge into practice. In addition to the training, you should take into account 8 - 14 hours of self-study.

DAY I - 3: PROJECT PERFORMANCE MANAGEMENT AND CONTROLS USING EARNED VALUE MANAGEMENT (EVM)

1. Introduction to the Earned Value Management (EVM) method

• Principles of program and project performance management using Earned Value Management (EVM)
• Integrating scope, cost, time, risk, and responsibilities for managing performance
• The history and development of EVM as the de facto standard for project control
• Fundamental concepts of EVM
• Current extensions and emerging developments in EVM
• Overall benefits and impacts to the organization
• Overview of EVM standards
• The AACE's Earned Value Professional EVP certification
• The EVM system

2. Review of the Earned Value Management (EVM) model

• The EVM base metrics and data points
• Measuring cost and schedule variance
• Measuring scope, cost, and schedule performance (indices)
• Trend analysis and forecasting
• Recovery performance indices
• Graphical representations and interpretation of project performance

3. Practical application of Earned Value Management (EVM)

• EVM in Initiation
  • Engaging stakeholders
  • Establishing the scope and boundaries of the EVM system
  • Types of EVM implementation
  • Tailoring the EVM system
  • PRACTICAL REAL-LIFE EXAMPLES AND CONSIDERATIONS
• EVM in planning – Developing the Performance Measurement Baseline (PMB)
  • Considerations for scope planning
  • Consideration for cost estimating and budgeting
  • Considerations for schedule development
  • Assigning responsibilities: establishing Control Accounts (CA) and Control Account Managers (CAMs)
  • Considerations for risk planning and assessment
  • Developing an integrated baseline and establishing the PMB: integrating scope, cost, schedule, and risk
  • Considerations for agile/hybrid environments
  • PRACTICAL EXERCISE
• EVM in execution, monitoring, and control
  • Implementing the EVM system: developing competencies and capabilities
  • Collecting data for EVM: scope, schedule, and cost
  • Measuring and interpreting performance
  • Top-down analysis and diagnosing the causes of performance
  • Devising potential responses based on "what-if analysis" for scope, cost, and schedule
  • Integrated change control
  • Reporting performance
  • Considerations for agile/hybrid environments
  • PRACTICAL EXERCISE
• EVM in closure
  • Continuous improvement of the EVM system
  • Lessons learned and knowledge management
  • Evaluating project performance
  • Recording EVM historical data
  • PRACTICAL EXAMPLE AND CONSIDERATIONS
• The role of EVM in:
  • Project risk management
  • Project quality management
  • Project Human Resources Management (HRM)
  • Project procurement management: monitoring contractors' performance
  • Project stakeholder and communications management
  • Project knowledge management

4. Real-life examples and critical factors for organizational adoption

• Presentation of real-life examples of EVM used in a variety of projects
• Critical factors for organizational adoption

5. Extensions to the standard EVM model

• The data quality control system: ensuring reliability of EVM data
• "What-if" scenario analysis models and forecasting
• Advanced graphical representations: tornado charts, integrated analysis, dashboard
• Decision-making rules and heuristics
• Measuring and managing risk management performance: the RPI index
• Measuring and managing quality performance: the QPI index
• Applying EVM to program management: managing performance of benefits realization
• Applying EVM to portfolio management: managing ROI performance

6. Advanced topics in EVM implementation

• Considerations for scheduling the work
• Considerations for budgeting the work packages and the schedule activities
• Rules of credit and measurement methods to value the work performed
• Use of multiple baselines: owner's CAPEX vs contracts performance
• Considerations for recording actual cost
• Data quality system to control the reliability of EVM information
• Integration with the risk management process
• Key challenges in managing project changes and updating the PMB
• Integrating EVM performance information with the project cash-flows: schedule of values and the project funding requirements

7. Review of challenges, pitfalls, and critical factors for successful implementation

DAY 4 + 5: EARNED VALUE PROFESSIONAL CERTIFICATION EXAM REVIEW

1. Certification process and requirements

2. Earned Value Professional (EVP) certification exam preparation

• Organizing project/program/portfolio
  • Work Breakdown Structure (WBS)
  • Organizational Breakdown Structure (OBS)
  • Responsibility Assignment Matrix (RAM)
  • Work Authorization (WA)
• Planning, scheduling, and budgeting
  • Critical Path Method (CPM) Schedules
  • Milestones and deliverables
  • Technical performance requirements
  • Performance Measurement Baseline (PMB)
  • Risk assessment and mitigation
  • Control Account (CA), Work Packages (WP), Planning Packages (PP)
  • Cost elements
  • Undistributed budget
  • Over Target Baseline (OTB)
  • Integrated Baseline Review (IBR)
  • Earned Value Management methods/techniques

3. Accounting considerations

• System identification
  • Direct costs
  • Control account actuals
  • Indirect costs
  • Unit and lot costs
  • Material planning and control
• Progress reporting, analysis, and management reports
  • Progress reporting
  • Variance reporting
  • Customer reporting
  • Risk mitigation

4. Progress reporting, analysis, and management reports

• Managerial analysis
  • Estimate at completion
  • Estimate to complete
  • Subcontract management
• Change management
  • Change control
  • Reconciliation
  • Retroactive changes

Sample questions and EVP mock exam

Additional online material for self-study

Preparation

Docent(en)

This Earned Value Professional (EVP) training course is delivered under the Authorized Education Provider (AEP) accreditation program by AACE International. Your instructors are highly qualified and experienced international experts in the fields of cost engineering and project management. They will provide you with a unique blend of theoretical information and practical challenges and make sure that you will successfully pass the EVP exam! Your instructors are:

Alexandre G. Rodrigues, Eng PhD PMP
Dr. Alexandre Rodrigues has over 30 years of professional experience and is the founder and executive partner of PMO Projects, a consulting firm highly specialised in modern project management practices, with a special focus on areas such as performance measurement based on the Earned Value Management (EVM) method, cost engineering, project planning and scheduling, integrated risk management, and benefits management in large programmes and portfolios. PMO Projects has been operating in the international market for over 20 years, providing services to some of the most prestigious international organisations in the adoption of these practices and in a wide range of industry sectors, including defense, IT, mining, energy, pharmaceuticals, the public sector, and infrastructure.

Alexandre is one of 150 internationally recognised leading experts from the Cutter Consortium, a renowned international IT research company member of Arthur D. Little. He is president of the Portuguese Section of AACE International and has been coordinator/collaborator for the development of ISO 21500/21508 (EVM)/21511 (WBS) standards until September 2024, an initiative to which he continues to contribute as a volunteer. He was the lead author of the EVM standards published by the Project Management Institute (PMI), including the ANSI/PMI 19-006-2019 standard currently in force. Throughout his career, Dr Alexandre Rodrigues has lectured to undergraduate, postgraduate, and MBA courses at various universities in Europe, the United Kingdom, Australia, South America, and Africa.

Dr. Sean T. Regan, PhD CCP FAACE CEP EVP MRICS
Dr. Sean Regan has over 40 years of experience in planning, scheduling, estimating, cost engineering, contract administration, risk management, project management and Total Quality Management (TQM). He is experienced in implementing project management and construction project control systems for transportation, facilities, hospitality, telecommunications, power, infrastructure, mining & metals, nuclear, and petrochemical projects in over 56 countries in all 7 continents. Sean has experience with FIDIC, DTRA/DCMA/FAR, IMF, World Bank, EBRD and Asian bank policies, and tendering in support of projects.

Sean Regan is an active member, author and presenter for AACE, PMI, ACostE, FIDIC, and Project Controls Guild. He is association member (TAG) of ISO and ISO Work Group Voting Representative on project and programme management for ANSI standard 21506, 21508, 21511 and 21512. Sean is also lecturer at Anglo American University and has been a professor at international and US universities.