Course Description

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Earned Value Management Systems (647)

Credits: 3

  

All projects and programs require formal detailed planning and control systems. Without them, the work teams and functional managers have no baseline from which to manage their activities. Furthermore, organizational teams develop their own planning with little regard for other program/project participants and overall program objectives.

 

Course 647, therefore, concentrates on how to avoid inefficient use of scarce resources, constant re-planning, cost overruns, schedule slippages and failure to achieve technical objectives. You learn about effective systems for comparing the actual work being accomplished with the planned increments of work, regardless of the time period in which the work is performed and regardless of whether there is a formal customer requirement. The emphasis is on practical day-to-day use of cost/schedule performance control, earned value and project-control systems to manage a program or project.

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Subjects covered include:

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Increase Your Understanding of

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. Planning, estimating and budgeting techniques
. Work Authorization Systems
. Developing and Using Performance Metrics
. Labor and Material Management and Accounting

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Improve Your Ability to

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. Develop and use the WBS as a framework
. Organize and define project work
. Plan and budget
. Form a project baseline
. Choose the proper measurement tools
. Objectively measure performance
. Use trend and variance analysis
. Incorporate changes
. Maintain a project baseline

Texts: Earned Value Project Management, Quentin Fleming and Joel Koppelman, Project Management Institute