Earned value management tutorial module 7. Earned Value Management 2018-12-26

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Earned Value Management

earned value management tutorial module 7

In many situations the project manager must request additional funding as early as possible, or at least report the potential for an overrun. Prepared by: Booz Allen Hamilton. Are all changes subject to it? The project is behind schedule and will be over budget at the end of the project. Hundreds of project control professionals, project managers, and engineering discipline leads have taken this training either online or in-house. What is a Work Breakdown Structure? Prepared by: Booz Allen Hamilton.

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Essentials of Earned Value Management

earned value management tutorial module 7

This means that a new estimate is created for the remaining tasks in the project. Each index represents a performance ration to either budget or schedule. We have received lots of great positive feedback. Changing a baseline merely to compensate for current variances is inappropriate. You will learn a new Project Controls related topic, strategy, tactic, or tool every month for 12 months and get the answer to your questions live.

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Earned Value Management Tutorial Module 1 Introduction to Earned Value Management

earned value management tutorial module 7

Module 7 ­ Integrated Baseline Review and Change Control Prepared by: Booz Allen Hamilton 20 Change Control: Re-Planning When more extensive re-planning of future work is necessary and the total Control Account budget must be changed, Management Reserve may be used to increase or decrease the control account budgets. Human nature attempts to rationalize multiple points of view into one status. See the charts to the right for an overview. As our valuable client, you will receive exclusive discounts on future online training programs in our Learning Management System. A hypothetical project is presented in Template. That is why we believe that if you want to have a successful career in project controls or project management, taking this training is a must.

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Read Microsoft PowerPoint

earned value management tutorial module 7

This is the Performance data section that contains the current and cumulative cost and schedule information for the project. You will get access to all the training materials on our secure and robust learning management system using your private username and password. As before, we will add a column to the table for Schedule Variance. The change to the budget and schedule are recorded as though the contractual scope had been changed. The Variance at Completion is simply a future projected Cost Variance.

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Earned Value Management Tutorial Module 2: Work Breakdown

earned value management tutorial module 7

Problem Analysis: This section is used to explain the variance drivers, abnormal conditions and factors creating variances, and other issues, problems, and concerns. Re-planning should be accomplished within the constraints of the previously established Control Account schedule and budget. At this point the project manager transitions from gathering project information to calculating project status. Module 7 ­ Integrated Baseline Review and Change Control Prepared by: Booz Allen Hamilton 19 Change Control: Re-Planning Baseline changes caused by a re-planning of Work Packages are also subject to Change Control. An overrun contract and overrun projections are not the most important factors in the decision. During the evaluation process, there are no objective metrics to measure current health or forecast future performance. The objective of this module is to introduce you to the concepts of the Integrated Baseline Review Process and requirements for Change Control.

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Module 8: Government Required Reports

earned value management tutorial module 7

Positive variances indicate a cost savings or schedule efficiency. With the schedule variance, positive is good. While reporting status during the third week, the project manager determines his team has only completed 50 percent of the work. This is a requirement as part of a Change Control Process. This method does not assume the project finishes on budget.


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Earned Value Example

earned value management tutorial module 7

The ground rules for re-baselining the remaining effort are submitted to the procuring agency prior to implementation, and all baseline changes must be documented and tracked. It tells you the efficiency of the task. Planning a project using earned value management is no different than the. It is the amount that the project is supposed to be complete up to that status point. The project is comprised from three phases and each phase is 4 weeks long. We will add another column to our table. How much did it cost to complete the work? The variance reporting thresholds are pre-determined prior to the start of the program.

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Earned Value Management Tutorial Module 2: Work Breakdown

earned value management tutorial module 7

The second task is better but has spent one quarter too much. Module 7 ­ Integrated Baseline Review and Change Control Prepared by: Booz Allen Hamilton 13 Change Control Objectives The objectives of a Change Control Process are to: · Document, track, and communicate changes to the Performance Measurement Baseline Reconcile current budgets to prior budgets in terms of changes to the authorized work in the detail needed by management for effective control Control retroactive changes to records pertaining to work performed that would change previously reported amounts for actual costs, earned value, or budgets. This indicator tends to be a bigger red flag than other indicators. Its efficiency is two thirds of that which was planned. The planned percent complete is 30% based on the start and end dates. By reviewing these calculations, the project manager can quickly determine that the project had spent 90 percent of its budget only to only complete 50 percent of the work. Earned value analysis is an excellent technique to assess project health and apply metrics to manage your project.

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™ value management Keyword Found Websites Listing

earned value management tutorial module 7

Explanations and problem analysis reporting is only required for those variances that breech the pre-set threshold s. The following abbreviations key components are used in Table 1. Within the assignment the empty cells needs to be filled-in based on the provided information in Frank T Anbari 2003. What is the overall health of the project? The procuring agency must be consulted prior to reprogramming. The metrics provide an objective assessment of project health based on the project plan.

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Earned Value Example

earned value management tutorial module 7

This is a requirement as part of a Change Control Process. Although the modules release on a weekly basis for the duration of 6 weeks, you will have full access to the training for one year from the time of your registration. When reviewing cost and schedule variances, the project manager wants the variances to be zero or greater. Establish your own ranges as appropriate and continue to use a consistent objective definition to summarize project status. It can become extreme near the end.

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