Earned value management is a project control process based on a structured approach to planning, cost collection and performance measurement.
Earned value helps us manage a project by:
- providing data to enable objective measurement of project status;
- providing a basis for estimating final cost;
- predicting when the project will be complete;
- supporting the effective management of resources;
- providing a means of managing and controlling change.
Earned value provides information which enables effective decision making by knowing:
- what has been achieved of the plan;
- what it has cost to achieve the planned work;
- if the work achieved is costing more or less than was planned;
- if the project is ahead of or behind the planned schedule.
This practitioners’ course is designed to explore not only the theory but also the practicalities associated with the implementation and operation of an Earned Value Management System