Event Date: May 19-21 2025 Location: Online Workshop

 

Training Objectives:
  • Develop a sound understanding of the principles, methodologies and industry best practices in Earned Value Management
  • Know how to apply Earned Value to analyse project performance and forecast cost & schedule at project completion
  • Learn to develop and work with work breakdown structures, work packages, project baselines and project forecasts
  • Learn how to control, forecast, monitor and report the cost and progress during project execution
  • Understand the basic Earned Value Management concepts
  • Use Earned Value Management to capture the project plan and to monitor and control projects
  • Relate time-phased budgets to specific tasks and/or statements of work to create a useful and realistic baseline
  • Collect Earned Value Management project data and analyze Earned Value Management data
  • Properly relate cost, schedule and technical accomplishment
  • Indicate work progress in a more objective way within and across projects
  • Supply managers with information at a practical level of summarization
  • Reliably predict the final project cost and schedule
  • Be prepared for the AACEI Earned Value Professional exam

Why now?

The course “Project Controls, Reporting and Earned Value Management” and is focusing on the Execution phase of projects. The emphasis is on Project Control, Earned Value Analysis, Management of Change, and Project Monitoring and Reporting. Because FEED Budgets can be substantive, Project Control is also important during the FEED (Front End Engineering and Design).
Attending the Strategic Project Controls, Reporting, and Earned Value Management course provides an essential foundation for anyone involved in managing and overseeing projects. One of the key elements covered in this course is Earned Value Management (EVM), a powerful methodology for tracking project performance in real-time. EVM helps project managers monitor both cost and schedule deviations by comparing the planned value of work to the actual work completed. By understanding and applying EVM, you can accurately assess the health of a project, predict future performance, and make data-driven decisions that ensure projects stay within scope, time, and budget constraints.

In addition to EVM, the course delves into advanced project control techniques and reporting methods that provide more strategic oversight. These tools empower you to assess risks early, take corrective actions when necessary, and ensure that projects are aligned with business objectives. Effective reporting is crucial to keeping stakeholders, both internal and external, informed about project progress and potential roadblocks. By mastering the art of clear, concise reporting, you’ll be able to present complex data in a way that is actionable and meaningful to decision-makers, ensuring transparency and building trust.

Moreover, the course offers professionals the opportunity to enhance their leadership and strategic thinking abilities. As you progress in project management, the ability to balance day-to-day tasks with long-term project strategy becomes increasingly important. This course teaches you not only how to manage a project efficiently but also how to align it with broader organizational goals. By equipping yourself with the knowledge of strategic project controls, you’ll be better positioned for career advancement in roles that require a high
level of expertise in managing complex projects, navigating risks, and contributing to an organization’s overall success.

Course Coverage

Day 1: Definitions, Objectives, WBS, Budgeting and Contracting

Course Introduction

  • Course objectives
  • Course program
  • Case studies

Estimating Definitions and Principles

  • Cost Engineering definitions
  • Estimates, budgets and value
  • Budget and Contingency allocation

Project Control Definitions and Principles

  • Work Breakdown Structure
  • Cost Breakdown Structure
  • Basic Earned Value terminology
  • Project baseline

Budgeting

  • Setting up a project budget
  • Allocation of budget to WBS and workpackages
  • Interaction with Contracting & Procurement

Contracting & Procurement

  • Bidding & Contract award
  • Contract Strategies
  • Work packages
  • Contract & claim management

Project Controls Introduction

  • Why Cost Control
  • Potential influences on costs
  • Pre-requisites for effective cost control
  • Cost control plan and procedures
  • Project Controls best practices

Day 2: Project Control, Earned Value Analysis, Earned Schedule Analysis

Project Control

  • Project Control objectives
  • Project Control variables
  • Project Control methodologies
  • Project Control cycle
  • Project control plan and procedures
  • Project Controls best practices
  • Schedule Control
  • Integrated Cost & Schedule Control Progress measurement

Earned Value Analysis

  • Earned Value Analysis overview
  • Evaluate Earned Value techniques
  • Define and assess Earned Value
  • Cost Variance (CV) and Schedule Variance (SV)
  • Cost and Schedule Performance Indicators
  • Forecasting on Cost and Schedule
  • Different forecasting methodologies and formulas
  • Accuracy of Cost and Schedule forecasts
  • Generate and Validate Estimate at Completion
  • Cost and Schedule performance curves

Earned Schedule Analysis and Progress

  • Trend analysis
  • Productivity analysis
  • Earned Schedule Analysis

Management of Change

  • Change Orders & Requests
  • Scope Creep
  • Management of Change
  • Additional Budget Requests

Day 3: Monitoring, Reporting & Advanced Earned Value Management

Monitoring

  • Elements of monitoring
  • Productivity
  • Progress measurement
  • Progress milestones
  • Monitoring plan
  • Cost and Schedule performance
  • Identify the steps used in updating the project status
  • Understand how performance data is used
  • Baseline Schedule date versus forecast date

Reporting

  • Reporting requirements
  • Reporting calendar
  • Reporting templates
  • Report on Performance Using EVMS Best Practices
  • Project dashboards

Advanced Earned Value Management

  • Earned Value versus Value of Work Done
  • Managing change and re-baseline
  • How to manage Project Control
  • Implementing Earned Value Management
  • Use CPI and SPI in project management
  • EVM and related management responsibilities
  • Total Cost Management
  • Baseline Schedule date versus forecast date

Rebaselining

  • Causes for rebaselining
  • CPI and SPI after rebaselining

Target Audience

This course is designed for professionals involved in cost management who wish to deepen their knowledge and skills in project cost analysis and risk management.

  • Cost Engineers
  • Cost Estimators
  • Cost Controllers
  • ProjectManagers
  • Project Engineers
  • Project Planners
  • Finance managers
  • Finance Executives

Register now / Request Brochure