Earned Value Management (EVM) for Project Control

Project and Program Management October 25, 2025
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Introduction

**Earned Value Management (EVM)** is the gold standard for measuring project performance, integrating scope, schedule, and cost metrics into one unified system. This intensive course teaches participants how to apply EVM principles to track project health accurately, identify variances, and forecast future performance. Participants will master the core EVM formulas and indices, enabling them to move beyond simple comparison of actual versus planned costs. By establishing and utilizing a Performance Measurement Baseline (PMB), project professionals will gain the analytical capability to make proactive, data-driven decisions and communicate project status with precision and transparency.

Objectives

Upon completion of this course, participants will be able to:

  • Master the three key EVM data points: **Planned Value (PV), Earned Value (EV), and Actual Cost (AC)**.
  • Calculate and interpret the core variances: **Schedule Variance (SV)** and **Cost Variance (CV)**.
  • Calculate and interpret the key indices: **Schedule Performance Index (SPI)** and **Cost Performance Index (CPI)**.
  • Utilize EVM formulas to accurately **Forecast** project completion (Estimate at Completion - EAC).
  • Establish and maintain a formal **Performance Measurement Baseline (PMB)** for integrated control.
  • Apply EVM principles to project reporting and develop clear, data-driven status communications.
  • Understand the difference between **Integrated Baseline Review (IBR)** and EVM process audits.
  • Make proactive, corrective decisions based on EVM metrics to bring the project back on track.

Target Audience

  • Project Control Officers (PCOs) and Project Schedulers
  • Project Managers and Program Managers
  • Financial Analysts and Budget Managers supporting capital projects
  • PMO Staff responsible for standardized performance reporting
  • Senior Stakeholders who need to interpret project health metrics

Methodology

  • Individual Exercises: Extensive practice calculating all key EVM metrics (CV, SV, CPI, SPI, EAC, TCPI)
  • Group Case Studies: Analyzing project scenarios using EVM data to diagnose problems and recommend corrective action
  • Workshop: Designing an EVM dashboard for executive presentation
  • Discussions: Strategies for gathering accurate AC and EV data from project teams
  • Simulation: Tracking a project over multiple periods using EVM and updating forecasts

Personal Impact

  • Mastery of the industry standard for integrated project performance measurement.
  • Increased analytical capability to accurately predict project outcomes and variances.
  • Enhanced credibility with sponsors through transparent, data-driven performance reporting.
  • Ability to move beyond simple status reporting to proactive, corrective project control.
  • Acquisition of a highly sought-after, specialized project control skill.

Organizational Impact

  • Standardization of project performance measurement across the organization (PMO).
  • Improved accuracy in financial forecasting and capital expenditure management.
  • Earlier identification of project problems, allowing for timely, cost-effective intervention.
  • Increased transparency in project portfolio health for executive decision-making.
  • Higher project success rates due to rigorous, data-driven project control.

Course Outline

Unit 1: EVM Fundamentals and the Performance Baseline

Concepts and Integration
  • Defining EVM: The integration of scope, schedule, and cost into one measurement system.
  • Mastering the three basic EVM data points: PV, EV, and AC.
  • The process of establishing the **Performance Measurement Baseline (PMB)**.
  • Understanding how the Work Breakdown Structure (WBS) drives EVM application.

    • Unit 2: Measuring Performance: Variances and Indices

    Calculations and Interpretation
    • Calculating **Cost Variance (CV)** and **Schedule Variance (SV)** and their significance.
    • Calculating and interpreting the efficiency metrics: **Cost Performance Index (CPI)** and **Schedule Performance Index (SPI)**.
    • Analyzing the relationship between CV, SV, CPI, and SPI for a holistic project view.
    • Techniques for using EVM metrics to diagnose the root cause of project performance issues.

      • Unit 3: Forecasting Project Completion

      Estimation and Projection
      • Mastering the formulas for **Estimate at Completion (EAC)** using various performance assumptions.
      • Calculating **Estimate To Complete (ETC)** and **Variance at Completion (VAC)**.
      • Techniques for selecting the appropriate EAC formula based on project maturity and performance trends.
      • Using EVM for long-range financial and schedule forecasting and resource planning.

        • Unit 4: Advanced EVM Applications

        Control and Refinement
        • Applying the **To-Complete Performance Index (TCPI)** to assess the future performance needed to meet the budget.
        • Strategies for applying EVM in agile and hybrid project environments.
        • Understanding different techniques for calculating earned value (e.g., 50/50, fixed formulas, milestones).
        • The process of formal **Baseline Change Control** and ensuring EVM integrity.

          • Unit 5: Reporting and Data-Driven Decision Making

          Communication and Action
          • Designing an effective **EVM Dashboard** for executive and operational audiences.
          • Strategies for communicating negative EVM results (e.g., CPI < 1.0) transparently and constructively.
          • Using EVM data to trigger proactive corrective actions and preventive actions.
          • Techniques for integrating EVM with project scheduling tools for automated tracking.

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