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Join us for a webinar on Earned Value Management (EVM); EVM being an important project management technique for measuring project performance and progress. Through this technique, one can combine measurements of scope, schedule and costs. In this webinar, get introduced to EVM, understand its forecasts on project performance problems and its valued contribution on project management.
Earned Value Management, or EVM, is a widely accepted industry best practice for project management that is being used across the Department of Defence (DoD), the Federal government, and the commercial sector. It is the use of an integrated management system that coordinates the work scope, schedule, and cost goals of a program or contract, and objectively measures progress toward these goals. EVM is a tool used by program managers to: (1) quantify and measure program/contract performance, (2) provide an early warning system for deviation from a baseline, (3) mitigate risks associated with cost and schedule overruns, and (4) provide a means to forecast final cost and schedule outcomes.
The implementation and use of EVM is governed by an industry standard—ANSI/EIA-748, Earned Value Management Systems. ANSI/EIA stands for American National Standards Institute/Electronic Industries Alliance. The standard establishes 32 minimum management control guidelines for an Earned Value Management System (EVMS) to ensure the validity of the information used by management. DoD and the Federal government at large have adopted the guidelines in ANSI/EIA-748 for use on government programs and contracts. The DoD EVM policy requires contractor management systems compliant with the current version of ANSI/EIA-748 whenever EVM is required. In DoD, the Defense Contract Management Agency (DCMA) is the executive agency for EVMS and in this capacity has responsibility for determining that contractor systems comply with ANSI/EIA-748.
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