Earned Value Management
Earned Value Management is a project control process based on a structured approach to planning, cost collection and performance measurement. It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.
The establishment of a Performance Measurement Baseline (PMB) is essential to conducting successful EVM and consists of:
- Defined scope and assumptions
- Activities scheduled in logical sequence
- Resources / costs (labour and materials)
(APM Body of Knowledge 5th Edition)
APMG-International working in partnership with the Association for Project Management Earned Value Specific Interest Group.
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Benefits of Earned Value Management
EVM is the best way to determine the real status of a project. As well as telling you how much you have spent, it shows you how much you have achieved. Further, it tells you how much you still need to do and provides a good indication of final costs and expected completion dates.
- EVM builds on, and therefore enforces good Project Management practice and underpins good corporate governance. Its introduction can drive the cultural and organisational change key to supporting these objectives.
- EVM provides an objective measurement of what has been achieved on a project.
- EVM enables accurate forecasting.
- EVM provides project management information in a format that is easy for all stakeholders to understand and act upon.
- EVM is an Early Warning System that allows the timely identification and analysis of progress and cost issues and corrective actions to be identified.
- EVM shows stakeholders whether they’re getting Value For Money.
- EVM enables detailed project comparisons across programmes.
- EVM can be used on a wide range of project sizes and complexity.
(APM Body of Knowledge 5th Edition)
Earned Value Management Training Courses - To book an Earned Value Management training course and exam, contact any of APMG-International's Accredited Training Organisations.
Qualifications
The exam format is as follows:
Foundation
The Foundation level course provides a comprehensive overview to EVM terminology and methods. It is designed for Project Managers, managers, department heads, and others who need a better understanding of the elements of EVM. The Foundation exam tests the candidate’s knowledge of Earned Value terminology.
- Multiple Choice
- 40 questions per paper
- 26 marks required to pass (out of 40 available) - 65%
- 60 minutes duration
- Closed book (simple calculator).
Recommended Reading
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Purchase Earned Value Management: APM Guidelines at APMG-Business Books for just £15!
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View our APMG-International Earned Value Management Certification Interactive Brochure for further information on the qualification.
In this section
| Earned Value Management | |
| Accredited Training Providers | |
| Public Exams | |
| Successful Candidate Register | |
| Frequently Asked Questions |
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