Atlanta: The Core Concepts of Earned Value Management

CHAPTER MEETING REMINDER!

Our next chapter meeting is Monday November 9^th. Please note the change from our normal meeting schedule and that this presentation will be hosted by PMI. This presentation will be offered through the PMI Professional Growth session from 5:15-6:15 PM prior to the main PMI meeting on the 9th.

PLEASE NOTE: As this is a presentation jointly offered through MPUG and PMI, you will need to register through BOTH organizations: http://mpugatlanta110909.eventbrite.com and http://www.pmiatlanta.org/events.html. There is a fee for the PMI dinner presentation.

Title: The Core Concepts of Earned Value Management

Location: Atlanta Marriott Perimeter Center, 246 Perimeter Center Parkway NE, Atlanta, GA 30346

Date: 11/09/2009; 5:15-6:15pm

Topic Description:

Earned Value Management (EVM) is based on a few very easily understood concepts:  Planned Value, Earned Value and Actual Cost.  These three key ideas form the basis of earned value measurements.   Planned value is simply the estimated cost to complete all of the work for all the tasks in the project schedule, i.e. the baseline budget.  Earned Value is the true value of the work performed to the status date.  The third measure is the Actual Cost of work performed to the status date.  These simple core concepts form the basis of multiple calculations that provide the project manager with the tools to analyze schedule variances, cost variances and project efficiency performance.  EVM is used to report on current project performance, to forecast future project performance and to estimate the project’s final budget at completion. EVM enables the project manager to become aware early in the life of a new project whether the project is on budget, or behind or ahead of budget.  As well, EVM shows if the project is on schedule or behind or ahead of schedule.  Reliable long-term EVM performance indicators emerge as early as 15-20% into a new project’s lifecycle.  Once reserved for very large and complex projects, such as U.S. Department of Defense weapons systems acquisitions, EVM is beginning to get a second look from general business organizations to monitor project performance and to forecast future performance. This PowerPoint presentation will cover the basic EVM definitions and calculations that all PMP’s should understand.  The goal of the presentation is to present a simple direct discussion of earned value that will allow PM’s to come away with one or two new insights into how to think about and apply earned value.  In early 2010 we will follow up this presentation with another one using earned value in Microsoft Project at one of the monthly meetings of the Atlanta chapter of the Microsoft Project User's Group (MPUG). 

Come out to learn or to refresh your knowledge of earn value and how to use it to sharpen your analysis and reporting of project performance.

Speaker: Jim Anderson, PMP, MSPM, MCITP

Jim Anderson is a project management professional with 25+ years of successful project implementations and service delivery.  Currently, Jim is an independent project management consultant with Chart the Course, specializing in enterprise project management.  Jim has his PMP and a Master of Science degree in project management (MSPM) from George Washington University in Washington, D.C.  Jim has the Microsoft MCITP certification in enterprise project management using Microsoft Project Professional 2007, Project Server 2007, and Project Portfolio Server 2007.  Jim is also a graduate of Georgia Perimeter College, Clarkston, GA (Liberal Arts) and Georgia State University, Atlanta, GA (Journalism).  Jim's main interest is to advance the practice of project management as a profession and to incorporate best practices into his work implementing and deploying enterprise project tools, processes and systems.

Check our web site at http://www.mpug.com/chaptersites/US-Atlanta/default.aspx to view our calendar as it is updated throughout the year. We hope to see you at our meeting on the 9th.

Thank you,

Cliff Barbour

Chapter President, MPUG Atlanta

cliffbarbour@mindspring.com