This course refers to the Project Management Institute (PMI)®, including the Project Management Professional (PMP)® certification and A Guide to the Project Management Body of Knowledge, (PMBOK® Guide). PMI, PMP, and PMBOK are registered marks of the Project Management Institute, Inc.
Earned Value Management is a project management methodology used to measure current project performance and forecast future performance. The idea of Earned Value originated with industrial engineers managing the factory floors in the late 1880's. These engineers employed the three-factor idea of scope, schedule and cost. They not only looked at how much money should be spent over time, but compared that to how much product was being produced. This gave them a true measure of factory performance.
Later, Earned Value Management emerged as a financial analysis tool in the 1960's with the U. S. Department of Defense. It was not until the late 1980's that Earned Value really took hold as a project management methodology. While originating in the U. S. Department of Defense, Earned Value Management has expanded its reach to other U. S. government and non-government groups as well as many organizations around the globe.
In 1987, the PMBOK Guide published by the Project Management Institute referenced Earned Value Management as a project management tool and technique. Each subsequent edition of the PMBOK Guide expanded the Earned Value Management discussion based on the expanded role Earned Value plays in managing projects around the globe. To become a PMP, a Project Management Professional, an individual needs to develop a firm grasp of Earned Value Management concepts.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- What is earned value management?
- Who uses EVM?
- Determining budget at completion, planned value, and earned value
- Calculating schedule and cost variance as well as schedule and cost performance index
- Forecasting future costs
- Computing TCPI for project success
- Exploring limitations of EVM<br><br>
- The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.