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EVM 123 Earned Value Management Basics 

Phill Akinwale, OPM3, PMP (Leadership & Agile)
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Our project management courses are credit eligible for contact hours or professional development units (PDUs). Participants studying for the PMP® exam can claim the contact hours earned to satisfy PMI's eligibility requirements for the PMP® exam. Project managers seeking to maintain their PMP certification can claim the PDUs earned to satisfy PMI's Continuing Certification Requirements.
Mission Statement
At Praizion Media, our goal is to significantly enhance core competency in project management and equip participants with the necessary tools and skills to hit--the-ground-running in their project work. We are committed to providing clear understanding of the PMBOK® Guide, project management, project management tools, techniques and concepts to participants worldwide. With a mind-set of quality and excellence, we strive to:
• Uphold the project management methodology advocated by the Project Management Institute (PMI®).
• Present real world project management concepts and examples in an accessible, understandable framework.
• Provide PMP® candidates with a mechanism to gauge understanding and preparedness for the PMP® exam.
• Reinforce project management sensibility through targetted learning instruction.

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11 фев 2014

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Комментарии : 51   
@CecilDSouza
@CecilDSouza 7 лет назад
Thanks Phil. I'm a PMP but I still come back to refresh myself. You are a gifted teacher.
@pmpexam
@pmpexam 7 лет назад
Thanks Cecil. Hope you are enjoying your newfound PMP freedoms :-) Haha!
@preciousosegi9680
@preciousosegi9680 7 лет назад
Thanks a lot Mike. Great job!
@MGBarkell
@MGBarkell 7 лет назад
Excellent lesson I will take with me to the exam room and beyond. Thank you!
@pmpexam
@pmpexam 7 лет назад
Thanks Mike!
@khulekanianderson834
@khulekanianderson834 Год назад
This is an excellent presentation, sir. You demystified the technique of EVM and articulated it for anyone to understand it
@billdowpmo_pmcoach
@billdowpmo_pmcoach 5 лет назад
Excellent Video. Thanks for sharing.
@hrejoice8256
@hrejoice8256 6 лет назад
Thank you for your training and explanation.. Very practical teaching...
@askwaleed1
@askwaleed1 5 лет назад
Simple, straight & efficient....... Thanksssss
@malikfaizanmahmood213
@malikfaizanmahmood213 4 года назад
Thanks sir for sharing. Really helped me for my bachelor's thesis
@dearosman1
@dearosman1 7 лет назад
thank you Mr Philip I had learned this lesson it's clear more reliable. please keep on going this lessons
@pmpexam
@pmpexam 7 лет назад
Thank you Osman!
@ruwanhewavitharana7980
@ruwanhewavitharana7980 6 лет назад
Very good explanation. Thank you very much.
@NguyenMInh-hf3sl
@NguyenMInh-hf3sl 6 лет назад
Excellent accessing method. Thanks for sharing!
@pmpexam
@pmpexam 5 лет назад
Thank you!
@Denise-sq4wy
@Denise-sq4wy 7 лет назад
Hi Phill, I have to implement a simple cost tracking and performance tool for projects. We do have a project plan with activities, but costs are simply tracked against an approved budget and key cost categories. (eg: Plant and equipment = approved budget of US$300K , Hardware = approved budget of US$ 20K etc) Can i still use EVM based on assigned cost categories?
@abdulhamidabozaid3669
@abdulhamidabozaid3669 8 лет назад
so simple and clear .. thank you .
@pmpexam
@pmpexam 8 лет назад
+Abdulhamid Abozaid Thank you!
@Welcome2TheInternet
@Welcome2TheInternet 7 лет назад
good video. thanks
@pmpexam
@pmpexam 7 лет назад
Thank you Sir!
@allaboutpixhawkandrpi3691
@allaboutpixhawkandrpi3691 6 лет назад
Awesome Lesson Bro ! learned alot!
@pmpexam
@pmpexam 5 лет назад
Thank you Moe!
@pmpexam
@pmpexam 7 лет назад
User question: Hi Phill, I have to implement a simple cost tracking and performance tool for projects. We do have a project plan with activities, but costs are simply tracked against an approved budget and key cost categories. (eg: Plant and equipment = approved budget of US$300K , Hardware = approved budget of US$ 20K etc) Can i still use EVM based on assigned cost categories?
@pmpexam
@pmpexam 7 лет назад
Yes Deni. It depends. You can use Earned Value on this project if you have an approved budget (Baseline) broken out into the time periods that the costs are expected to hit. If you do not have the expected costs (approved budget) broken out by time period, you will be unable to efficiently use SPI but you could still use a weak version of CPI depending on your data. Do you have the approved budget broken out by time period for each activity or cluster of activities (work packages)?
@angelaphillips2871
@angelaphillips2871 6 лет назад
Phil, Does the type of contract effect the Earned Value Management process? For example, will a Cost plus fixed fee contract be managed the same as a T&M contract ?
@FD-lo8xr
@FD-lo8xr 9 лет назад
thank you i needed this :)
@pmpexam
@pmpexam 8 лет назад
+fAMOSS DAMOSS Thanks!
@ginjupallyvamshi7718
@ginjupallyvamshi7718 5 лет назад
Splendid video
@pmpexam
@pmpexam Год назад
Thank you!
@ppsayl1235
@ppsayl1235 4 года назад
So earned value doesn't become an EV variable until the work that is planned becomes measurable by means of tangible work/time completion (0%-100%) against that planned work, correct?
@spellru23
@spellru23 7 лет назад
The light bulb went on - thank you
@pmpexam
@pmpexam 7 лет назад
Awesome! Glad to hear that Ruby! Thanks :)
@queenkize
@queenkize 9 лет назад
Per your video, if I worked and spent only $3,500 from the $5,000 planned value, how come I ended up spending more on the actual cost if I only produced less than I planned for?
@pmpexam
@pmpexam 8 лет назад
+queenkize - it was explained at 4:11 Cost overruns due to resource risks and weather delays. On a real project this could be several possible reasons. So in this scenario the PM got less than planned done and the project is late because the originally planned "core team" is unavailable and there are weather challenges.
@santuchatterjee823
@santuchatterjee823 2 года назад
Hi Phil...Can you please make a video on the forecasting technique
@pmpexam
@pmpexam 2 года назад
Hi Santu! Check these videos out: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-HcnDVFrX0Ro.html and ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ttMLHqbub8A.html Does that help? Cheers!
@3sSSSSSam
@3sSSSSSam 8 лет назад
u great
@pmpexam
@pmpexam 8 лет назад
+3sSSSSSam Thank you!
@VanessaKlinger
@VanessaKlinger 8 лет назад
So the project is behind schedule by 90% and we are over budget 86% respectively? Thanks
@pmpexam
@pmpexam 8 лет назад
Vanessa - it is the reverse, the project is 10% behind schedule and 14% over budget. You could say you are only making 86 cents for every dollar spent. You are not getting the full value for your money. You can also say you are only 90% efficient schedule-wise and 86% efficient cost-wise. Also, you are spending 10 days working on the project but only achieving 9 days worth of work.
@aryaardhana6452
@aryaardhana6452 7 лет назад
How come the progress values in March could be lower than the previous months? Does it make sense? Does the progress value should be increased on the next following months?
@pmpexam
@pmpexam 7 лет назад
Good question Arya. This is looking at the months in isolation (stand-alone) as opposed to cummlatively (adding them up as the months go on). For example EV for Jan = 8 , EV for Feb = 6, EV for March = 3 (stand-alone) OR CUMULATIVE TOTAL EV at end of Jan = 8 TOTAL EV at end of Feb = 14 TOTAL EV at end of March = 17 (cumulative). Does that help?
@pmpalihena
@pmpalihena 6 лет назад
Where is the BAC (Budget at Completion)? Don't you need this value for the calculations too?
@courtneyellis1704
@courtneyellis1704 8 лет назад
How did you graph this?
@pmpexam
@pmpexam 8 лет назад
@Courtney by entering the values in Excel. Excel has the graph function.
@fernandoenriquez8573
@fernandoenriquez8573 8 лет назад
how did you graph
@pmpexam
@pmpexam 8 лет назад
@Fernando by entering the values in Excel.
@fernandoenriquez8573
@fernandoenriquez8573 8 лет назад
Thank you sir for your feedback but perhaps the better question is how to construct a set up using "plug & play"; an instrument that is predetermined in excel, or so it seems.
@pmpexam
@pmpexam 7 лет назад
If I understand your question it is by putting in the formulas and letting excel do the calculations and manipulations?
@queenkize
@queenkize 9 лет назад
Hi, I am actually taking the PMP course, is it okay if I could have your email address?
@pmpexam
@pmpexam 8 лет назад
+queenkize All the best in your test. Have you taken it? support@praizion.com
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