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What executives and managers must know about the new Earned Value Management System (EVMS) FAR implementation guidance.

A basic analysis of how managers make decisions based on information and reports generated through an Earned Value Management System.

An Earned Value Management System is simply a sound, logical, practical way to manage a project. It is a management planning tool for integrating a project's scope, schedule, and cost elements into a baseline against which performance and accomplishments can be measured. The System generates variance reports from which managers can evaluate progress and status, forecast project impacts, and take any necessary corrective action. Before managers can meaningfully employ earned value tools, they must have an understanding of the strengths and weaknesses inherent in the methodology. Knowing where to exert effort and where additional effort makes little difference in the usefulness of the earned value reporting process is critical. Further a manager's working knowledge of EVMS must be strong enough for the manager to effectively interface with the end customer, understand the customer's requirements and expectations, and manage those requirements and expectations.

Compressed to essence, this is a management course. It emphasizes the need for information in order to make decisions. Managers decry the dearth of good information when making decisions. An EVMS provides information but does not prescribe action or solutions. It provides information from which managers can make better, more informed decisions to ensure that the project is completed, on time, with the best quality and at the lowest cost.

Dates and Locations

This course will be scheduled soon. Please enter your information below to receive a notification when the class is scheduled.

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9:00 AM - 4:00 PM

A Manager's Guide to EVMS Course Curriculum

1.     Introduction and Overview

a.     Earned Value Management Systems Defined

b.     When EVMS is Required

c.     The Purpose of an EVMS

d.     What the New FAR Requirements Mean

2.     Planning: The Components of an EVMS

a.     Effectiveness of Well-Crafted Proposals

b.     Defining & Utilizing an Effective Work Breakdown Structure

c.      Negotiating the Contract and EVMS Components

d.      Understanding the Importance of the Contract Baseline

e.      Integration of Program, Contract, and Financial Management Information

f.      Cost Realism

g.      Technical Content

h.     The Key Players - Creating an Effective EVMS Team

i.      Agency Oversight - How Agencies Will Evaluate and Monitor Performance

3.     Planning: Setting Up the Contract

a.     Utilizing the Cost Accounting System

b.      Understanding the Importance of Detailed Cost Accounting in Line with the Work Breakdown Structure

c.     Effectively Managing Cost Accounts from Start to Finish

d.     Managing Contract Changes - What Drives the Bottom Line for Both the Agency and the Contractor

4.     Organizing

a.     Agency EVM Policies, Initiatives and Requirements

b.     ANSI and EIA Standards, International Standards, Other Standards

c.     Agency Authorities

d.     Flexibility in Procedures Within Standards and Guidelines

5.     Directing

a.     Managing Resources - Creating the Effective Team

b.      Project Management Best Practices

c.     Training and Communicating - What Managers Must Know About the Requirements

d.      Compliance - Managing to the Requirements

e.      Managing by Exception - Knowing the Allowable Exceptions

f.      Quality and Productivity - Ensuring Effective Deliverables

6.     Coordinating

a.     Work Scope - Maintaining Scope in an Environment of Constant Change

b.     Schedules - Managing Schedule and Variance Issues

c.      Costs - Getting the Appropriate Data That You Need

d.     Technical Performance

e.     Goals Integration - Delivering What is Promised

7.     Reporting

a.     Establishing and Negotiating Reporting Requirements - Know the Requirements You Can Manage

b.     Understanding the Basics of EVMS Reporting

c.     Understanding the Limitations of EVMS Reporting

d.     Managing with EVMS - What is Required and What Your Customer Expects

e.     Integration of EVMS with Other Management Reporting - the Often Discussed but Rarely Implemented Practice

8.     Managing with EVMS

a.     Understanding the EVMS Data - What the Reports Mean

b.     Utilizing Appropriate Performance Indexes

c.      Understanding Schedule and Cost Indexes

d.     Analyzing Variances and Taking Corrective Action - Timely Reaction and Mitigation

9.     Compliance With the New Rules

10.   Conclusion: Guidance for Managers

The Course Faculty

Terry Carlson is a Managing Director at Capital Edge Consulting. Mr. Carlson advises clients on the application and interpretation of rules, regulations, guidelines, and cost accounting standards applicable to government contractors. He also provides advice on the development and deployment of strategic and tactical systems to assist contractors in successfully performing the functions of program management, risk management, and contract administration at program and corporate levels.
For 20 years, Terry was President of his own firm, T.A. Carlson & Company, providing consulting services to the contracting community. Prior to establishing his own firm, he was a Professor of Financial Management at the Defense Systems Management College. Mr. Carlson served as an assistant professor of accounting at Villanova University, where he taught courses in accounting and management information systems.
Terry has also served as a Staff Finance Consultant for a major defense contractor, where he assisted in proposal preparation, developing divisional budgets, and responding to Defense Contract Audit Agency queries. He also served as an auditor with the Defense Contract Audit Agency where he was responsible for evaluating contractor submissions to ensure that they were prepared in accordance with applicable regulations and standards.
Chad T. Braley is the CEO and Managing Director of Capital Edge Consulting, Inc. in Reston, VA. His areas of expertise include cost accounting and indirect rates, proposal development, contracts management and administration, DCAA audit and non-compliance expertise, ERP implementation support, training, Federal Acquisition Regulations (FAR) and Cost Accounting Standards (CAS) compliance support. 
Mr. Braley's experience also includes providing full contract lifecycle support, from acquisition phase identification and proposal development, to contract closeout assistance. While in industry, Chad managed a wide array of contract types, including cost plus fixed fee (CPFF), cost plus award fee (CPAF), firm fixed price (FFP), and time and material (T&M), both at a prime and subcontract level. In addition to managing these contracts, he was responsible for developing proposals, negotiating contracts, and overseeing the invoicing of all contracts. 
Mr. Braley teaches numerous training courses for Federal Publication Seminars, including A Practical Guide to the Incurred Cost Submission and A Manager's Guide to EVMS. Mr. Braley has lectured at NCMA's World Congress and performs compliance webinars for multiple software companies.
Mr. Braley graduated from the Williams School of Commerce at Washington and Lee University with a Bachelor of Science in Commerce, with a Business Administration major
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A Manager's Guide to EVMS
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