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Overview

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/Locations
No upcoming dates/locations at this time
Agenda
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

Accreditation
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Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
CPE: Continuing Professional Education
Field of Study: Specialized Knowledge
Delivery Method: Group-Live Classroom
Federal Publications Seminars is affiliated with West Professional Development and is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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CPE Hours
This program is eligible for: 13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
CLP: Continuous Learning Points
Approved for CLP by Defense Acquisition University
Defense Acquisition Workforce members must acquire 80 Continuous Learning Points (CLP) every two years from the date of entry into the acquisition workforce for as long as the member remains in an acquisition position per DoD Instruction 5000.66. We will provide you with documentation of points awarded for completing the event.
CLP Hours
This program is eligible for: 11.0 (CLP) hours of credit
CLE: Continuing Legal Education
States have widely varying regulations regarding MCLE credit. LegalEdcenter is an approved provider in AL, AK, AR, CA, GA, IL, ME, MO, MS, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, and WV. Credit may be applied for in other jurisdictions on request and in accordance with state MCLE rules.
Please note that because some states are changing their policy on CLE reporting, you will need to fill out the request for credit from Federal Publications Seminars within 10 business days, or we may not be able to issue credits for the program.
CLE Hours
This program is eligible for: 11.0 (60 minutes), 13.0 (50 minutes)
Travel
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