Earned Value Management (EVM): a technique to drive project success
Project Managers often claim to know their project status and are sometimes quick to reassure project sponsors they will finish on time and on budget. So how come so many projects finish late and overspend their original budget? Why does it take so much effort to complete the last 10% of a project? Why are there so many surprises in the 2nd half of project execution?
In today’s business environment project teams need to deliver on promises. Fierce business competition in most industries demand realistic forecasts and focus on results.
Still, even the best Project Managers can get caught and face challenges like;
• Lack of proper scope definition
• Optimistic project baseline
• Biased evaluation of project progress
• Unrealistic estimate to complete
• Executive denial & wishful thinking
Earned Value Management (EVM) brings rigor and focus during project execution. Its application benefits project sponsors and project managers by clearly highlighting work packages which are lagging from the plan, both from a cost or schedule point of view. Variance analysis enables management by exception and focus on corrective and preventive actions. It can drive the projects team to face the sometimes ugly truth earlier, allowing time to recover or readjust. EVM is not free, it does add planning and tracking cost to your project, but has proven to be beneficial on many medium to large size projects.
This webinar is also offered in French.
Time: 12:00 pm - 1:00 pm
This is a 60-minute interactive presentation.
PMI® Professional Development Units (PDUs): 1
• Gain a clear understanding of what is EVM
• Appreciate the benefits of applying EVM.
• Appreciate the potential complexity of deploying EVM in your organization.
This presentation will cover the following sections:
Introduction of the speaker and the topic
What is Earned Value Management
An overview of the main elements of EVM, including its rearward and forward looking aspects
What is in it for you?
An inside look of the benefits of EV, from top to bottom. Who likes it, who hates it?
How difficult is it to deploy an EVM system?
A summary of the key elements required to successfully deploy EV.
An overview of some of the key points to remember before jumping on the EV train.
Through his career M. Faucher successively worked as a Construction Project Engineer, Manufacturing Engineer, Quality Manager and Maintenance Manager. In 1996 he became responsible for the Construction & Procurement team of IBM Canada’s Real Estate group. Joining Pratt & Whitney Canada (P&WC) in 1998, he organised the construction of facilities in 3 countries in support of the company globalisation effort. In 1999 he led one of the 4 Manufacturing Business Units of Pratt & Whitney Canada. M. Faucher then joined the P&WC Product Engineering organisation in 2001 where he participated in the development of new Gas Turbine Engine products. He also lead, for a few years, the R&D Projects Planning & Monitoring team as well as the Engineering Logistics & Productivity team. Since 2010 M. Faucher leads the Engineering team providing support to P&WC Global Operations.
M. Faucher holds a Bachelor Degree in Engineering from Laval University, a Master in Business Administration from Sherbrooke University and is a certified Project Management Professional.
Mr. Faucher teaches Advanced Project Management course at McGill School of Continuing Studies. Through his career he trained or coached hundreds of Project Managers in the industry.
Price per webinar:
Regular Rate: $69.00 plus applicable taxes
PMI® rate: $49.00 plus applicable taxes
Partners (Réseau des Ingénieurs du Québec) Rate: $35.00 plus applicable taxes
McGill Alumni Rate: $35.00 plus applicable taxes
McGill Student Rate: $10.00 plus applicable taxes
E-mail: pd [dot] conted [at] mcgill [dot] ca