Earned Value Management (EVM) is a project control process based on a structured approach to planning, cost collection and performance measurement. It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.
The establishment of a Performance Measurement Baseline (PMB) is essential to conducting successful EVM and consists of:
- Defined scope and assumptions
- Activities scheduled in logical sequence
- Resources / costs (labour and materials)
APMG-International is working in partnership with the Association for Project Management Earned Value Specific Interest Group.
- Enhance tracking, monitoring and project and financial management skills.
- Facilitate the integration of project scope, time and cost objectives and the establishment of a baseline plan for performance measurement.
- Demonstrate to stakeholders whether or not they are getting value for money and make suggestions as to how value can be increased.
- Provide an objective measurement of what has been achieved on a project in relation to cost, scope and timescales.
- Enable accurate forecasting for projects and programmes and detailed project comparisons across programmes.
- Apply to a wide range of projects regardless of size and complexity.
- Identify the value of what will be delivered from a project and track progress.
- Build on and enforce superior project management practice and underpin good corporate governance. Introduction of EVM can drive the cultural and organizational change key to supporting these objectives.
- Provide project management information in a format that is easy for all stakeholders to understand and act upon.
- Acts as an early warning system that allows the timely identification and analysis of progress and cost issues and corrective actions to identified.
The Foundation level course provides a comprehensive overview to EVM terminology and methods. It is designed for Project Managers, managers, department heads, and others who need a better understanding of the elements of EVM. The Foundation exam tests the candidate’s knowledge of Earned Value terminology.
- Multiple Choice
- 40 questions per paper
- 26 marks or more required to pass (out of 40 available) – 65%
- 60 minutes duration
- Closed book (simple calculator).
The purpose of the Practitioner certification is to confirm whether you have achieved sufficient understanding of the theory and application of Earned Value Management to allow you to work successfully in an Earned Value Management environment.
As a successful Practitioner candidate you should, with suitable direction be able to start applying the method to a real project, but may not be sufficiently skilled to do this appropriately for all situations.
This certification is aimed at people who have worked (and are working) in an Earned Value Management environment for a period of two years. This will include a wide range of people working on Earned Value based projects including project managers, control account managers, project planners and project analysts.
- Objective testing
- 4 questions per paper, 20 marks available per question
- 40 marks or more required to pass (out of 80 available) – 50%
- Three hours duration
Open book (Earned Value Management Handbook).