Earned Value Management System (EVMS) Variance Training

Training Course Outline

Duration: 1-day Target Audience: Control Account Managers, Program Managers, EV Analysts

Purpose and Description

Accurate and timely variance reporting is a critical part of any EVMS. Done right, variance reporting protects both the project and all the stakeholders from surprises and miscommunication. While it can sometimes be less than a popular activity, the variance reporting process can be made a lot easier for everyone if it is well understood and well executed. For the government, good, candid communication about project status is really what an EVMS is all about. Variance reports are a major part of that communication. This course will teach attendees best practices in variance reporting that will carry the business and the project forward with strong collaboration among the control account managers, project managers and the customer.

Course Outline
What Determines a Control Account? What are Key Elements of a Control Account? Variances to be Considered Planned Value (PV), Earned Value (EV) and Actual Costs (AC) Examples EVMS Tools to Use Sources of Variances Performance Metrics Estimate at Complete Sources Statistical Estimate at Complete Tools Variance Analysis Thresholds Key Elements of the Variance Analysis Report and Their Checklists o Cause o Effect o Impact o Corrective Actions Examples of Good and Bad Variance Explanations The Variance Correction Action Log To learn more about this class, please contact Ten Six Consulting (703) 910-2600 or email us at training@tensixconsulting.com