Speed Up Your Progress With Primavera EVM

Course overview

By aligning and merging project performance data from cost systems, adding intricate budgeting rates, and monitoring committed costs, earned value management is a comprehensive solution that integrates cost information with the program schedule.

Through the addition of earned value capabilities, organizations are better able to assess earned value, analyze budgeted, actual, forecasted, and performed costs, and manage project costs. Complex projects may go awry before an issue is identified if there is no earned value strategy in place.

How can Oracle Primavera be useful? Using Primavera Earned Value Management, organizations can provide predictions that are statistically reliable for comprehending and communicating project performance, allowing enough time to address problems.

The integration of project time, cost, and scope baselines requires a strong approach. The easiest way to characterize it is as an analytical tool that tracks deviation in project schedule, cost performance, and efficiency indicators to determine the overall health of the project.

Participants will gain comprehensive knowledge and understanding about Primavera earned value management and its significance for efficient project management by taking this Training Bee training course.

Additionally, this training will improve your ability to use Primavera earned value management to track and implement timely corrections and modifications.

Participants ability to work on projects in any field will increase as a result of this course, opening up more career and growth prospects for you.

Introduction

A potent method for managing projects, earned value management (EVM) combines scope, cost, and schedule to give a complete picture of the project’s performance. Primavera, a top project management application, works well with EVM to make it an even more powerful tool for organizing, directing, and managing projects. In the context of Primavera, this introduction seeks to give a summary of the main ideas and advantages of earned value management.

Scope, schedule, and cost characteristics are used to measure project performance using Earned Value Management, a project management approach. It helps project managers to make accurate assessments of the project’s state and advancement. EVM offers a quantitative examination of project performance by contrasting the work that is actually completed, the work that is scheduled, and the money incurred.

We are The Training Bee, a global training and education firm providing services in many countries. We are specialized in capacity building and talent development solutions for individuals and organizations, with our highly customized programs and training sessions.

To sum up, Primavera and Earned Value Management together provide a strong project management methodology. It gives project managers the instruments they need to efficiently plan, track developments, and make data-driven choices, which eventually helps complicated projects succeed.

Learning Objectives

Upon completing Earned Value Management (EVM) in Primavera, participants will be able to:

• Thorough familiarity with and comprehension of Primavera earned value management
• The necessary aptitude and experience to use Primavera Earned Value Management for project management success
• The assurance and expertise needed to instruct other experts in Primavera earned value management
• A feeling of fulfillment and pride that promotes professional development and organizational growth via effective project management and client satisfaction through superior results
• The necessary knowledge, insight, and expertise to deal with problems before they impair project performance or result
• The ability to gather pertinent data, track project performance, and share that data with all stakeholders
• The necessary understanding of industry or governmental standards for assessing the performance and health of a project

Our Unique Training Methodology

This interactive course comprises the following training methods:

• Journaling – This consists of setting a timer and letting your thoughts flow, unedited and unscripted recording events, ideas, and thoughts over a while, related to the topic.
• Social learning – Information and expertise exchanged amongst peers via computer-based technologies and interactive conversations including Blogging, instant messaging, and forums for debate in groups.
• Project-based learning
• Mind mapping and brainstorming – A session will be carried out between participants to uncover unique ideas, thoughts, and opinions having a quality discussion.
• Interactive sessions – The course will use informative lectures to introduce key concepts and theories related to the topic.
• Presentations – Participants will be presented with multimedia tools such as videos and graphics to enhance learning. These will be delivered engagingly and interactively.

Training Medium

This Earned Value Management (EVM) in Primavera training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

This training is versatile in its delivery. The training can be delivered as a full-fledged 40-hour training program or a 15- hours crash course covering 5 hours of content each day over 3 days

Pre-course Assessment

Before you enroll in this course all we wanted to know is your exact mindset and your way of thinking.
For that, we have designed this questionnaire attached below.

• Describe the fundamental ideas of Earned Value (EV), Actual Cost (AC), and Planned Value (PV) in EVM.
• Give the schedule performance index (SPI) and cost performance index (CPI) calculation formulas.
• How does EVM calculate the Estimate at Completion (EAC)?
• Why does EVM value the Work Breakdown Structure?
• How does Primavera’s EVM process connect to the WBS?
• Describe the importance of EVM baseline planning.
• In what ways does Primavera support the development and administration of EVM project baselines?
• What is the Primavera Performance Measurement Baseline, and how is it created?
• In the context of EVM, how does the PMB change during a project?

Course Modules

This Earned Value Management (EVM) in Primavera covers the following topics for understanding the essentials of the Agile Workplace:

Module 1 – Earned Value Management Components

• Enter the data
• Indicators of project status
• Parameters for earned value forecasting

Module 2 – Application of Earned Value Evaluation

• Establish the project’s job breakdown structure.
• Make schedules
• Describe your activities.
• Give each task a specific duration.
• Assign linkages with logic.
• Carry out scheduling

Module 3 – Features of Primavera Earned Value Management

• Thorough earned value and cost management
• Combined scheduling and cost data
• Key performance indicator clarity and communication
• Government benchmarks for evaluating performance

Module 4 – How to Use Primavera Earned Value Management in Steps

• Include tasks, connect logic, and establish the physical completion %.
• Include assignments for resources.
• Uphold baseline and designate to project
• Make columns unique for analysis.
• Update the resource’s real units and the physical percentage completed.

Module 5 – Integrating Cost and Schedule Features

• Combining scheduling and cost data from other Oracle applications
• For total control, budget, forecast, actual, and cost analysis were carried out.
• Using the adaptable Primavera earned value management interface to integrate with other products’ scheduling features

Module 6 – Qualities of Government Project Performance Measurement Standards

• Extensive assessment and simulation of project expenses
• Archiving actual values from previous periods and projections for upcoming periods to ensure uniform reporting
• Unlimited fiscal periods that the user defines for scheduling, costs, and resources
• Expenses committed monitoring to get a full picture of expenses
• Intricate modeling of resource rates inside escalation factors

Module 7 – Advantages of Primavera Earned Value Management

• Aligning the project portfolio with organizational goals
• Enhanced project effectiveness via role-based coordination
• Precise measurement of schedule and cost performance
• Evaluation and display of project performance information
• Enhanced program sustainability

Module 8 – Difficulties with Earned Value Management

• Senior leadership and team member assistance
• Identification of project activities
• Evaluation of work completion
• Data collection for project progress
• Availability of actual cost data
• Measuring contract activity

Post-course Assessment

Participants need to complete an assessment post-course completion so our mentors will get to know their understanding of the course. A mentor will also have interrogative conversations with participants and provide valuable feedback.

• What steps could be made to rectify a project’s poor Cost Performance Index (CPI) in Primavera? Give instances.
• Give an example of a project with a significant Schedule Variance (SV) and describe how Primavera might be used to educate project stakeholders of this information.
• In what ways does Primavera assist with managing project baselines during a project’s duration? Talk on how important it is to keep baselines.
• Describe how Primavera’s Earned Value Management and risk management are related. How can EVM procedures incorporate risks?
• Show off how to use Primavera to create and understand an Earned Value report. Which crucial metrics ought to stakeholders pay attention to?
• Talk about how adjustments to the project’s scope or timeline affect Primavera’s EVM measurements.

Lessons Learned

Whole Project Understanding: EVM in Primavera integrates cost, schedule, and scope to give a comprehensive picture of project performance. Participants discover that successful project management requires an understanding of how these components interact.

Early Problem Identification: Participants learn that Primavera’s EVM functions as an early warning system that enables the detection of schedule and cost deviations before they get out of hand. This highlights how crucial proactive management is.

Making Decisions Based on Data: Participants who use EVM in Primavera are better able to make defensible decisions by using metrics and statistics. They discover that depending on objective measurements lessens the influence of subjective assessments while improving project control.

Relevance of Baseline Management: It becomes clear how important it is to set and keep project baselines. Participants are aware that during the course of the project, baselines are essential points of reference for evaluating project performance and drawing comparisons.

Interaction with interested parties: Participants discover that Primavera’s EVM makes it easier to communicate effectively with project stakeholders. EVM measurements enable clear and succinct reporting that communicates project status, progress, and possible hazards.

Constant Observation and Modification: Primavera’s EVM highlights the necessity of ongoing observation and modification. Participants get to understand that project management is a dynamic process that calls for ongoing attention and modification rather than a one-time event.