Earned Value and Risk Tracking Training Course

Earned Value and Risk Tracking Training Course

Introduction

In today's complex and fast-paced business environment, project success is defined not just by technical execution, but by precise Performance Measurement and Proactive Risk Mitigation. Traditional project tracking methods often fail to provide a true, integrated view of project health, leading to unexpected cost overruns, schedule delays, and missed strategic opportunities. Earned Value and Risk Tracking Training Course bridges that gap by providing a foundational and hands-on mastery of Earned Value Management (EVM) and the integration of Quantitative Risk Analysis. Participants will learn to move beyond simple budget and schedule reporting to establish robust Performance Baselines, conduct accurate Variance Analysis, and generate reliable Forecasts by explicitly modeling project uncertainties.

The ability to link budget spending with physical progress (Earned Value) and compare it to the original plan (Planned Value) is the core of effective Project Controls. This program emphasizes the critical synergy between EVM and Risk Tracking, showing how a Risk Register and Contingency Reserve are dynamically managed and integrated into the project's financial and schedule outlook. Through immersive Case Studies and Hands-on Application with industry-standard tools, attendees will gain the skills to objectively measure project performance, interpret key metrics, perform Root Cause Analysis for variances, and make Data-Driven Decisions that safeguard project delivery and maximize Return on Investment (ROI). Equip yourself to champion Predictive Modeling and deliver greater certainty to your stakeholders.

Course Duration

5 days

Course Objectives

Upon completion of this course, participants will be able to:

1. Establish an integrated Performance Measurement Baseline (PMB) that aligns scope, schedule, and budget.
2. Calculate and interpret the core EVM metrics
3. Perform in-depth Variance Analysis and Root Cause Analysis (RCA) for significant project deviations.
4. Forecast final project cost and schedule outcomes using advanced techniques like EAC, ETC, and Estimate at Completion (EAC) models.
5. Develop comprehensive, action-oriented Risk Registers and structured Risk Breakdown Structures (RBS).
6. Apply methods for Qualitative Risk Analysis and Quantitative Risk Analysis
7. Determine and manage the Management Reserve and Contingency Reserve based on identified risks.
8. Integrate the Risk Response Plan directly into the project schedule and cost baseline for tracking.
9. Utilize common Project Controls Software for practical EVM reporting.
10. Implement an effective Change Control Process that maintains the integrity of the performance baseline.
11. Report project performance objectively to stakeholders using a clear, Data Visualization approach.
12. Apply EVM and Risk principles to modern practices, including Agile EVM and Hybrid Methodologies.
13. Drive continuous Process Improvement by using EVM data for organizational Benchmarking and lessons learned.

Target Audience

1. Project Managers (PMs) & Program Managers.
2. Project Control Officers (PCOs) / Specialists.
3. Cost Engineers & Cost Controllers.
4. Portfolio Managers & Project Sponsors.
5. Control Account Managers.
6. PMP, CAPM, or RMP Certification Candidates.
7. Business Analysts.
8. Engineering & Construction Professionals

Course Modules

Module 1: Foundational Earned Value Principles

• The Triple Constraint and the need for integration.
• Defining the Performance Measurement Baseline and the importance of the WBS.
• Mastering the three fundamental metrics
• Methods for accurately quantifying Earned Value
• Case Study: Developing a detailed WBS and initial PMB for a mid-sized IT infrastructure upgrade project.

Module 2: Core EVM Performance Analysis

• Calculating and interpreting Variance Analysis
• Understanding the Efficiency Indices
• Applying control thresholds and identifying when corrective action is required.
• Performing Trend Analysis and plotting S-Curves for visual project health assessment.
• Case Study: Analyzing monthly project data to calculate all variances and indices, identifying a negative trend in SPI.

Module 3: Advanced EVM Forecasting and Management

• Forecasting the Estimate At Completion using various predictive formulas
• Calculating the Estimate To Complete and the Variance At Completion.
• Determining the To Complete Performance Index
• Managing and maintaining the Baseline Change Control process.
• Case Study: Using different EAC formulas on a construction project with a major cost overrun to advise the sponsor on the most probable final budget.

Module 4: Introduction to Project Risk Management

• Defining Project Risk and the Risk Management Lifecycle.
• Creating a robust Risk Breakdown Structure for structured identification.
• Conducting Risk Identification using techniques like Delphi, Checklists, and Assumption Analysis.
• Developing and maintaining the definitive Risk Register
• Case Study: Facilitating a risk identification session for a new product development project and populating the initial Risk Register.

Module 5: Qualitative and Quantitative Risk Analysis

• Applying Qualitative Risk Analysis
• Techniques for risk data quality assessment and categorization.
• Introduction to Quantitative Risk Analysis
• Understanding the output of Monte Carlo Simulation
• Case Study: Scoring and prioritizing risks in the register, and interpreting a Monte Carlo output graph to determine the required cost contingency for a P80 confidence level.

Module 6: Risk Response Planning and Implementation

• Developing specific strategies for negative risks
• Developing specific strategies for positive risks
• Assigning Risk Owners and defining trigger conditions.
• Integrating explicit Risk Responses into the project schedule and budget.
• Case Study: Creating a detailed response plan for the top three prioritized risks from Module 5 and assigning accountability.

Module 7: Integrated EVM and Risk Tracking

• Mechanism for tracking Risk Response Implementation and effectiveness via the Risk Audit.
• Monitoring the utilization of the Contingency Reserve and tracking Residual Risk.
• Using EVM Variance Analysis as an early warning indicator for potential risk triggers.
• The process for formal Re-baselining when a significant risk event occurs.
• Case Study: Simulating a project where a high-impact risk occurs, requiring the use of the contingency reserve and subsequent re-forecasting.

Module 8: Tools, Reporting, and Organizational Maturity

• Hands-on application using Project Management Software
• Designing an effective Performance Report and Executive Dashboard that integrates EVM and Risk status.
• Techniques for communicating project status and forecasts to diverse Stakeholder groups.
• Applying EVM and Risk concepts in a multi-project Portfolio Management environment.
• Case Study: Preparing a full monthly status report, including S-Curves, CPI/SPI trends, and a Risk Heat Map, ready for a sponsor meeting.

Training Methodology

This course employs a participatory and hands-on approach to ensure practical learning, including:

• Interactive lectures and presentations.
• Group discussions and brainstorming sessions.
• Hands-on exercises using real-world datasets.
• Role-playing and scenario-based simulations.
• Analysis of case studies to bridge theory and practice.
• Peer-to-peer learning and networking.
• Expert-led Q&A sessions.
• Continuous feedback and personalized guidance.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.