Controlling Budgets with Earned Value Management
Managing Project Budgets (Webinar 3)
The classic method for monitoring project budget conformance is to subtract the cost-to-date from the budget. But, this only tells the Project Manager if there is money left to spend…not how much it will cost to complete an activity or the project. So, the Project Manager can only guess if the project is actually on budget or not. Earned Value Management solves this problem.
Join us for this 1 hour in depth presentation to learn why Earned Value Management is the only way to really know if a project is on budget or not, and how it can predict the total cost at the end of the project…while there is still time to take action.
In this webinar participants learn about:
- Why it is important to measure the amount of work/product produced at various points in the project
- The relationship between planned cost (S Curve) and planned production for budget control
- How to compute the value of work/product completed to date and a Cost Performance Index to measure efficiency
- How to compute and use Cost Variance and Schedule Variance values
EARN 1 PDU after viewing this webinar.
This webinar aligns to the PMI Talent Triangle – Technical.
Solutions Cube Group’s webinars are presented by experienced staff members and partners who have over 30 years of experience managing projects and developing and running facilitated project meetings and delivering project management training courses.
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