Earned Value Management
This unique 2-day Earned Value Management training course will cover the principles, methodologies and industry best practices in Earned Value Management.
- Level
- Intermediate
- Type
- Course
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About Training
This unique 2-day Earned Value Management training course will cover the principles, methodologies and industry best practices in Earned Value Management. Using the knowledge to analyze project performance and to provide accurate cost and schedule forecasting, you will be able to contribute to your project’s increased performance and success. Delegates will be guided through step by step exercises on real oil and gas project case studies.
Training Objectives
- Develop a sound understanding of the principles, methodologies and industry best practices in Earned Value Management.
- Know how to apply Earned Value to analyse project performance and forecast cost & schedule at project completion.
- Learn to develop and work with work breakdown structures, work packages, project baselines and project forecasts.
- Understand the business context and the purpose of Cost Engineering in Oil & Gas projects.
- Learn how to control, forecast, monitor and report the cost and progress during project execution.
- Work on real Oil & Gas project case studies to practice all aspects of this master class.
Audiences
- Cost Engineers
- Cost Estimators
- Cost Controllers
- Project Managers
- Project Engineers
- Project Planners
- Finance Managers & Executives
Instructor
Richard Slingerland
Richard Slingerland is owner of Pareto Cost Consultancy BV, which specializes in cost estimating, estimate & schedule assurance reviews, benchmarking and value engineering. He has over 18 years of industrial experience in consulting oil & gas, exploration & production projects, energy, offshore, terminals and project organizations. For almost 10 years, Richard had worked in various Shell locations, which includes The Hague, The Netherlands, Malaysia, Middle East and Central America.
Daily Aims
Day One
Definitions, Objectives, Methodologies and Analysis
Course Introduction
- Course objectives
- Course program
- Case studies
Definitions and Principles
- Cost Engineering definitions
- Estimates, budgets and value
- Budget and Contingency allocation
- Project baseline
- Work Breakdown Structure
- Cost Breakdown Structure
- Work packages
- Allocation of budget to WBS and work packages
- Basic Earned Value terminology
Case Study: Budget allocation
Project Control
- Project Control objectives
- Project Control variables
- Project Control methodologies
- Project Control cycle
- Project Control plan and procedures
- Project Control best practices
- Schedule Control
- Integrated Cost & Schedule Control
Case Study: Project baseline and control sheet
Earned Value Analysis
- Earned Value Analysis overview
- Evaluate Earned Value techniques
- Define and assess Earned Value
- Cost Variance (CV) and Schedule Variance (SV)
- Cost and Schedule Performance Indicators (CPI and SPI)
- Forecasting on Cost and Schedule
- Different forecasting methodologies and formulas
- Accuracy of Cost and Schedule forecasts
- Generate and Validate Estimate at Completion
- Cost and Schedule performance curves
- Trend analysis
- Productivity analysis
- Earned Schedule analysis
Case Study: Earned Value Analys
Day Two
Monitoring, Reporting & Advanced EVM
Monitoring
- Elements of monitoring
- Productivity
- Progress measurement
- Progress milestones
- Monitoring plan
- Cost and Schedule performance
- Identify the steps used in updating the project status
- Understand how predictive performance data is used
- Controlling/managing engineering cost & schedule
- Controlling/managing equipment cost & schedule
- Controlling/managing bulk materials cost & schedule
- Controlling/managing construction cost & schedule
- Baseline Schedule date vs Forecast date
Case Study: Earned Value Monitoring
Reporting
- Reporting requirements
- Reporting calendar
- Reporting templates
- Report on Program Performance Using EVMS
- Best Practices
- Project dashboards
Case Study: Project Controls Report and Dashboard
Advanced Earned Value Management
- Management of Change
- Problems and pitfalls
- Pro’s and con’s of Earned Value Management
- Alternatives to Earned Value Management
- Earned Value vs Value of Work Done
- Managing change and re-baseline
- How to manage Project Control
- Implementing Earned Value Management
- Earned Value Management tools
- Identify appropriate Work Authorization Levels
- Use CPI and SPI in project management
- EVM and related management responsibilities
- Total Cost Management
- Project close-out & lessons learned
Case Study: Advanced Earned Value Management
Training Schedule
| Code | Start Date | End Date | Locations | Cost | Instructor |
|---|---|---|---|---|---|
| PST0230-201501 | Kuala Lumpur, Malaysia | SGD 2,995 | Richard Slingerland | ||
| PST0230-201401 | Kuala Lumpur, Malaysia | SGD 2,995 | Richard Slingerland | ||
| PST0230 | Miri, Malaysia | SGD 2,995 | Richard Slingerland |
Why Choose This Training
Credibility
Align with API/ASME standards. Trusted by major operators.
Expert Instructors
Led by industry veterans with real field experience.
Real Case Studies
Practical application of concepts through real world scenarios.
Practical Skills
Hands on calculations and decision making for FFS outcomes.
Trusted by Operators
Delivered to Aramco, ADNOC, SABIC, and other major operators.
Global Training Standard
Recognized across major industries by PetroSync's proven approach.
Professional Training Aligned with Industry Standards
Practical, industry ready training designed for real work environments
Free Consultation Limited seats available
