Earned Value Management is a very important topic for PMP® and PMI-ACP® examination. Since the questions from Earned Value Management are based on Earned Value Management formulas so with practice, these questions can be answered confidently. Considering the importance of this topic, we conducted webinar for the benefit of the students appearing for PMP® and PMI-ACP® examination.
During webinar, we covered Earned Value Management concepts like Planned Value (PV), Earned Value (EV), Actual Cost (AC), Schedule Performance Index (SPI), Schedule Variance (SV), Cost Performance Index (CPI), Cost Variance (C V), To Complete Performance Index (TCPI). During webinar, we did exercises to calculate these parameters. We also went through in great details to understand the range of these parameters on the basis on which we can predict whether the project is ahead or behind the schedule, whether project is over or under the budget. In PMP® and PMI-ACP® exam, sometimes instead of asking direct values of Earned Value Management parameters, question expects the fundamental understanding of the values of these parameters. Based on the values of these parameters, it is determined whether the project is ahead or behind of schedule, project is over or under the budget. During the session, we also discussed about the budget forecasting (Estimate At Completion) based on the current performance of the project. To Complete Performance Index (TCPI) was also discussed to figure out the expected performance of the project to complete the project within budgeted/estimated budget.
Project Selection Methodologies like Net Present Value, Internal Rate of Return, Pay Back Period, Benefit Cost Ratio, and Opportunity Cost were also covered in this session.
Participants were very interactive during the session and many questions were answered by them during the session. Over all, it was a session filled with lots of knowledge to help participants answer Earned Value Management related questions in PMP® and PMI-ACP® exam with confidence.
In case, if you missed the opportunity to attend this session, we will be coming up with many more such webinars in future so stay tuned….
All the Best…
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