All about Earned Value Professional (EVP) certification: Why you should strive for and achieve this certification?

After Critical Path Method (CPM), Earned Value Management (EVM) is probably the most important and needed project management tool. In Engineering, Construction and Project Management (ECPM) world where the need to deliver project with the budget and timeframe is increasing forever, it will not be an exaggeration to say that EVM knowledge is a must have tool for all the ECPM professional – this is in spite of the fact that if you work for Project controls and Project Management department or not.

Every day, every project faces questions from internal and external stakeholders like: Is project on schedule? How much money we have spent till date? Is project is still within the budget? If it not on budget, how much is budget overrun? Can we recover from current budget overrun? How much we need to spend more to complete the project? If not on schedule, how much we are behind? If project scope is managed effectively?

Here Earned value management (EVM) comes to help us. Earned value management can be defined as:

“Earned value management (EVM), or Earned value project/performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.” Ref Wikipedia.

This is a project management technique that measures the project performance in combination of all the triple constraints of scope, time and cost. Those who are already aware of the EVM concepts and those who are new, EVM is a simple concept. It uses schedule performance index, schedule variance, and cost performance index, cost variance to ascertain project performance. We will not discuss EVM in detail here. However, if you are interested to learn EVM concept you may view our 40 min long lecture here.