EARNED VALUE MANAGEMENT SYSTEM (EVMS)
Whether you are just getting familiar with the term Earned Value Management System (EVMS) or seasoned at running projects with the help of an EVMS, our consultants understand the challenges and know what it takes to keep you moving in the right direction. Kinetek has provided solutions to companies managing government contracts and assisted US Government personnel in achieving their objectives. Our solutions incorporate proven best practices developed by industry leading subject matter experts that are tuned to your specific needs.
Simply put, an Earned Value Management System (EVMS) is an integrated set of policies, procedures, and practices to support program and project management in making effective decisions and a critical component of risk management. EVMS measures actual performance of work against the associated costs incurred and baselined schedule. This information is used to understand how you are performing so far and forecast how you will perform in the future in terms of cost and schedule.
The Kinetek team can help you understand what it takes to establish and run your EVMS so that both you and your customer see the benefits:
- Set up and configure your EVMS tools to support your organization or program needs.
- Effectively integrate project work scope, cost, and schedule into a single performance measurement baseline (PMB).
- Support your scheduling, program planning, and program control functions. We can train your staff in these positions or assume them as part of your team.
- Reliably track planned value (PV) or budgeted cost for work scheduled (BCWS), earned value (EV) or budgeted cost for work performed (BCWP), and actual costs (AC) or actual cost of work performed (ACWP).
- Identify, track, document, and approve changes to the performance measurement baseline (PMB).
- Provide trend analysis, variance analysis reporting, and evaluation of estimated cost at completion (EAC).
- Help your team complete variance analysis reports (VARs) by providing a sound basis for problem identification, resolution, and corrective action tracking.
- Develop your corporate EVMS process documentation including EVMS policies, EVM System Description, Standard Operating Procedures (SOPs), and work instructions.
Kinetek can deliver the right level of support, whether you need us to help you get started with your proposal, support your EVMS implementation, or support your day-to-day program needs. Our staff is highly experienced at supporting your program management needs including preparing for Integrated Baseline Reviews, Risk Management, and EVMS Validation.
To find out more about the types of services we offer and how we can help your organization reach the next level, contact us today.