Subject Matter Expert knowledge and practical experience of the concepts of Earned Value Management (EVM) and their applicability and use of EVM in project cost, planning, schedule control and management in compliance with the guidelines in ANSI/EIA-748.
Defining the authorized work elements for the program. A work breakdown structure (WBS), tailored for effective internal management control, is commonly used in this process.
Identifying the program organizational structure including the major subcontractors responsible for accomplishing the authorized work, and define the organizational elements in which work will be planned and controlled.
Providing for the integration of the company’s planning, scheduling, budgeting, work authorization and cost accumulation processes with each other, and as appropriate, the program work breakdown structure and the program organizational structure.
Providing for integration of the program work breakdown structure and the program organizational structure in a manner that permits cost and schedule performance measurement by elements of either or both structures as needed.
Scheduling the authorized work in a manner which describes the sequence of work and identifies significant task interdependencies required to meet the requirements of the program.
Identifying physical products, milestones, technical performance goals, or other indicators that will be used to measure progress.
Establishing and maintaining a time-phased budget baseline, at the control account level.
Establishing budgets for authorized work with identification of significant cost elements.
Identifying and controlling level of effort activity by time-phased budgets established for this purpose.
Establishing overhead budgets for each significant organizational component of the company for expenses which will become indirect costs.
Recording direct costs in a manner consistent with the budgets in a formal system controlled by the general books of account.
When a work breakdown structure is used, summarize direct costs from control accounts into the work breakdown structure without allocation of a single control account to two or more work breakdown structure elements.
Identify unit costs, equivalent unit costs, or lot costs when needed