AACE EVP study guide
AACE EVP · Work through your exam, one topic at a time.
The Earned Value Professional (EVP) credential is one of the professional certifications offered by AACE International, listed alongside the CCP, CEP, PRMP and PSP under the association's professional certification tier. It is intended for practitioners who plan, measure, analyze, forecast and report project performance using earned value management (EVM) techniques, and for those who manage the associated baselines and change control processes. The AACE EVP study guide has 5 sections and about 1,638 words.
01Earned Value Management Fundamentals
Earned Value Management (EVM) integrates scope, schedule, and cost by converting planned and completed work into a common unit of measure. The three building blocks are Planned Value (PV, the budgeted cost of work scheduled), Earned Value (EV, the budgeted cost of work performed), and Actual Cost (AC, the cost actually incurred for the work performed).
347 words, about 2 min02Planning and Baseline Development
A defensible baseline begins with a Work Breakdown Structure (WBS) that decomposes scope into manageable control accounts. Each control account has a Control Account Manager (CAM) and a budget.
314 words, about 2 min03Earned Value Measurement and Analysis
Earned value must be objective and tied to defined earning rules. Common techniques include the 0/100 method (credit at completion), 50/50 (half at start, half at completion), percent complete, and milestone or weighted-milestone methods.
319 words, about 2 min04Reporting and Forecasting
Forecasting projects final cost from current performance. The most common Estimate at Completion formula is EAC = AC + (BAC − EV) ÷ CPI, assuming remaining work performs at the cumulative CPI.
345 words, about 2 min05Change Management and Integrated Baseline Reviews
Change control governs modifications to scope, schedule, and cost through a formal Change Control Board (CCB) and documented change requests. Approved changes flow into the baseline through baseline change proposals; internal replanning (using management reserve) versus customer-directed changes (using negotiated adjustments) must be distinguished.
313 words, about 2 min