Earned Value Management: What Is It? Who Needs

Total Page:16

File Type:pdf, Size:1020Kb

Earned Value Management: What Is It? Who Needs Franklin Training Group EARNED VALUE MANAGEMENT: WHAT IS IT? WHO NEEDS IT? Capturing Opportunities for Performance Excellence Earned Value Management 1 Chet Franklin ASQ 711 July 2008 What is EVM? Franklin Training Group • EVM; Earned Value Management • For the management of projects • It is called: – A concept – A discipline – An approach – A program • A set of tools Capturing Opportunities for Performance Excellence Earned Value Management 2 Chet Franklin ASQ 711 July 2008 Who needs it? Franklin Training Group • No one NEEDS it • Who can use it? – Program Managers – Project Managers – Project Teams – Budget Analysts – Planners Capturing Opportunities for Performance Excellence Earned Value Management 3 Chet Franklin ASQ 711 July 2008 Project Managers Need Franklin Training Group • Plan – What is to be done? – When is it to be done? – What will it cost? • Tracking – What has been done? – When was it done? – What did it cost? Capturing Opportunities for Performance Excellence Earned Value Management 4 Chet Franklin ASQ 711 July 2008 What will EVM do? Franklin Training Group • Provide Project Status – Financial performance – Schedule performance • Provide information – Identify risks – Predict future performance • Financial – Cost-to-Complete • Schedule – Variance from plan Capturing Opportunities for Performance Excellence Earned Value Management 5 Chet Franklin ASQ 711 July 2008 Is EVM New? Franklin Training Group • NO! • The basic concepts? – They’ve been around for a 100 years, or so – PVA (Planned Value of Work Accomplished) – BCWP (Budgeted Cost of Work Performed) – C/SCSC (Cost/Schedule Control System Criteria) – C/SPCS (Cost/Schedule Planning Control Spec) – PERT (Program Evaluation & Review Technique) – etc., etc. Capturing Opportunities for Performance Excellence Earned Value Management 6 Chet Franklin ASQ 711 July 2008 More History Franklin Training Group • 1962: “Earned Value”, introduced to modern industry • 1967: The DOD adopted (C/SCSC) – Cost/Schedule Control Systems Criteria • Incorporated the earned value concept • 1968: C/SPCS – (Cost/Schedule Planning Control Spec) • 1998: ANSI/EIA Guide to Earned Value Management Capturing Opportunities for Performance Excellence Earned Value Management 7 Chet Franklin ASQ 711 July 2008 Project Management Road Franklin Training Group • The Project Management Road? – Strewn with boulders and pot holes • Many of the above have been tried • Many have failed – Why? – Changing management philosophies • Management ideas du jour – Lack of knowledge (Training) – Focus on money only (Bottom Line) – Focus on schedule only Capturing Opportunities for Performance Excellence Earned Value Management 8 Chet Franklin ASQ 711 July 2008 What is Earned Value? Franklin Training Group • A set of project measurement tools – What you got for the money you spent – Money you’ve spent so far vs. what you planned to spend – Where you are on the schedule vs. where you planned to be – What your final project cost is likely to be vs. what you planned Capturing Opportunities for Performance Excellence Earned Value Management 9 Chet Franklin ASQ 711 July 2008 EVM Metrics Franklin Training Group • ACWP: Actual Cost of Work Performed – Actual Cost (AC) • BCWP: Budgeted Cost of Work Performed • Earned Value (EV) = BCWS X % Comp • BCWS: Budgeted Cost of Work Scheduled – Planned Value (PV) • BAC: Budget At Completion – Actually Planned (PV) for the whole project Capturing Opportunities for Performance Excellence Earned Value Management 10 Chet Franklin ASQ 711 July 2008 EVM Metrics Franklin Training Group • EAC: Estimate At Completion • CPI: Cost Performance Index • SPI: Schedule Performance Index • CSI: Cost Schedule Index – Overall Efficiency Rating Capturing Opportunities for Performance Excellence Earned Value Management 11 Chet Franklin ASQ 711 July 2008 BAC: Budget At Completion Franklin Training Group • Planned total cost of the project • Begins with a Work Breakdown Structure (WBS) – A detail listing of tasks – Progress milestones – Resources to accomplish the task • Labor (burdened rate) • Purchases (Committed or paid) • Services (e.g. Outside contracting) Capturing Opportunities for Performance Excellence Earned Value Management 12 Chet Franklin ASQ 711 July 2008 BCWS: Budgeted Cost of Franklin Training Group Work Scheduled • Planned cost at any point in time on the schedule. AKA Planned Value – BCWS = PV (Planned Value) – Labor + Purchases + Services – Calculated at: • Scheduled, or non-scheduled project reviews • Completion of one or more tasks • Mid-Task • Completion of a milestone Capturing Opportunities for Performance Excellence Earned Value Management 13 Chet Franklin ASQ 711 July 2008 Budgeted Cost of BCWP: Franklin Training Group Work Performed • What was planned to be spent to accomplish the work performed • AKA: Earned Value • For example: 1. Tasks 1, 2 and 3 are reported as 100% complete • What was the planned cost for them? • Labor – Purchases - Services 2. Task 4 is reported as 50% complete • What was planned for 50% completion? Capturing Opportunities for Performance Excellence Earned Value Management 14 Chet Franklin ASQ 711 July 2008 Actual Cost of ACWP: Franklin Training Group Work Performed • AKA; Actual Cost (AC) • Total amount spent (committed?) on the project at the time of the report – Labor (Hours charged to the project) • Direct labor • Management allocation – Purchases • Materials and supplies • Services Capturing Opportunities for Performance Excellence Earned Value Management 15 Chet Franklin ASQ 711 July 2008 CPI: Cost Performance Franklin Training Group Index • Am I getting what I’m paying for? • CPI = BCWP / ACWP – A statement of performance efficiency Capturing Opportunities for Performance Excellence Earned Value Management 16 Chet Franklin ASQ 711 July 2008 SPI: Schedule Franklin Training Group Performance Index • Am I performing according to schedule? • SPI = BCWP / BCWS • PROJECTS THAT ARE BEHIND SCHEDULE WILL USUALLY OVER-RUN THE BUDGET Capturing Opportunities for Performance Excellence Earned Value Management 17 Chet Franklin ASQ 711 July 2008 Estimate At EAC: Franklin Training Group Completion EAC Calculations 1. Statistical Methods – BAC / CPI (Best Case) – BAC / SPI * CPI (Worst Case) – AC + BAC – EV – AC + ETC (Estimate to Complete) – AC / % Complete • Assumes constant Burn Rate 2. Other Methods • Project Manager’s Estimate • Re-Plan Capturing Opportunities for Performance Excellence Earned Value Management 18 Chet Franklin ASQ 711 July 2008 CSI: Cost Schedule Index Franklin Training Group • The Overall Efficiency Rating of the project • Recovery difficulty increases as the CSI goes below 1.0 CSI = CPI x SPI Capturing Opportunities for Performance Excellence Earned Value Management 19 Chet Franklin ASQ 711 July 2008 Summary of EVM Terms Franklin Training Group • ACWP Actual Cost of Work Performed • BAC Budget At Completion • BCWP Budgeted Cost of Work Performed – “Earned Value (EV)” • BCWS Budgeted Cost of Work Scheduled – “Planned Value (PV)” • CPI Cost Performance Index • CSI Cost Schedule Index – Overall Efficiency Rating • EAC Estimate At Completion • SPI Schedule Performance Index Capturing Opportunities for Performance Excellence Earned Value Management 20 Chet Franklin ASQ 711 July 2008 Information Sources Franklin Training Group • ANSI/EIA-748-1998; Earned Value Management Systems • “Earned Value Project Management”; – Fleming, Quentin W., Joel M. Koppelman; Project Management Institute • “How to Capture Opportunities for Performance Excellence (COPE) with Earned Value Management”; – Franklin, Chester; Franklin Training Group • Various Websites Capturing Opportunities for Performance Excellence Earned Value Management 21 Chet Franklin ASQ 711 July 2008.
Recommended publications
  • Historical Evolution of Management Accounting
    1990's: Value Based Management Focus shifted to include the creation of customer value, strategy, balanced scorecards, EVA, and other related concepts. 1980's: Lcan Enterprise CA M-I Cost Management Focus shifted to the reduction of waste, JTT, teamwork, ABC, target costing, quality, investment & product life cycle management. 1951 - 1980's: Managerial Accounting Focus shifted to providinginformation for management planning & control. 1920 - 1950: Cost Accounting Matching concept developed. Focus on cost determination and financial control. 1812 - 1920: Accountingfor Processes Prior to the matching concept. Focus on operating cost and efficiency of processes. Shah Kamal Historical Evolution of Assistant Relationship Manager Management Accounting Bank Alfalah [email protected] Abstract The obsolescence of most companies' cost accounting and management control systems is particularly unfortunate for the global competition of the 1980s (Johnson & Kaplan, 1987). During the past two decades, conventional cost and management accounting practices have been under extensive criticism for their malfunction to instigate change and their inability to support management accounting innovations in coping with the requirements of a changing environment. The academic literature has been crucial of conventional management accounting systems particularly for their lack of efficiency and capability to present comprehensive and the latest information and to assure decision makers and potential users of such information. Focusing on this debate, current study reviews the evolution of cost and management accounting innovations over the past century around the world and to examine whether there has been a significant impact of management accounting in the organization. The analyses suggest that management accounting is changing. However, these changes do not have much bearing upon the type of management accounting techniques.
    [Show full text]
  • Trade Management Guidelines
    Trade Management Guidelines TRADE MANAGEMENT TASK FORCE Theodore R. Aronson, CFA, Chairman Aronson + Partners Gregory H. Bokach, CFA Damian Maroun American Century Investment Management G.E. Asset Management Corporation Eugene K. Bolton Jean Margo Reid G.E. Asset Management Corporation Paul Richards* Michael H. Buek, CFA Financial Services Authority The Vanguard Group H. Paul Reynolds Richard A. Carriuolo Frank Russell Securities, Inc. R.M. Davis, Inc. George U. Sauter Gene A. Gohlke, Ph.D., CPA* The Vanguard Group U.S. Securities and Exchange Commission Erik R. Sirri Paul S. Gottlieb Babson College Merrill Lynch Wayne H. Wagner Joanne M. Hill Plexus Group Goldman, Sachs & Co. Jessica L. Mann, CFA Donald B. Keim CFA Institute The Wharton School Maria J. A. Clark, CFA Anthony J. Leitner CFA Institute Goldman, Sachs & Co. Ananth Madhavan ITG, Inc. * Observer. 1 CFA INSTITUTE TRADE MANAGEMENT GUIDELINES Recognizing the ambiguities and complexities surrounding the concept of Best Execution,1 CFA Institute Trade Management Task Force has developed the CFA Institute Trade Management Guidelines (Guidelines) for investment management firms (Firms). The recommendations contained herein stem from the obligations Firms have to clients regarding the execution of their trades and provide Firms with a demonstrable framework from which to make consistently good trade-execution decisions over time. The Guidelines formalize processes, disclosures, and record-keeping suggestions that, together, form a systematic, repeatable, and demonstrable approach to seeking Best Execution. It is important to note that the Guidelines are a compilation of recommended practices and not standards. CFA Institute encourages Firms worldwide to adopt as many of the recommendations as are appropriate to their particular circumstances.
    [Show full text]
  • Customer Relationship Management, Customer Satisfaction and Its Impact on Customer Loyalty
    Customer Relationship Management, Customer Satisfaction and Its Impact on Customer Loyalty Sulaiman, Said Musnadi Faculty of Economic and Business, University of Syiah Kuala, Banda Aceh, Indonesia Keywords: Customer Relationship Management, Satisfaction, Customer Loyalty. Abstract: This study aims to determine the effect of Customer Relationship Management (CRM) on Customer Satisfaction and its impact on Customer Loyalty of Islamic Bank in Aceh’s Province. The study population is all customers in in the Islamic Bank. This study uses convinience random sampling with a sample size of 250 respondents. The analytical method used is structural equation modeling (SEM). The results showed that the Customer Relationship Management significantly influences both on satisfaction and its customer loyalty. Furthermore, satisfaction also affects its customer loyalty. Customer satisfaction plays a role as partially mediator between the influences of Customer Relationship Management on its Customer Loyalty. The implications of this research, the management of Islamic Bank needs to improve its Customer Relationship Management program that can increase its customer loyalty. 1 INTRODUCTION small number of studies on customer loyalty in the bank, as a result of understanding about the loyalty 1.1 Background and satisfaction of Islamic bank’s customers is still confusing, and there is a very limited clarification The phenomenon underlying this study is the low about Customer Relationship Management (CRM) as a good influence on customer satisfaction and its
    [Show full text]
  • Vaccine Management Plan
    Vaccine Management Plan KEEP YOUR MANAGEMENT PLAN NEAR THE VACCINE STORAGE UNITS Practices must maintain a vaccine management plan for routine and emergency situations to protect vaccines and minimize loss due to negligence. The Vaccine Coordinator and Backup are responsible for implementing the plan. Instructions: Complete this form and make sure key practice staff sign and acknowledge the signature log whenever your plan is revised. Ensure that all content (including emergency contact information and alternate vaccine storage location) is up to date. Keep the plan in a location easily accessible to staff and available for review by VFC Field Representatives during site visits. (For practices using mobile units to administer VFC vaccines: Complete the VFC “Mobile Unit Vaccine Management Plan” to itemize equipment and record practice protocols specific to mobile units.) Section 1: Important Contacts KEY PRACTICE STAFF & ROLES Office/Practice Name VFC PIN Number Address Role Name Title Phone # Alt Phone # E-mail Provider of Record Provider of Record Designee Vaccine Coordinator Backup Vaccine Coordinator Immunization Champion (optional) Receives vaccines Stores vaccines Handles shipping issues Monitors storage unit temperatures USEFUL EMERGENCY NUMBERS Service Name Phone # Alt Phone # E-mail VFC Field Representative VFC Call Center 1-877-243-8832 Utility Company Building Maintenance Building Alarm Company Refrigerator/Freezer Alarm Company Refrigerator/Freezer Repair Point of Contact for Vaccine Transport www.eziz.org 1 IMM-1122 (12/20)
    [Show full text]
  • Earned Value Management (EVM) System Description
    NASA/SP-2019-3704 Earned Value Management (EVM) System Description National Aeronautics and Space Administration November 1, 2019 Electronic copies are available from: NASA STI Program: https://wwww.sti.nasa.gov NASA STI Information Desk: [email protected]/ (757) 864-9658 Write to: NASA STI Information Desk Mail Stop 148 NASA Langley Research Center Hampton, VA 23681-2199 NASA Engineering Network (NEN) at https://nen.nasa.gov/web/pm/ (inside the NASA firewall only). OCFO-SID EVM Homepage at https://community.max.gov/dis- play/NASA/Earned+Value+Management+HOMEPAGE (inside the NASA firewall only) RECORD OF REVISIONS R E DESCRIPTION DATE V Basic Issue November 2013 1 Incorporate IPMR, ANSI/EIA-748 reference change March 2016 2 Added EVM reciprocity, scalability and new EVM $250M threshold January 2018 Added SMD Class-D EVMS Deviation, revised Intra-Agency Work Agree- ment EVM requirements, updated links, updated NASA EVMS requirements 3 September 2019 thresholds chart, deleted special publication numbers from references, cor- rected Data Requirements Description acronym, minor edits, etc. NASA EVM System Description ii ii TABLE OF CONTENTS P.1 Purpose ............................................................................................................ vi P.2 Applicability ..................................................................................................... vii P.3 Authority .......................................................................................................... vii P.4 References .....................................................................................................
    [Show full text]
  • Earned Value Management Best Practices
    WHITE PAPER Earned Value Management Best Practices CONTENTS BACKGROUND BEST PRACTICES FOR EVMS USE Earned Value Management (EVM), a mainstay of When it comes to using an EVMS, most Best Practices for EVMS Use ..............................1 major government project management, has organizations follow a learning curve. The now caught the imagination of government IT purpose of this paper is to help organizations Use an EVMS Description professionals as well as those in the private flatten the curve, arming them with EVMS best and Keep it Up to sector. This has happened because EVM offers, practices. These best practices are broken down Date ...................................1 for the first time, an “apples to apples” into five guideline areas: Use EVMS on Every methodology for understanding how projects Project ..............................2 are progressing in relation to the original • EVMS description When to Use EVMS on funding and scope. It is a systematic approach a Program .................3 to planning, measuring, and forecasting a • EVMS use Building a Work project and a tool in the project manager’s Breakdown Structure toolbox for successfully completing an assigned • Work Breakdown Structure (WBS) and (WBS) ..............................3 project. Control Account WBS and Control Account Earned Value Management Systems (EVMS) are • Cost and schedule integration Guidelines ................3 required by the Office of Management and Budget for federal agencies and by contract on • Earned Value calculation Defining a Control Account ....................4 major systems acquistions done by the U.S. Government and some foreign governments. USE AN EVMS DESCRIPTION AND KEEP IT Cost and Schedule They are also part of the Project Management UP TO DATE Integration Institute’s Project Management Body of The system description provides an Guidelines ........................4 Knowledge (PMI PMBOK) and are used by many understanding of each activity required to meet Earned Value Calculation civilian organizations.
    [Show full text]
  • Bs /Organizational Management
    ORGANIZATIONAL MANAGEMENT- B.S. /ORGANIZATIONAL MANAGEMENT- B.P.S. Primary Faculty, New York State: Dr. Claire Henry (Assessment Faculty), Julie Hood-Baldomir (Dept. Chair), Dr. Douglas LePelley, Dr. Elena Murphy (Assessment Faculty) Mission The Bachelor of Science in Organizational Management is an upper division degree program. Through a cohort-based model of learning, the program prepares students to create positive change both organizationally and individually, through developing their ability to assess organizations and utilize innovative and strategic solutions to help organizations achieve extraordinary results. Student Learning Goals The OM Student Learning Goals are categorized within the framework of the Nyack College core values. Through an academically rigorous interdisciplinary curriculum, adult students in the Organizational Management program will be able to: Academically Excellent: o Demonstrate the ability skills in the use of technology, communication, and research as it relates to scholarship. o Develop analytical thinking skills as tools for problem solving in the workplace. Globally Engaged: o Demonstrate fluency in using ethical theories as a framework for positioning organizations as responsible, global citizens Intentionally Diverse: o Demonstrate the ability to utilize diverse perspectives as a, means to solving problems and initiating change within an organizational context Personally Transforming: o Develop process in which to assess and promote personal growth, development and life-long learning Socially Relevant:
    [Show full text]
  • Control Account Manger (CAM)/ Earned Value Management System (EVMS) Training 1
    Control Account Manger (CAM)/ Earned Value Management System (EVMS) Training 1 Introduction to EVM Organization, Planning, Scheduling, Budgeting, and Accounting Considerations Steve Langish Overview Covering The Basics – Introduction to EVMS Web Page/Contents – What Is Earned Value Management (EVM) – Why Use EVM – The EVM Process & How It AliApplies To You Heavy Detail On The Front – Organization – Planning, Scheduling, & Budgeting – Accounting Considerations Light Detail On The End (For This Session) – Analysis & Management Reports – Revisions Summary & What ‘s Up Next Time At The End For Questions & Throughout 2 PPPL’s EVMS Web Page http://www‐local. pppl. gov/EVMS/ 3 What Is EVM? Definition – Earned Value Management (EVM) Is A Project Management Technique For Measuring Project Progress In An Objective Manner – A Systematic Approach To The Integration & Measurement Of Cost, Schedule, & Technical (Scope) Accomplishments On A Project Application – Work Is Planned, Budgeted, & Scheduled In Time‐Phased Increments To Achieve This – Takes Into Consideration Risk, Uncertainties, & Assumptions – Involves Project Managers, Control Account Managers, Contractors, Customers, etc Objective – Encourage The Use Of Effective Internal Cost & Schedule Management Controls – Allow Timely Data For Determining Product‐Oriented Status 4 Why Use EVM? Who Wants To Babysit Every Line In A Schedule Of This Size? – Management By Exception ‐ Provides Early Warning Of Performance Problems – Trip Wires Via Thresholds – Using All Views Instead Of Driving
    [Show full text]
  • What Is Strategic Portfolio Management?
    What is Strategic Portfolio Management? What is a Strategic Portfolio? Who is it aimed at? Successful organisations make strategic choices about Strategic Portfolio Management is the responsibility of which activities should be implemented to deliver their the senior management team, which needs to ensure vision. These choices form the strategic portfolio. that strategy and operations are aligned and integrated. Decisions at this level can significantly impact the success of the organisation. It is equally applicable to the private and public sectors, and can be used across the whole organisation or a part. Everything an organisation does is potentially part of the portfolio, including business-as-usual activities and The Catalyze approach provides visibility and control to transformation initiatives, such as improving customer senior managers, who typically have too little data in services, driving growth or entering a new market. some areas and too much in others. We provide a systematic process, which delivers the focused Strategic Portfolio Management information required to make key strategic trade-offs. Strategic Portfolio Management is about deciding where best to focus the organisation’s finite resources in order to meet strategic objectives, considering the business as a portfolio of activities and making trade- offs across the portfolio. Vitally this includes making those difficult choices of what not to do, unlocking resources to focus on fewer, better activities – those most closely aligned with strategic success. Once the portfolio is focused, attention needs to turn to execution. Monitoring performance with metrics consistent with the strategic objectives ensures that operations and strategy stay aligned. Where does it fit? Programme and Project Management is about ‘doing things right’; Portfolio Management is about ‘doing the right things’.
    [Show full text]
  • Union-Management Cooperation: Can a Company Move from an Adversarial Relationship to a Cooperative Relationship and Is Interest
    University of Rhode Island DigitalCommons@URI Seminar Research Paper Series Schmidt Labor Research Center 2005 Union-Management Cooperation: Can a Company Move from an Adversarial Relationship to a Cooperative Relationship and is Interest-Based Bargaining a Necessary Condition to do so? Jane Ostrowsky University of Rhode Island Follow this and additional works at: http://digitalcommons.uri.edu/lrc_paper_series Recommended Citation Ostrowsky, Jane, "Union-Management Cooperation: Can a Company Move from an Adversarial Relationship to a Cooperative Relationship and is Interest-Based Bargaining a Necessary Condition to do so?" (2005). Seminar Research Paper Series. Paper 12. http://digitalcommons.uri.edu/lrc_paper_series/12http://digitalcommons.uri.edu/lrc_paper_series/12 This Seminar Paper is brought to you for free and open access by the Schmidt Labor Research Center at DigitalCommons@URI. It has been accepted for inclusion in Seminar Research Paper Series by an authorized administrator of DigitalCommons@URI. For more information, please contact [email protected]. UNION-MANAGEMENT COOPERATION: CAN A COMPANY MOVE FROM AN ADVERSARIAL RELATIONSHIP TO A COOPERATIVE RELATIONSHIP AND IS INTEREST-BASED BARGAINING A NECESSARY CONDITION TO DO SO? JANE OSTROWSKY University of Rhode Island Strikes “More often than not, unions are viewed as the villainous Indians and management is viewed as the white-hatted cowboys in a simplistic cowboy and Indians movie” Stuart R. Korshak Union-Management cooperation is not just a more committed to their organization, and more passing fad nor is it new or recent. However, productive because their ideas have made a interest in this particular way of doing business difference while the employer enjoys the rewards has been growing.
    [Show full text]
  • Critical Analysis on Earned Value Management (EVM) Technique in Building Construction
    Critical Analysis on Earned Value Management (EVM) Technique in Building Construction CRITICAL ANALYSIS ON EARNED VALUE MANAGEMENT (EVM) TECHNIQUE IN BUILDING CONSTRUCTION Luis Felipe Cândido1, Luiz Fernando Mählmann Heineck2 José de Paula Barros Neto3 ABSTRACT Earned Value Management (EVM) is a technique of performance measurement focused on project physical, financial and time progress, indicating planned and actual performance, variations of them and forecasts on final project duration and cost. It takes a step further traditional measurement tools like PERT/Cost and C/SCSC. EVM is strongly supported by Project Management Community gather around the Project Management Institute, but recently the technique is being criticized in respect to its conceptual problems and implementation difficulties. This paper aims to explore in greater depth this debate through a case study on a construction project that applied EVM as a planning and control tool. Four major problems are analyzed in the search for an enlarged list of topics the EVM approach fails to support lean construction applications. Among them are the disregard for the mobilization of resources phase and the lack of consideration of construction indirect costs. Finally, the authors concluded that EVM is just an extension of the traditional approach of measuring physical and financial advances over time. This narrow approach is insufficient to provide a comprehensive managerial tool, as became clear through the analyses of the building project under consideration. KEYWORDS EVM (Earned Value Management), Control of Building Projects, Lean Construction and Project Management. INTRODUCTION Uncertainty and complexity typical of constructions projects led building companies to adopt more sophisticated techniques and tools to effectively plan and control building developments.
    [Show full text]
  • BUSINESS MANAGEMENT for Incoming Freshmen 2020–2021
    Pathway Brief BUSINESS MANAGEMENT For incoming freshmen 2020–2021 OVERVIEW The Business Management and Administration Jump Start 2.0 Pathway focuses on careers that plan, organize, direct, and evaluate all or part of a business organization. Students will learn fiscal responsibility when allocating and using financial, human, and material resources. Pathway coursework equips students to give support needed to make all aspects of a business run, whether training new employees or leading as a top executive. This pathway also encompasses social media use as a marketing strategy to promote and keep businesses relevant. COLLEGE AND CAREER CONNECTIONS Finding high-wage career opportunities directly out of high school can be challenging. It typically requires advanced capstone credentials accompanied by work experience and/or apprenticeships in the field. High School to Career Community/Technical College to Career University to Career Executive Secretaries and Executive Administrative Assistant Management Professional Administrative Assistants Customer Service Representative Human Resource Assistant Human Resources Director Payroll Clerk Business and Office Management Business and Office Operations Management Digital Layout Designer Communications Specialist Social Media/Market Research Strategist CAPSTONE CREDENTIALS In order to graduate, Jump Start students must earn at least one credential from the options below. Regional (Emerging) Basic Advanced Career and Technical Certificate (LCTCS)* Certificate of Technical Studies (LCTCS)* Technical
    [Show full text]