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Earned Value Management

Earned Value Management is a management technique for measuring project performance and progress. It is a systematic process used to find variances in projects based on the comparison of worked performed and work planned. It has the ability to combine measurements of the project management triangle: scope, time, and costs.

In a single integrated system, earned value management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management.

Planning and control are significantly impacted by EVM; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. The principles of EVM are positive predictors of project success. EVM can be used in and assist in the substantiation of contract disputes. EVM is used on the cost and schedule control and can be very useful in project forecasting.