Earned Value Management (EVM)

Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.

EVM is more than a unique project management process or technique. It is an umbrella term for 32 guidelines that define a set of requirements.

The objectives of an EVMS are to:

• Relate time phased budgets to specific contract tasks and/or statements of work.
• Provide the basis to capture work progress assessments against the baseline plan.
• Relate technical, schedule, and cost performance.
• Provide valid, timely, and auditable data/information for proactive project management analysis and action.
• Supply managers with a practical level of summarization for effective decision making.