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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.[1]

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.[2]

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.


References

  1. Defining Earned Value Management (EVM) Wikipedia
  2. Basic Concepts of Earned Value Management (EVM)Humphreys and Associates