Earned Value Management
(EVM)

Knowledge Center

Measuring the effectiveness of Program Management. Explanation of Earned Value Management. EVM.

Contents

  1. Summary
  2. Forum
  3. Expert Tips
  4. Resources

  Print





Why register?
Log in

What is Earned Value Management? Definition

Earned Value Management is an integrated program measurement and management technique that integrates

  • technical performance requirements,
  • resource planning with schedules,
  • while taking risk into consideration.

In other words, EVM is a management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased ''planned value'' increments, constituting a cost and schedule measurement baseline.


Objectives of EVM

There are two major objectives of an Earned Value Management system:

  1. to encourage contractors to use effective internal cost and schedule management control systems; and
  2. to permit the customer to be able to rely on timely data produced by those systems for determining product-oriented contract status.

The major objectives of applying EVM to a contract are:

  • To encourage contractors to use effective internal technical, cost and schedule management control systems, and
  • To permit the customer to rely on timely data produced by those systems for better management insight.
  • This data is in turn used for determining product-oriented contract status, and
  • Projecting future performance based on trends to date.
  • In addition, Earned Value Management allows better and more effective management decision making to minimize adverse impacts to the project.

Benefits of Earned Value Management

Earned Value Management provides an objective measurement of how much work has been accomplished on a project. Using the EVM process, the management team can readily compare how much work has actually been completed against the amount of work planned to be accomplished. All work is planned, budgeted, and scheduled in time-phased "planned value" increments, constituting a performance measurement baseline.




Earned Value Management Forum (9 topics) Help
  Survey on Earned Value Analysis Management - Best Practices
Hi All, I am looking for people with the knowledge about earned value analysis & management to complete a 5 minutes survey for the purpose of my dissertation research. No personal details are required and the results are – of course – stricly confide...
     
  EVM Problem: Project Scope Change
One of the problems I have encountered with earned value is project scope change or more specifically creep.
It is difficult to account for the completion of work when the parameters are not aligned with contractual obligations. <...
     
  Earned Value Management is Like a Speedometer
Many projects are completed behind schedule and over budget because there are no proper monitoring and controlling steps taken.
If we consider a project as a "journey", the methodology as the "road", the resource as a "car", the project m...
     
  Project Management Finance
Can anybody tell me what are the financial techniques used for project appraisals?...
     
  Use of control accounts in the WBS
I am struggling with how to apply the use of 'control accounts' (cost accounts) in my WBS. I understand the concept but lack good examples of 'how' to do it - what do I call the CAs, how do I know in the WBS where they are needed, what do I roll up ...
     
  EVM in Fixed Price Software Projects
We have been using Earned value based tracking for our Fixed Price Software Projects. It is very good method to plan future actions based on percentage completion - complex procedure, but need to be customized based on data collected - In software it...
     
  When is an Asset over / under cost?
Am wondering if anyone knows of any EVM ISO Procedure written with regard to what steps you take to know when an asset is over or under cost (and at what percentage?)...
     
  What is Earned Value Management? Definition of EVM
According to PMI, in projects*, EVM is a management methodology for integrating scope, schedule and resources for objectively measuring project performance & progress against the baseline.
The criteria were first released by the U.S. DoD ...
     
  EVM Implementation in Construction
I am interested to know about EVM implementation in a construction company. Projects like a group of buildings, towers or town houses, etc....
     



Earned Value Management Special Interest Group


Special Interest Group

Earned Value Management Education & Events


Find Trainings, Seminars and Events


Expert Tips - Earned Value Management Premium
  Generic Steps in Earned Value Management - Project Management, EVM Implementation
 
  Limitations of Earned Value Management - Project Management, EVM Implementation
 
  Earned Value Management and Prompt Payment Clauses - EVM Contracting
 
  Recommendations for EVM Implementation - Critical Factors for EVM, EVM Best Practices
 
  Earned Value Management System - Standardization
 

Resources - Earned Value Management Premium
Calculating the Basic Elements in EVM - Earned Value Management
DAU Gold Card - EVM Formulae
 

News - Earned Value Management

     
 

News - Evm Value

     
 

Videos - Earned Value Management

     
 

Videos - Evm Value

     
 

Presentations - Earned Value Management

     
 

Presentations - Evm Value

     
 

More - Earned Value Management

     
 

More - Evm Value

     

Compare EVM with: Cost-benefit Analysis  |  DCF  |  Net Present Value  |  Value Engineering  |  Gantt Chart


Return to Management Hub: Program & Project Management


More Management Methods, Models and Theory

Sponsor
Sponsor this knowledge center

Special Interest Group Leader
Expert? Would you like to be our Earned Value Management SIG Leader?

All you need to know about management

12manage for:



Management Smart Card

12manage in:





Copyright 2014 12manage - The Executive Fast Track. V12.0 - Last updated: 19-12-2014. All names tm by their owners.