What is Earned Value Management? Definition of EVM


 
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What is Earned Value Management? Definition of EVM
dimah barakat, business development consultant, Jordan, Member
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 in Dec. 1967.
EVM is calculated by using formulas to determine variances related to time and cost for progress analysis purposes and forecasting.
Some major EVM acronyms include:
- AC: Actual Cost
- PV: Planned Value
- CV: Cost Variance
- SV: Schedule Variance
- CPI: Cost Performance Index
- SPI: Schedule Performance Index
- ETC: Estimate to Complete
- EAC: Estimate at Completion
- BAC: Budget at Completion
- VAC: Variance at Completion
*regardless of the project industry or field....Sign up
 

 
EVM "Earned Value Management"
Ghassan Ghanem, financial Director, Kuwait, Member
Actually, the EVM sounds effective and powerful but i think it does not differ materialy from other projects management and projects progress evaluati...Sign up
 

 
Formulae and Metrics for EVM
Paul D Giammalvo, Professor and Consultant, Indonesia, Member
Gentlemen, there is much more to EVM than what Dimah put forward. Here you can download the
 

 
EVM versus other Projects Management, Progress Evaluation and Measurement Techniques
Michael Lueders, Analyst, United States, Member
@Ghassan Ghanem: Can you please identify the "already existing project management and evaluation techniques" you are ...Sign up
 

 
 


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