What is Earned Value Management? Definition of EVM

Earned Value Management
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dimah barakat
business development consultant, Jordan

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 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.

  Ghassan Ghanem
financial Director, Kuwait
 

EVM "Earned Value Management"

Actually, the EVM sounds effective and powerful but i think it does not differ materialy from other projects management ...

  Paul D Giammalvo
Professor and Consultant, Indonesia
 

Formulae and Metrics for EVM

Gentlemen, there is much more to EVM than what Dimah put forward. Here you can download the DAU Gold Card, which not onl...

  Michael Lueders
Analyst, United States
 

EVM versus other Projects Management, Progress Evaluation and Measurement Techniques

@Ghassan Ghanem: Can you please identify the "already existing project management and evaluation techniques" you are ref...

 

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