Earned Value Management
(EVM)

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

Contents

  1. Summary
  2. Forum
  3. Best Practices
  4. Expert Tips
  5. Resources
  6. Print

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
  EV Methods X%/Y%
I am in a disagreement with a coworker regarding E...
     
 
  EVM Baseline Cost When Moving a Task to Another Calendar Year
If I process a Baseline Change Request (BCR) movin...
     
 
  Survey on Earned Value Analysis Management - Best Practices
Hi All, I am looking for people with the knowledge...
     
 
  EVM Problem: Project Scope Change
One of the problems I have encountered with earned...
     
 
  Earned Value Management is Like a Speedometer
Many projects are completed behind schedule and ov...
     
 
  Project Management Finance
Can anybody tell me what are the financial techniq...
     
 
  Use of control accounts in the WBS
I am struggling with how to apply the use of 'cont...
     
 
  EVM in Fixed Price Software Projects
We have been using Earned value based tracking for...
     
 
  When is an Asset over / under cost?
Am wondering if anyone knows of any EVM ISO Proced...
     
 
  What is Earned Value Management? Definition of EVM
According to PMI, in projects*, EVM is a manage...
     
 
  EVM Implementation in Construction
I am interested to know about EVM implementation i...
     
 

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Best Practices - Earned Value Management Premium

Expert Tips - Earned Value Management Premium
 

Generic Steps in Earned Value Management

1. Identify and organize all project steps: Identi...
Usage (application): Project Management, EVM Implementation
 
 
 

Limitations of Earned Value Management

Following limitations of EVM can be distinguished:...
Usage (application): Project Management, EVM Implementation
 
 
 

Earned Value Management and Prompt Payment Clauses

IF Earned Value Management is combined with "Promp...
Usage (application): EVM Contracting
 
 
 

Recommendations for EVM Implementation

Based on a study, Kim, Wells and Duffey developed ...
Usage (application): Critical Factors for EVM, EVM Best Practices
 
 
 

Earned Value Management System

Private companies use some form of business planni...
Usage (application): Standardization
 
 

Resources - Earned Value Management Premium

Calculating the Basic Elements in EVM

Presentation that gives a short introduction into ...
Usage (application): Earned Value Management
 

DAU Gold Card

This is a one page summary produced by the Defense...
Usage (application): EVM Formulae
 
 

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


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