Earned Value Management
(EVM)

Knowledge Center

   

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

Contents

Premium

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 Special Interest Group


Special Interest Group (139 members)


Earned Value Management Forum  

Recent topics

  EV Methods X%/Y%
I am in a disagreement with a coworker regarding Earned Value Methods X%/Y%. They contend that by assigning an Earned Value method of (for example) 50...
     
 
  EVM Baseline Cost When Moving a Task to Another Calendar Year
If I process a Baseline Change Request (BCR) moving a task’s period of performance from one calendar year to the next, there is a labor rate upper (es...
     
 
  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 disse...
     
 

Best Practices - Earned Value Management
  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 per...
     
 
  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....
     
 
  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 percentag...
     
 
  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 w...
     
 
  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 cons...
     
 
  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 f...
     
 



All you need to know about management


  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' t...
     
 
  Project Management Finance
Can anybody tell me what are the financial techniques used for project appraisals?...
     
 

Expert Tips - Earned Value Management
 

Generic Steps in Earned Value Management

 
 
 

Limitations of Earned Value Management

 
 
 

Earned Value Management and Prompt Payment Clauses

 
 
 

Recommendations for EVM Implementation

 
 
 

Earned Value Management System

 
 



Advance yourself in business administration and management



Resources - Earned Value Management

Calculating the Basic Elements in EVM

 

DAU Gold Card

 
 

News about Earned Value Management


     
 

News about Evm Value


     
 

Videos about Earned Value Management


     
 

Videos about Evm Value


     
 

Presentations about Earned Value Management


     
 

Presentations about Evm Value


     
 

Books about Earned Value Management


     
 

Books about Evm Value


     
 

More about Earned Value Management


     
 

More about Evm Value


     



Accelerate your management career



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

Special Interest Group Leader

 


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
© 2018 12manage - The Executive Fast Track. V15.0 - Last updated: 15-11-2018. All names ™ of their owners.