Earned Value Management
(EVM)

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


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.


Special Interest Group - Earned Value Management


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Forum - Earned Value Management  

In this forum you will find recent interesting discussions.


  EVM in Fixed Price Software Projects
We have been using Earned value based tracking for our Fixed...
 
 
 
 
  When is an Asset over / under cost?
Am wondering if anyone knows of any EVM ISO Procedure writte...
 
 
 
 
Hot Adjusting the BCWS in Earned Value Methods X%/Y% (1 reactions)
I am in a disagreement with a coworker regarding Earned Valu...
 
 
 
 
  EVM Problem: Project Scope Change (2 reactions)
One of the problems I have encountered with earned value is ...
 
 
 
 
  EVM Baseline Cost When Moving a Task to Another Calendar Year (1 reactions)
If I process a Baseline Change Request (BCR) moving a task’s...
 
 
 
 
  Project Management Finance (2 reactions)
Can anybody tell me what are the financial techniques used f...
 
 
 
 

Best Practices - Earned Value Management

Here you will find the most valuable discussions from the past.


  What is Earned Value Management? Definition of EVM (3 reactions)
According to PMI, in projects*, EVM is a management metho...
 
 
 
 
  EVM Implementation in Construction (4 reactions)
I am interested to know about EVM implementation in a constr...
 
 
 
 
  Earned Value Management is Like a Speedometer (4 reactions)
Many projects are completed behind schedule and over budget ...
 
 
 
 

Expert Tips - Earned Value Management

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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

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Calculating the Basic Elements in EVM

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EVM Formulae...
 
 

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


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