Earned Value Management (EVM) is a project management methodology that tracks the value of work performed (earned value) and applies it to measuring project performance.
EVM accurately describes current project status like no other project management tool. It integrates cost, scope and schedule into one set of metrics. EVM also allows project managers to predict future performance early in a project.
EVM is considered best-practice by professional bodies such as the Project Management Institute. It is suitable for all classes of project large and small.
EVM Standards include:
- ANSI/EIA-748-A-1998 Earned Value Management Systems
- PMI Practice Standard for Earned Value Management
- AS4817 Project Performance Using Earned Value 2006
... for more see our video: Earned Value Management Basics