Earned Value Management

The key practises of EVM include:

EVM strategically augments good project management to facilitate the planning and control of cost and schedule performance

A. Establish a Performance Measurement Baseline (PMB)

  • Decompose work scope to a manageable level
  • Assign unambiguous management responsibility
  • Develop a time-phased budget for each work task
  • Select EV measurement techniques for all tasks
  • Maintain integrity of PMB throughout the project

B. Measure and Analyze performance against the baseline

  • Record resource usage during project execution
  • Objectively measure the physical work progress
  • Credit Earned Value according to Earned Value techniques
  • Analyse and forecast cost/schedule performance
  • Report performance problems and/or take action