Earned Value Management

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

The key practises of EVM include:

1. Decompose work scope to a manageable level

2. Assign unambiguous management responsibility

3. Develop a time-phased budget for each work task

4. Select EV measurement techniques for all tasks

5. Maintain integrity of PMB throughout the project

1. Record resource usage during project execution

2. Objectively measure the physical work progress

3. Credit Earned Value according to Earned Value techniques

4. Analyse and forecast cost/schedule performance

5. Report performance problems and/or take action