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Earn Value Management - An Overview

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Earned Value Management (EVM) is a project management technique that objectively tracks physical accomplishment of work.

More Elaborately:

  • Earn Value Management (EVM) technique used to track the Progress and Status of a Project & Forecast the likely future performance of the Project.

  • EVM technique integrates the scope, schedule and cost of a project.

  • EVM technique answers a lot of questions to the stakeholders in a project related to the performance of the project.

  • EVM technique can be used to show past performance of the project, current performance of the project and predict the future performance of the project by the use of statistical techniques.

  • Good planning coupled with effective use of the EVM technique will reduce a large amount of issues arising out of schedule and cost overruns.

EVM emerged as a financial analysis specialty in United States Government programs in the 1960s, but it has since become a significant branch of project management.

In the late 1980s and early 1990s, EVM emerged as a project management methodology to be understood and used by managers and executives, not just EVM specialists. Today, EVM has become an essential part of every project tracking.

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