Earned Value Formula

Earned Value (EV) is a project management measurement that shows how much work has been completed in monetary terms. It compares the planned progress with the actual progress by calculating the value of work performed according to the original schedule and budget. Essentially, EV tells you whether you're on track financially and schedule-wise, based on the work you've actually done so far. It's derived by multiplying the percentage of work completed by the total budget for that work. This helps project managers assess performance, identify delays or overspending, and make informed decisions to keep the project on course.