Earned Value Management (EVM)

Earned Value Management (EVM) is a project management technique that helps track a project's progress and performance. It combines measurements of project scope, schedule, and cost. By comparing planned work to what has been completed (earned value) and actual spending, EVM provides insights into whether a project is on track, ahead, or behind schedule, and whether it is within budget. This allows managers to make informed decisions and adjustments to keep the project aligned with its goals and objectives. In essence, EVM is a tool for ensuring efficient and effective project management.