EV (Earned Value)

Earned Value (EV) is a project management measurement that shows the work completed at a specific point in time, expressed in terms of the budget allocated for that work. It helps track progress by comparing the planned work and cost against what has actually been accomplished and spent. Essentially, EV tells us how much of the project’s budget should have been earned based on current progress, enabling stakeholders to assess if the project is on track financially and schedule-wise, and to make informed decisions to keep the project on course.