EVMS (Earned Value Management System)

Earned Value Management System (EVMS) is a project management tool that tracks a project's progress by comparing planned work, actual work completed, and the costs associated with that work. It helps managers assess whether a project is on schedule and within budget by providing key metrics like Planned Value, Earned Value, and Actual Cost. This systematic approach offers real-time insight into performance and allows for better decision-making to ensure project success.