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Project Management for Engineering Design by Charles Lessard

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CHAPTER 7

Earned Value Analysis

Earned value analysis (EVA) is an industry standard method of measuring a project’s progress at any given point of time, forecasting its completion date and final cost, and analyzing variances in the schedule and budget as the project proceeds. It compares the planned amount of work with what has actually been completed, to determine if the cost, schedule, and work accomplished are progressing in accordance with the plan. As work is completed, it is considered “earned.” The Office of Management and Budget prescribed in Circular A-11, Part 7, that EVA is required on construction projects:

Agencies must use a performance-based acquisition management system, based on ANSI/EIA Standard 748, to measure achievement ...

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