Basis
Earned value management (EVM) seems complex, but it has a simple foundation. Project plan development generates a schedule and a budget. Project plan execution generates real data, resulting in an actual schedule and an actual budget. EVM is one way to assess the differences between these schedules and budgets. EVM evaluates project progress in terms of project diagnostic metrics (using resource units, either money or effort) related to these schedules and budgets in various combinations. The three principal metrics for EVM are:
(There is no EVM metric combining the baseline schedule with actual expense.) EVM tracks planned and actual ...
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