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The Project Management Tool Kit, 3rd Edition by Tom Kendrick

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CONTROL PROCESS

26

Earned-Value Management (EVM)

  What: Using predictive and diagnostic project metrics to evaluate project performance.
  When: Project planning and execution.
  Results: Early detection of resource overconsumption, and reliable forecasts of adverse budget and schedule trends.

Earned-Value Basics

Earned-value management (EVM) appears complex, but it has a simple foundation. Project plan development generates a schedule and a budget documented during project baseline setting. Project plan execution accumulates data through status collection, resulting in actual schedule performance and expenses. EVM provides a useful way to assess the differences between these schedules and budgets. EVM evaluates project progress ...

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