What is Earned Value Management?

Earned Value Management is process/tool that is utilised by project managers by which the projects delivery performance is assessed against schedule and budget goals throughout the project lifecycle.

 A key output from the periodic performance assessments would be corrective action / mitigation planning.

Earned Value Management Definition from various sources on the Web:

- Earned value management (EVM) is a project management technique for measuring project progress in an objective manner. EVM has the ability to combine measurements of scope, schedule, and cost in a single integrated system.

en.wikipedia.org/wiki/Earned_value_management

- Technique for assessing whether the earned value in relation to the amount of work completed is ahead, on, or behind plan.

www.brunswickis.co.uk/project-management-glossary.asp

- A method for integrating scope, schedule, and resources, and for measuring project performance. It compares the amount of work that was planned with what was actually earned with what was actually spent to determine if cost and schedule performance are as planned.

www.fieldoperative.com/Tools/Glossary/Glossary%20e.htm

- Earned value management integrates scope, schedule, and cost to give an objective, scalable point-in-time assessment of the project. EVM calculates the performance of the project and compares current performance against planned. EVM can also be a harbinger of things to come.

pmpbank.googlepages.com/glossary

Earned Value Management is a technique that will, when implemented correctly, contribute to the project achieving its objectives.