Project Management in Engineering and Technology
Earned Value Management (EVM) is a project management tool to monitor the performance of the project such that should applied correctly, it provides an “early warning signal” to the project manager, to senior management, and to the customer and underlines the possible need for corrective action. It incorporates three critical elements of project management: scope, time and cost. It allows the calculation of cost and schedule variances and performance indices, and forecasts the project cost and schedule at completion. The central focus of EVM is the accurate measurement of the physical work performed against a baseline plan.
Kamali, Bulent and Nkansah, Felix, "Earned Value Management and its Complementary Counterpart: Earned Schedule" (2007). Engineering and Technology Management Student Projects. 927.