Earned Value Management (EVM)
The goal of the Earned Value Management System is to provide your organization with valid, timely, and auditable contract-performance information on which to base management decisions. The benefits your organization will achieve from using Earned Value Methodology are:
- It allows for continuous, detailed planning
- It gives an objective measure of cost, schedule and technical scope
- It provides the ability to design, monitor, and modify Risk Mitigation Plans for a project
- It increases the effectiveness of status reporting.
Earned Value provides a tool which help managing the project’s performance.