Managing your project's budget and measuring key project performance metrics is what Earned Value Management (or EVM) is all about. It helps you know whether you can truly say "On Time and Under Budget." The basic idea is to compare your costs to your budget in a way that takes into account your project schedule. This is particularly important when you are not going to be spending money at a constant rate.
Earned Value Management can help project managers identify problems early on as well as forecast the cost of a project based on current progress. If you are familiar with the Earned Value Management System, go ahead and download the template. Otherwise, keep reading below to learn more about the EVM system.
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