Basic Concepts of Earned Value Management

Basic Concepts of Earned Value Management

Basic Concepts of Earned Value Management

Contents Table:
  • Safety 
  • Earned Value Management? 
  • Why EVM? 
  • Successful EVM requires
  • Background and Context 
  • Organizations Practicing EVM 
  • Approaches to EVM 
  • Examples of Terms, Variances, Indices 
  • Benefits of EVM & Key Take Aways 
  • Questions & Support 
  • PDU opportunities 
  • The deeper dive…. (for those who wish to participate)

What is Earned Value Management?

Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.

What is Earned Value PMP?

Earned Value (EV), or Budgeted Cost of the Work Performed (BCWP) Earned value indicates how much work was actually completed during a given period of time. It is the budget associated with the authorized work that has been completed. It is derived by measuring actual work completed at a point in the schedule.
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How do you calculate Earned Value Management?

Formula for Earned Value (EV) The formula to calculate Earned Value is also simple. Take the actual percentage of the completed work and multiply it by the project budget and you will get the Earned Value. Earned Value = % of completed work X BAC (Budget at Completion).

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