- a methodology that measures project progress by comparing actual schedule and cost performance against planned performance as laid out in the schedule and cost baseline.
Variables in EVM:
- EMV involves calculating three independent variables to assess and monitor project cost and schedule performance progress. Those variables are:
- Planned Value (PV)
- Earned Value (EV)
- Actual Cost (AC)
- These 3 variables are used to provide measures of whether or not work is being accomplished as planned and to forecast project cost at completion.