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The EVM Fundamentals

In: Measuring Time

Author

Listed:
  • Mario Vanhoucke

    (Ghent University
    Vlerick Leuven Gent Management School)

Abstract

Earned Value Management (EVM) is a methodology used since the 1960s, when the USA department of defense proposed a standard method to measure a project’s performance. The system relies on a set of often straightforward metrics to measure and evaluate the general health of a project. These metrics serve as early warning signals to timely detect project problems or to exploit project opportunities.The purpose of an EVM system is to provide answers to project managers on questions such as: What is the difference between budgeted and actual costs? What is the current project status? Ahead of schedule or schedule delay? Given the current project performance, what is the expected remaining time and cost of the project?

Suggested Citation

  • Mario Vanhoucke, 2009. "The EVM Fundamentals," International Series in Operations Research & Management Science, in: Measuring Time, edition 1, chapter 0, pages 1-24, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-1014-1_1
    DOI: 10.1007/978-1-4419-1014-1_1
    as

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