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earned value management is a project management technique for measuring project performance and progress in an objective manner.it helps one to tracks the actual accomplishment of work on a project. By combining and integrating measurements of technical accomplishments, budget performance, and schedule performance, EVM is able to answer the questions:
Is the work getting done?
Is the project ahead of or behind schedule?
Is the project over or under budget?
EVM’s single integrated methodology is able to provide an early warning of performance problems while there is still time for corrective action.
The process of reviewing a project’s application of approved EVMS processes is known as surveillance. The Ndia surveillance guide defines a standard industry surveillance approach for the purpose of focusing on the effective use of an EVMS and ensuring that the key elements of the EVM process are maintained over time and on subsequent applications.
A wealth of further information relating to Earned Value Management techniques and Earned Value Management Systems has been published, and an Internet search for “Earned Value Management” will produce hundreds of thousands of hits, including links to a vast number of professional publications.
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Jul 5th, 2015
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