Earned Value Management is a methodology or technique used to track progress and performance of a project at a given point in time, and forecast its likely future performance.
What are the main features of Earned Value Management?
Earned Value Management is a way to measure progress and performance of a project at given point in time. It combines scope, schedule and resource measurements to prove as an objective and wholesome measure. It uses statistical techniques to predict future performance of a project based on its past and current performance.
Where is Earned Value Management Performed?
Earned Value Management is performed as part (as a tool and technique) of 'Control Costs' process. Therefore, from project management knowledge area perspective, it belongs to Project Cost Management, and from project management process groups perspective, it belongs to Monitoring and Controlling process group.
Earned Value Management - Short Video Series by Sir Ganttalot™
Sir Ganttalot™ briefly explains Earned Value Management as a three parts series of short videos (total duration of 28 minutes).
Part 1 - Basic Concepts
Part 3 - Forecasting (EAC, ETC, VAC, TCPI)
