Understanding the method
Applying the earned value method to projects: benefits and pitfalls to avoid

Earned value management is a method that integrates content, schedule and resource performance measures to assess project progress. This method is commonly used to measure project performance. It integrates the main qualification elements of content, cost and schedule to provide a baseline for performance evaluation (PMI).

This method uses three values from the project or work package to calculate indicators that enable efficient monitoring of project progress.

The three values used :

• planned value (PV): this is the authorized budget allocated to the planned work;

• earned value (EV): this is the measure of the work performed, expressed in terms of the budget authorized for this work;

• actual cost (AC): these are the actual costs...