What is Earned Value Management?

Earned Value Management is a method used in project management to measure and analyze project performance and progress. By integrating information about project budget, schedule and actual performance, Earned Value Management can provide insight into how efficiently resources are being used and whether the project is on track. Using Earned Value Management, project managers can anticipate potential risks and make informed decisions to optimize the project . By comparing planned costs, schedules and completed work, project managers can create forecasts for the project's completion and budget. Earned Value Management provides an overall picture of the project's status and can be used to identify deviations and problems early. By analyzing key indicators such as cost performance index and time performance index, project managers can make decisions to correct the course and ensure that the project is completed according to plan. Although there are different methods of project management, Earned Value Management is a powerful technique for measuring and controlling the project's achievements. By using this method, project managers can gain a deeper understanding of project progress and effectively manage resources to maximize results.