TITLE

Controlling Project Costs with Earned Value Management

AUTHOR(S)
Pavyer, Eric
PUB. DATE
March 2002
SOURCE
Management Services;Mar2002, Vol. 46 Issue 3, p24
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Earned Value Management (EVM) is an effective tool for project managers who want to determine the health of a project in terms of labor and expenditure. It achieves comparisons between work scheduled on a project and actual work completed. Earned value represents a quantifiable monetary value for project status enabling managers to provide oversight for performance, resources and time. In using EVM, all forecast work for a particular project is planned, budgeted for and allocated a time schedule. This gives rise to the planned value of a project, which can be displayed as a time and cost measurement baseline.
ACCESSION #
11577032

 

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