Level: Basic
TCM Section(s)
10.1. Project Performance Assessment
9.2. Progress and Performance Measurement
Venue: 2024 AACE International Conference & Expo
Abstract: This paper will discuss: what is earned value management (EVM); how is earned value (EV) calculated; when should EVM be used; and above all, why does project management want to know the EV of their projects? This paper will lead the reader through these and other questions often asked by new project controls professionals as well as other project team leads. A brief history of EVM will be discussed, as well as various (typical) equations for determining the EV and the methods for presenting this EV information to the project management team. There are many articles and books which have been written about earned value management; this paper intends to give a brief summation from a few of those articles and books.
TCM Section(s)
10.1. Project Performance Assessment
9.2. Progress and Performance Measurement
Venue: 2024 AACE International Conference & Expo
Abstract: This paper will discuss: what is earned value management (EVM); how is earned value (EV) calculated; when should EVM be used; and above all, why does project management want to know the EV of their projects? This paper will lead the reader through these and other questions often asked by new project controls professionals as well as other project team leads. A brief history of EVM will be discussed, as well as various (typical) equations for determining the EV and the methods for presenting this EV information to the project management team. There are many articles and books which have been written about earned value management; this paper intends to give a brief summation from a few of those articles and books.