EARNED VALUE PERFORMANCE MEASUREMENT
Earned Value Management is a project management methodology that measures the progress made in a manner that facilitates effective analysis and monitoring of project performance. It is fast becoming the preferred methodology for institutions around the world who demand the highest level of performance from themselves and their contractors.
Earned Value (EV) facilitates timely and effective decision making, as it empowers project stakeholders with information in the following areas:
- The extent to which the plan has been achieved;
- If the work achieved has cost more or less than was planned;
- Whether or not the work achieved is ahead of, or behind, schedule; and
The probability of project recovery with reference to the planned total cost and planned completion dates.
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