Earned Value Management (EVM) Glossary Definition

Earned Value Management (EVM) is a project-control method that integrates scope, schedule, and cost to compare planned work, completed work, and actual spending.

EVM supports performance analysis, forecasting, and early warning when a project is drifting from plan.

Project managers, sponsors, and project-controls staff use this concept in budget reviews, performance reporting, forecasting, and variance conversations.

Related concepts include Budget, Cost Baseline, Planned Value, Earned Value, Actual Cost and Cost Variance.