A project management methodology that integrates time tracking with budget and schedule data to measure project performance by comparing planned value, earned value, and actual costs, providing early warning indicators of schedule or cost overruns through metrics like Schedule Performance Index (SPI) and Cost Performance Index (CPI).
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Earned Value Management integrates time tracking, cost accounting, and schedule management to provide objective performance measurement, commonly required for government contracts and large projects.
Budgeted cost of work scheduled to be completed by a specific date.
Budgeted cost of work actually completed.
Actual cost incurred for completed work (from time tracking × labor rates).
Schedule Performance Index (SPI):
Cost Performance Index (CPI):
EVM requires:
N/A - This is a project management methodology.