EV

Earned Value is a project management methodology that integrates scope, schedule, and cost parameters to measure project performance and progress objectively. EV calculates the budgeted value of work actually completed, enabling comparison against planned progress and actual costs to identify variances early.

Earned Value analysis uses metrics including BCWP (earned value), BCWS (planned value), and ACWP (actual cost) to calculate schedule variance, cost variance, and performance indices. Government contracts above certain thresholds require Earned Value Management System implementation. EV data provides early warning of performance problems and supports informed decision-making on contract management actions.