Earned value management

Earned value management is a way of tracking how much money and time it is taking to complete a project. On a project, the money that is spent and the amount of time that is used for certain tasks are both important measures of success. Earned value management helps make sure that the money spent and the time taken match up with what was planned for the project. It works by tracking the costs of each task and measuring the amount of time it takes to complete them. If the money and time used are more than what was planned, then the project might be behind schedule or over budget. Earned value management helps you identify these problems so you can make the necessary changes to keep the project on track.