Earned value management

Earned value management is a structured method for objectively measuring project performance, which is key to making informed management decisions. When used correctly, earned value is a true indicator of the value of work achieved. It enables the comparison of planned work with both actual costs and earned value to date.

This section defines earned value management in context, outlining its benefits and identifying some of the common pitfalls. It also considers the practicalities of implementation, such as contractional considerations, training, how progress should be monitored and other relevant areas. A glossary of terms is included.

RICS standards: Value management and value engineering

RICS standards: Appointing a project manager

Template: Project monitor progress report checklist