How is Earned Value Management (EVM) leveraged?
PROJECTRx® utilizes the four core elements of Earned Value Management (EVM) in order to calculate EVM variances, performance, and forecasts. Budget at Completion, Planned Value (i.e. Budgeted Cost of Work Scheduled), Earned Value (i.e. Budgeted Cost of Work Performed), and Actual Costs (i.e. Actual Costs of Work Performed) are used to validate results from the project team relative to scope, cost, and schedule. EVM information is available with each milestone in order to provide trending of the results. The PROJECTRx® tools utilize EVM Wizards in order to standardize how EVM information is presented and eliminate some of the mystery and confusion with interpreting EVM results.
