Practice Standard for Earned Value Management, 2nd Edition

CHAPTER 2

EARNED VALUE PROJECT MANAGEMENT OVERVIEW

2.1 Introduction

The Practice Standard for Earned Value Management was developed as a supplement to A Guide to the Project Management Body of Knowledge (PMBOK^® Guide). The purpose of this practice standard is to:

• Provide a standard for project management practitioners and other stakeholders that defines the essential aspects of applying earned value in project management.
• Provide a reference for the basic concepts and applications of earned value management that is consistent and globally applicable.

Earned value management is a management methodology for integrating scope, schedule, and resources; for objectively measuring project performance and progress; and for forecasting project outcome. ...