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Earned Value Management: The EVM formulary

Controlling a project is key to the success or failure of the project. Measuring the project performance along the life of the project is a way to provide early warning signals that can be used as triggers for corrective action in case the project is in danger. Earned Value Management (EVM) is a well-known technique to control the time and cost performance of a project. It is a methodology used since the 1960s, when the American Department of Defense proposed a standard method to measure a project's performance. The system relies on a set of often straightforward metrics to measure and evaluate the general health of a project. 

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