Earned Value Management or EVA (earned value analysis) as it is often referred to, was developed out of the need to initially understand the estimate of the project at completion cost, and then at regular intervals to readily interpret the actual 'health' of your project from a actual expenditure to date compared to the amount of budget expected at that point in time in the project timeline.
The EVA model was designed and initially incorporated into the project management framework of a growing number of government-based organisations and then subsequently adopted by PM consultants in the private and commercial field. Since EVA was PM methodology independent, it's benefits as a financial management tool were rapidly recognised.
visualPRINCE has used EVA as a complimentary project management tool for an extensive period. It (EVA) provides accuracy when the occasion requires an estimate of costs at project completion, and also acts as a regular measurement of project performance. As such, EVA has become an integral component of the governance standards of visualPRINCE.
Personal papers are available. Please contact visualPRINCE Pty Ltd to request a detailed visual planning and earned value analysis pack (PDF format) using the Contact Form.
