Glossary of PM Terms
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- Earned Value
- A cost control that allows you to quantify the overall progress of the project in monetary terms. Earned value is calculated by applying a performance measurement factor to the planned cost. Another term for earned value is Budget Cost of Work Performed.
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- Earned Value Analysis
- Analysis of project progress where the actual money budgeted and spent is compared to the value of the work achieved.
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- Earned Value Cost Control
- The quantification of the overall progress of a project in dollar terms so as to provide a realistic yardstick against which to compare the actual cost to date.
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- Earned Value Management
- A management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased increments constituting a cost and schedule measurement baseline.
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