EVM is a project management technique that helps project managers measure project performance by comparing actual progress against the project plan. EVM provides a way to track project performance in terms of cost and schedule, and helps project managers identify potential problems early so that corrective action can be taken. Here are some key points to keep in mind about EVM:

• EVM is based on three key elements: planned value (PV), actual cost (AC), and earned value (EV).
• PV represents the budgeted cost of the work scheduled to be done.
• AC represents the actual cost of the work that has been completed.
• EV represents the value of the work that has been completed, based on the project plan.
• EVM provides project managers with a way to measure project performance in terms of cost and schedule variances.
• EVM can help project managers identify potential problems early so that corrective action can be taken.
• EVM is an important tool for project managers to use in order to ensure that projects are completed on time and within budget.