--- title: Earned Value Management (EVM) description: ProjectManager makes EVM practical by automating calculations, centralizing data and delivering real-time insights. --- [Skip to content](https://learn.projectmanager.com/earned-value-management-evm#main-content) English Show submenu for translations [Ask a Question](https://learn.projectmanager.com/kb-tickets/new) ![](https://learn.projectmanager.com/hs-fs/hubfs/2022-PM-Logo-01.png?width=40&height=31&name=2022-PM-Logo-01.png) - [ProjectManager Knowledge Base](https://learn.projectmanager.com/) Open main navigation Close main navigation - [ProjectManager Knowledge Base](https://learn.projectmanager.com/) - English Show submenu for translations - [Ask a Question](https://learn.projectmanager.com/kb-tickets/new) How can we help you today? - There are no suggestions because the search field is empty. 1. [ProjectManager Knowledge Base](https://learn.projectmanager.com/) 2. [Resource management](https://learn.projectmanager.com/resource-management) 3. [Resource Availability](https://learn.projectmanager.com/resource-management#resource-availability) # Earned Value Management (EVM) ## ProjectManager makes EVM practical by automating calculations, centralizing data and delivering real-time insights. Earned Value Management (EVM) is a project management methodology that integrates scope, schedule, and cost to provide an objective measure of how a project is actually performing compared to the original plan. It answers three critical questions at any point: - Are we on schedule? - Are we on budget? - What will the project cost and when will it finish if current trends continue? EVM compares three core metrics: - **Planned Value (PV)** – The budgeted cost of work scheduled to be completed by a certain date - **Earned Value (EV)** – The budgeted cost of the work actually completed - **Actual Cost (AC)** – The real cost spent to complete that work From these three values, EVM calculates key performance indicators (KPIs) including: Schedule Variance (SV) = EV minus PV (negative means behind schedule); Cost Variance (CV) = EV minus AC (negative means over budget); Schedule Performance Index (SPI) = EV divided by PV (below 1.0 means behind schedule); Cost Performance Index (CPI) = EV divided by AC (below 1.0 means over budget); Estimate at Completion (EAC) - the forecasted total project cost; and Estimate to Complete (ETC) - the remaining cost needed to finish. ProjectManager features that can help with EVM include the [Gantt chart's baseline](https://learn.projectmanager.com/baseline) and planned vs. actual data, the [project](https://learn.projectmanager.com/training-academy-project-dashboards) and [portfolio dashboard](https://learn.projectmanager.com/portfolio-dashboard) and [reports](https://learn.projectmanager.com/create-report). ### How ProjectManager Supports Earned Value Management #### 1. Real-Time Cost and Progress Tracking The Gantt chart allows you to estimate costs at the beginning of the project, and it captures actual costs as work is performed. For example, a construction team can use it to estimate costs for each task and set a budget. As crews complete tasks, actual data is input into the software in real time. Take advantage of columns like estimated start and end dates, planned vs. actual hours and more. - Capture **actual costs** as work is performed - Update task completion to calculate **earned value** automatically - Eliminate delays and errors from manual spreadsheets ![Planned hours with arrow](https://learn.projectmanager.com/hs-fs/hubfs/Planned%20hours%20with%20arrow.png?width=470&height=260&name=Planned%20hours%20with%20arrow.png) #### 2. Built-In Dashboards We offer project and portfolio-level dashboards that track six key project metrics, including cost and the project's overall health. Dashboards track planned vs. actual progress, cost performance trends and more. The Health widget, for example, includes RAG status circles that tell you if your project is under or over budget, or ahead of or behind schedule. Simply hover over each circle for additional context. ![RAG status](https://learn.projectmanager.com/hs-fs/hubfs/RAG%20status.png?width=470&height=354&name=RAG%20status.png) These visual insights make it easy to spot cost and schedule variances immediately. ![customizing and navigating the dashboard](https://learn.projectmanager.com/hs-fs/hubfs/customizing%20and%20navigating%20the%20dashboard.gif?width=470&height=256&name=customizing%20and%20navigating%20the%20dashboard.gif) #### 3. Custom Reports for EVM Metrics While traditional EVM reporting often relies on static spreadsheets and manual updates, ProjectManager pulls live data from task completion percentages, timesheets, project baselines, resource costs and more. This means key EVM metrics like cost variance (CV), schedule variance (SV), CPI and SPI and forecasted completion costs are calculated using updated information. Custom reports also let you filter by team, department, project phase, task owner, priority and more, making it easy to see which team is impacting metrics like CPI or analyze cost performance during a specific time. In a few clicks, you can share [reports](https://learn.projectmanager.com/create-report) instantly with stakeholders. ![Reports-Light-2554x1372-1](https://learn.projectmanager.com/hs-fs/hubfs/Reports-Light-2554x1372-1.png?width=470&height=253&name=Reports-Light-2554x1372-1.png) #### 4. Baselines for Planned Value (PV) A project baseline is the backbone of EVM. It helps lock in the original schedule and budget. Use ProjectManager's baseline feature to lock in your Planned Value (PV) - the budgeted cost of scheduled work - along with budget and schedule benchmarks. As work progresses, teams can automatically compare actual performance against the baseline. ![Set a baseline on the Gantt](https://learn.projectmanager.com/hs-fs/hubfs/Set%20a%20baseline%20on%20the%20Gantt.png?width=470&height=412&name=Set%20a%20baseline%20on%20the%20Gantt.png) #### 5. Resource & Workload Management ProjectManager allows you to assign hourly rates to team members, track time with built-in [timesheets](https://learn.projectmanager.com/timesheets) and capture actual labor costs in real time. These features ensure AC reflects reality, CPI calculations are accurate and cost overruns are detected early. Use the resource management features to: - Track labor costs by team member - Optimize workloads to improve cost and schedule efficiency—helping maintain strong CPI and SPI values ![Assign people popup Gantt-1](https://learn.projectmanager.com/hs-fs/hubfs/Assign%20people%20popup%20Gantt-1.png?width=470&height=307&name=Assign%20people%20popup%20Gantt-1.png) #### 6. Portfolio-Level EVM With tools like real-time portfolio dashboards, [roadmaps](https://learn.projectmanager.com/roadmap), workload charts and more, executives can see aggregated cost and schedule performance as well as budget vs. actual spend across projects.  Monitor multiple projects to see: - Which projects are over budget - Which are behind schedule - Where corrective action is needed across the portfolio ![Roadmap\_Wide\_Zoom-175-program-management-software-1600x1159](https://learn.projectmanager.com/hs-fs/hubfs/Roadmap_Wide_Zoom-175-program-management-software-1600x1159.jpg?width=470&height=340&name=Roadmap_Wide_Zoom-175-program-management-software-1600x1159.jpg) Have questions about using ProjectManager for Earned Value Management? 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