What does Earned Value Management (EVM) integrate in its assessment?

What does Earned Value Management (EVM) integrate in its assessment?

• A. Scope, budget, and client satisfaction
• B. Scope, cost, and schedule
• C. Budget, timeline, and resources
• D. Quality, performance, and stakeholder input

Answer: (B)

Earned Value Management (EVM) is a project management technique that provides a comprehensive framework for assessing project performance by integrating three key elements: scope, cost, and schedule. The integration of these components allows project managers to evaluate how much work has been accomplished (scope), how much it cost (cost), and the timeline for completion (schedule) against the planned objectives. This holistic view is crucial for effectively measuring project performance and health throughout its lifecycle. By comparing the actual progress and costs against the planned values, EVM enables project managers to identify deviations at an early stage, forecast future performance, and make informed decisions to keep projects on track. This focus on the relationship between scope, cost, and schedule is what makes EVM a powerful tool for project oversight and control.

Earned Value Management (EVM) is a project management technique that provides a comprehensive framework for assessing project performance by integrating three key elements: scope, cost, and schedule.

The integration of these components allows project managers to evaluate how much work has been accomplished (scope), how much it cost (cost), and the timeline for completion (schedule) against the planned objectives. This holistic view is crucial for effectively measuring project performance and health throughout its lifecycle.

By comparing the actual progress and costs against the planned values, EVM enables project managers to identify deviations at an early stage, forecast future performance, and make informed decisions to keep projects on track. This focus on the relationship between scope, cost, and schedule is what makes EVM a powerful tool for project oversight and control.