Uploaded June 2026 | Updated September 2026, 2 weeks ago
Earned Value Management (EVM) Explained | Project Performance Control | Sociologylearners
In this video, we explore **Earned Value Management (EVM)**, a powerful technique in Project Management used to measure project performance by integrating scope, time, and cost.
Earned Value Management helps project managers understand whether a project is on track, behind schedule, or over budget by comparing planned work with actual progress and costs.
You will learn the three key components of EVM. **Planned Value (PV)** refers to the estimated value of work planned to be completed. **Earned Value (EV)** represents the value of work actually completed. **Actual Cost (AC)** is the real cost incurred for the work performed.
Using these values, project managers can calculate important performance indicators. **Schedule Variance (SV)** shows whether the project is ahead or behind schedule, while **Cost Variance (CV)** indicates whether the project is under or over budget.
SV = EV - PV
CV = EV - AC
The video also introduces performance indices such as the **Schedule Performance Index (SPI)** and **Cost Performance Index (CPI)**, which provide deeper insights into efficiency.
SPI = \frac{EV}{PV}
CPI = \frac{EV}{AC}
These indicators help project managers forecast future performance and take corrective actions if needed.
In addition, the video explains how EVM supports better decision-making, risk management, and communication with stakeholders by providing clear and objective performance data.
Key topics covered in this video:
* What is Earned Value Management
* Planned Value (PV), Earned Value (EV), Actual Cost (AC)
* Schedule and cost variance
* Performance indices (SPI, CPI)
* Importance in project monitoring and control
Whether you are a student, project manager, or preparing for exams, this video will help you understand how to measure and control project performance effectively.
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#EarnedValueManagement #EVM #ProjectManagement #Sociologylearners #PerformanceManagement
Earned Value Management (EVM) Explained | Project Performance Control | Sociologylearners
In this video, we explore **Earned Value Management (EVM)**, a powerful technique in Project Management used to measure project performance by integrating scope, time, and cost.
Earned Value Management helps project managers understand whether a project is on track, behind schedule, or over budget by comparing planned work with actual progress and costs.
You will learn the three key components of EVM. **Planned Value (PV)** refers to the estimated value of work planned to be completed. **Earned Value (EV)** represents the value of work actually completed. **Actual Cost (AC)** is the real cost incurred for the work performed.
Using these values, project managers can calculate important performance indicators. **Schedule Variance (SV)** shows whether the project is ahead or behind schedule, while **Cost Variance (CV)** indicates whether the project is under or over budget.
SV = EV - PV
CV = EV - AC
The video also introduces performance indices such as the **Schedule Performance Index (SPI)** and **Cost Performance Index (CPI)**, which provide deeper insights into efficiency.
SPI = \frac{EV}{PV}
CPI = \frac{EV}{AC}
These indicators help project managers forecast future performance and take corrective actions if needed.
In addition, the video explains how EVM supports better decision-making, risk management, and communication with stakeholders by providing clear and objective performance data.
Key topics covered in this video:
* What is Earned Value Management
* Planned Value (PV), Earned Value (EV), Actual Cost (AC)
* Schedule and cost variance
* Performance indices (SPI, CPI)
* Importance in project monitoring and control
Whether you are a student, project manager, or preparing for exams, this video will help you understand how to measure and control project performance effectively.
đź‘Ť Like this video
đź’¬ Share your thoughts in the comments
đź”” Subscribe to *Sociologylearners* for more educational content on Sociology, Project Management, and professional skills
#EarnedValueManagement #EVM #ProjectManagement #Sociologylearners #PerformanceManagement
